Self-Reliance – Optimal Tool for Assisting Developing and Emerging Countries
28-Apr-2020
Interview with Aleksi Aleksishvili, Chairman and CEO at PMCG about the most important components, necessary to successfully introduce reforms for World Review magazine, published by Diplomat and the New York Times.
Georgian Economic Climate (Q2, 2020)
23-Apr-2020
In the second quarter of 2020, Georgian economic climate has significantly worsened. In this period, Georgian economists assessed Georgia’s present economic situation negatively; Moreover, the assessment of present economic situation in this quarter has worsened drastically compared to the first quarter of 2020 and the second quarter of 2019. In the second quarter of 2020, Georgia’s economic situation in the next six months has also been assessed negatively by Georgian economists. Furthermore, expectations in the next six months have deteriorated rapidly compared with both, first quarter of 2020 and second quarter of 2019.
Hotel Price Index (March, 2020)
22-Apr-2020
The average cost of a room in a 5-star hotel in Georgia in March 2020 was 274 GEL per night. In Mtskheta-Mtianeti, the average price was 779 GEL (only one 5-star hotel), followed by Tbilisi - 396 GEL, Samtskhe-Javakheti – 339 GEL and Guria - 331 GEL.
Monthly Tourism Update (March, 2020)
22-Apr-2020
Number of international travelers in Georgia decreased by 385 846 (-62.3%), compared to the same period previous year, while number of visitors decreased by 297 119 (-79%) and the number of tourists decreased by 184 320 (-56.1%). Net revenues from exporting tourism services in 2019 amounted 3267.7 mln USD, which accounts for 18.4% of Georgian GDP. In March 2020, compared to February 2020, hotel price index increased by 5.1%, which can be explained by a market failure. In March 2020, compared to the same period of 2019, hotel price index decreased by 12.9%. The average price of 5-star hotels decreased by 43% Year over Year (YoY), while price for 4-star hotel fell by 18.1%, and for 3-star hotels and guesthouses by 5.8% and 3.3% respectively.
Hotel Price Index (February, 2020)
13-Mar-2020
In Georgia, the average cost of a room in a 3-star hotel was 115 GEL per night in February 2020. While the average cost of a room in a 4-star hotel in Georgia was 184 GEL per night and the average cost of a room in a guesthouse was 66 GEL per night.The average cost of a room in a 5-star hotel in Georgia in February 2020 was 301 GEL per night. In Mtkheta-Mtianeti, the average price was 779 GEL, followed by Tbilisi - 444 GEL, Samtskhe-Javakheti – 339 GEL and Guria - 331 GEL.
Monthly Tourism Update (February, 2020)
13-Mar-2020
In February 2020 compared to February 2019, International visitor trips decreased by 0.6%. Among them, the number of tourists increased by 4%. On January 29th, Georgia suspended direct flights from China due to COVID-19, as a result, in February 2020, number of visitors from China decreased by 59.5% compared to February 2019. In February 2020, compared to January 2020, hotel price index decreased by 23.2%. In February 2020, compared to the same period of 2019, hotel price index decreased by 14.6%. In terms of regions, the prices decreased the most in Adjara (-28.8%), followed by Guria (-25.5%), Samtskhe-Javakheti (-16.9%) and Tbilisi (-11.6%).
Hotel Price Index ( January, 2020 )
06-Mar-2020
In Georgia, the average cost of a room in a 3-star hotel was 136 GEL per night in January 2020. While the average cost of a room in a 4-star hotel in Georgia was 219 GEL per night and the average cost of a room in a guesthouse was 75 GEL per night.The average cost of a room in a 5-star hotel in Georgia in January 2020 was 432 GEL per night. In Tbilisi, the average price was 540 GEL, followed by Adjara - 389 GEL, Kakheti – 384 GEL and Samstkhe-Javakheti - 370 GEL. In January 2020, in Georgia the hotel price index increased by 4% compared to December 2019. The 3-star, 4-star and 5-star hotel price index decreased by 1.9%, while for guesthouses, the price index increased by 10.8%. In January 2020, compared to January 2019, hotel prices in Georgia increased by 8.6%. The prices of 3*, 4*, 5* hotels increased by 4.6%, while the prices of guesthouses increased by 16.3%.
Monthly Tourism Update (January, 2020)
06-Mar-2020
Number of international visitors has increased by 18% in December 2019 and January 2020 combined, compared to December 2018 and January 2019 combined. Average annual growth rate of international visitor trips in December and January combined between years 2014-2019 was 8%. Average annual growth rate of international visitor trips in June, July and August combined between years 2014-2019 was 9%. Average price of hotels in Gudauri and Bakuriani in January 2020 was 207 and 206 GEL respectively, and 195 GEL in Mestia. In January 2020, compared to December 2019, hotel price index increased by 4%. In January 2020, compared to the same period of 2019, hotel price index increased by 8.6%.
Issue 115: Georgia’s External Trade, 2019
18-Feb-2020
The data analysis shows that in 2019, compared with the previous year, Georgia’s export has increased, while the country’s import decreased. In 2019, Georgia’s external trade balance amounted to negative $5.2 bln, which is a $0.49 bln decrease compared to the corresponding period of 2018.
Georgian Economic Climate (Q1, 2020)
11-Feb-2020
In the first quarter of 2020, Georgia’s economic situation in the next six months has been assessed negatively by Georgian economists. However, in this quarter, expectations in six months have improved compared with Q4 of 2019, while it deteriorated rapidly in relation to Q1 of 2019.