In Georgia, the average cost of a room in a 3-star hotel was 154 GEL per night in April 2024, while the average cost of a room in a 4-star hotel in Georgia was 244 GEL per night and the average cost of a room in a guesthouse was 121 GEL per night. The average cost of a room in a 5-star hotel in Georgia in April 2024 was 431 GEL per night. In Tbilisi, the average price was 554 GEL, followed by Kakheti – 466 GEL, Adjara – 428 GEL, and Samtskhe-Javakheti – 290 GEL.

Our latest Employment Tracker publication offers insights into recent developments in Georgia’s labor market. In March 2024, the share of people receiving a monthly salary of 2400 GEL or more continued to increase (+7 pp). In March 2024, the number of vacancies published on jobs.ge increased by 2% compared to March 2023. Over the past 6 months (from October 2023 to March 2024), the fastest growing number of vacancies category was administration and management.  

In Georgia, the average cost of a room in a 3-star hotel was 153 GEL per night in March 2024, while the average cost of a room in a 4-star hotel in Georgia was 247 GEL per night and the average cost of a room in a guesthouse was 133 GEL per night. The average cost of a room in a 5-star hotel in Georgia in March 2024 was 449 GEL per night. In Tbilisi, the average price was 611 GEL, followed by Guria – 550 GEL, Kakheti – 545 GEL, and Adjara – 417 GEL.

Our latest Georgian Economic Climate publication offers assessments of various economic developments by Georgian economists. Georgia’s present economic situation was assessed positively. Predictions for Georgia’s economic situation for the next six months were also slightly positive.  Export volumes are forecasted to decline, and import volumes are expected to increase over the next six months compared to 2023. EU candidacy and labor shortage has the greatest impact on the Georgian economy. Additionally, employment and the labor market is the most challenging area when it comes to Georgia’s alignment with the EU standards.

The Business Association of Georgia (BAG) Index is a joint product of the Business Association of Georgia, PMC Research Center, and the ifo Institute for Economic Research. The BAG Index summarizes the BAG Business Climate, BAG Employment Barometer, and BAG Investment Environment, which are calculated according to the assessments of the top managers of BAG member businesses and companies in their corporate group. BAG and PMC Research Center publish the BAG Index on a quarterly basis from Q4 2019. For the previous reports of the BAG Index, please visit the following link: https://bag.ge/ge/bag-index

Our latest Quarterly Tourism Update offers insight into Georgia’s tourism indicators in 2023. In 2023, international visits to Georgia increased significantly (by 31%) compared to 2022, but still did not recover to pre-pandemic levels, reaching only 80% of the 2019 total.  In 2023, international visits to Georgia's mountain resorts did not recover to pre-pandemic levels.  In 2023, average hotel prices in Georgia experienced a general decrease compared to 2022.

Employment Tracker publication offers insights into recent developments in Georgia’s labor market. In February 2024, the share of people receiving a monthly salary of 2400 GEL or more continued to increase (+1pp). In February 2024, the number of vacancies published on jobs.ge increased by 13% compared to February 2023. Over the past 6 months (from September 2023 to February 2024), the fastest growing number of vacancies category was administration and management.  

Transportation and logistics sector in Georgia  is a vital pillar of the economy, facilitating domestic and international trade. Notably, Georgia's strategic location along the Middle Corridor enhances its significance as a key transit hub connecting Europe and Asia. In 2023, Georgia's transportation and storage sector experienced moderate growth, with its contribution to GDP increasing by 5.1% despite facing challenges like disruptions in trade with Russia. Although the sector’s share of total gross output declined slightly (-0.8 percentage points, YoY), it remains vital, contributing 6.5% to the national economy's overall output. Looking ahead, Georgia's transportation and logistics sector is expecting further growth and development. Despite recent challenges, the sector's strategic location along the Middle Corridor presents promising opportunities for expansion. With ongoing efforts to enhance infrastructure and connectivity, Georgia is well-positioned to strengthen its role as a key transit hub between Europe and Asia.

In Georgia, the average cost of a room in a 3-star hotel was 158 GEL per night in February 2024, while the average cost of a room in a 4-star hotel in Georgia was 261 GEL per night and the average cost of a room in a guesthouse was 128 GEL per night. The average cost of a room in a 5-star hotel in Georgia in February 2024 was 416 GEL per night. In Tbilisi, the average price was 596 GEL, followed by Kakheti – 551 GEL, Guria – 486 GEL, and Adjara – 304 GEL.

Georgia's economic growth remained robust (7.5%) in 2023, albeit at a slower pace than the previous two years. In 2023, several factors presented positive and adverse economic developments - examined within the report in detail, along with the outlook for 2024. Issue 6 of the Macro Overview thoroughly explores different aspects of the economy in Georgia and beyond, including: Economic Growth; Economic and Business Climate; Key Macroeconomic Indicators; Labor Market; External Sector; Global Economic Trends.