Hospitality Sector in Georgia
26-Nov-2024
Georgia's hospitality industry benefits from country’s rich cultural and natural attractions. To support the growing interest in these offerings, Georgia has 3,198 registered accommodation providers, though most are smaller-capacity family hotels and guesthouses.
Since 2020, 238 new hotels have opened, and another 324 are planned by 2027, which will increase bed capacity by 130%. While Tbilisi and Adjara see the most growth, rural areas lag behind.
Key challenges include weak long-term planning, high operating costs for smaller businesses, and limited market diversification. For the sector to grow sustainably, the focus must shift to improving infrastructure, diversifying markets, and attracting high-value tourists.
Employment Tracker (October, 2024)
21-Nov-2024
The latest issue of Employment Tracker, offers insights into recent developments in Georgia’s labor market.
In October 2024, the number of people receiving a monthly salary increased by 3.2% YoY.
The share of individuals earning up to 600 GEL continues to decrease, though they still represent a notable portion (15%) of total salary recipients.
Over the past six months, the Administration and Management sector, previously one of the fastest-growing, has experienced a decline in the number of vacancies.
Please refer to the full publication for more insights.
Issue 149: Household Income and Poverty in Georgia (2019 – 2023)
15-Nov-2024
Our latest publication analyzes Household Income and Poverty in Georgia (2019 – 2023):
From 2019 to 2023, Georgia’s nominal median household income grew at a compound annual growth rate (CAGR) of 11%, while real median household income, adjusted for inflation, increased at a CAGR of 4% annually.
During this period, social transfers accounted for an average of 58% of the total income for the poorest 20% of households, highlighting their strong reliance on government assistance.
Between 2020 and 2023, absolute poverty significantly decreased from 21.3% to 11.8%, while the relative poverty rate remained relatively stable, dropping by just 0.3 percentage points to 19.8%.
The share of households reporting themselves as “poor” or “extremely poor” decreased slightly from 39.7% to 35.4% over the analyzed period, suggesting a persistent gap between subjective and objective measures of poverty.
Hotel Price Index (October, 2024)
07-Nov-2024
In Georgia, the average cost of a room in a 3-star hotel was 168 GEL per night in October 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 115 GEL per night.
Employment Tracker (September, 2024)
24-Oct-2024
Our latest monthly publication, Employment Tracker, offers insights into recent developments in Georgia’s labor market.
In September 2024, 149 thousand persons received a monthly salary of up to 600 GEL.
Over the past 6 months (from April 2024 to September 2024), the IT/Programming sector experienced a decline in the number of vacancies posted on jobs.ge compared to the same period of 2023 (-11.6%).
From April 2024 to September 2024, the average YoY growth of vacancies published on jobs.ge sped up.
Please refer to the full publication for more insights.