Our latest Employment Tracker publication offers insights into recent developments in Georgia’s labor market. In May 2024, the share of people receiving a monthly salary of 2400 GEL or more continued to increase (+5.6 pp). In May 2024, the number of vacancies published on jobs.ge decreased by 3% compared to May 2023. The labor market efficiency is returning to its pre-pandemic levels. However, further observation is needed to draw final conclusions. Please refer to the full publication for more insights.

This publication compares the position of Ukraine in relation to two fellow EU candidate countries, namely Georgia and Moldova, to understand where it stands on European integration. Specifically, it evaluates the performance of all three nations alongside that of EU member states across several key indices and rankings.  A promising trend is evident in Ukraine's Control of Corruption indicator, showing a steady increase from 2019 to 2022. Fighting corruption is a key demand of the Ukrainian people and a crucial prerequisite for EU accession. According to the European Commission, despite Russia’s full-scale invasion in February 2022 and subsequent war, Ukraine has persisted in advancing democratic and rule of law reforms. Relatedly, in December 2023, EU leaders initiated accession negotiations with Ukraine.

In Georgia, the average cost of a room in a 3-star hotel was 157 GEL per night in May 2024, while the average cost of a room in a 4-star hotel in Georgia was 252 GEL per night and the average cost of a room in a guesthouse was 118 GEL per night. The average cost of a room in a 5-star hotel in Georgia in May 2024 was 425 GEL per night. In Guria, the average price was 659 GEL, followed by Tbilisi – 635 GEL, Kakheti – 478 GEL, and Adjara – 344 GEL.

This publication analyzes where Georgia stands in comparison to Moldova and Ukraine, two other countries with candidate status for EU membership, and evaluates how these three countries are performing relative to EU member states across several key indices and rankings to gain a comprehensive understanding of Georgia’s position regarding European integration. The most significant gap between Georgia and the EU average was identified in the area of Democracy, according to the analysis. Today, this concern is heightened as democracy in Georgia is considered to be under threat as the Parliament of Georgia has passed a law on the transparency of foreign influence.

In April 2024, the share of people receiving a monthly salary of 2400 GEL or more continued to increase (+5.2 pp). In April 2024, the number of vacancies published on jobs.ge increased by 22% compared to April 2023. Over the past 6 months (from November 2023 to April 2024), the fastest growing number of vacancies category was administration and management.

More than two years have now passed since Russia’s full-scale invasion of Ukraine on 24 February 2022. During this period, an unprecedentedly broad package of sanctions has been imposed against Russia, with the quantity of measures and the targeted sectors, entities, and individuals constantly expanding. This bulletin, which is a follow up to an earlier issue published in 2022, provides a re-assessment of the effectiveness of the most important sanctions to have been imposed on Russia since its invasion of Ukraine on 24 February 2022.

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.