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.

The U.S. has been a key economic partner for Georgia since regaining its independence in the early 1990s, providing significant support in the form of foreign assistance, foreign direct investment (FDI), and remittances. The first issue of the Profile of Bilateral Relations offers an in-depth exploration of key topics of the relationship between the United States and Georgia: Historical Background Bilateral Trade Foreign Direct Investment (FDI) U.S. Multinational Enterprises (MNEs) in Georgia U.S. Foreign Assistance Migration Remittances Foreign Exchange Flows Future Outlook

From January to August 2024, the Georgian economy demonstrated robust performance, with an average real GDP growth rate of 9.6%. Education and transportation and storage were the key contributors to growth in the first 6M of 2024, with contributions of 14.6% and 13.3%, respectively. Issue seven 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.

In Georgia, the average cost of a room in a 3-star hotel was 178 GEL per night in September 2024, while the average cost of a room in a 4-star hotel in Georgia was 291 GEL per night and the average cost of a room in a guesthouse was 110 GEL per night. The average cost of a room in a 5-star hotel in Georgia in September 2024 was 547 GEL per night. In Tbilisi, the average price was 721 GEL, followed by Guria – 661 GEL, Kakheti – 649 GEL, and Adjara – 476 GEL.

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.  

Our latest Georgian Economic Climate publication offers assessments of various economic developments by Georgian economists.  Assessment of Georgia’s present economic situation was slightly positive, while predictions for Georgia’s economic situation by the end of the next six months were negative. Overall, their outlook was significantly more optimistic compared to the previous reporting period.   Political instability and labor shortage had the greatest impact on the Georgian economy in Q3 2024.   The pause in U.S. assistance “that directly benefits the Government of Georgia” was assessed very negatively in terms of its effects on Georgia’s economy.  Please refer to the full publication for more insights. 

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.  

Our latest monthly publication, Employment Tracker, offers insights into recent developments in Georgia’s labor market. In August 2024, 148 thousand persons received a monthly salary up to 600 GEL. Over the past 6 months (from March 2024 to August 2024), the IT/Programming sector experienced a decline in the number of vacancies posted on jobs.ge compared to the same period of 2023. In Q2 of 2024, as in the previous quarter, 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.

In Q2 of 2024, unlike the previous quarter, overnight visits did not fully recover to 2019 levels. Hotel representatives attributed this lag in recovery to civil protests and political instability in May over the Georgian government’s passing of the “Law on Transparency of Foreign Influence.” The biggest increase in visits was recorded from China (127%), which is likely due at least in part to the number of direct flights between China and Georgia doubling. From April to August 2024, average hotel prices in Adjara increased for 3-star hotels (5% YoY), 5-star hotels (10% YoY), and guesthouses (13% YoY), while the average 4-star hotel price declined by 15%.

In Georgia, the average cost of a room in a 3-star hotel was 184 GEL per night in August 2024, while the average cost of a room in a 4-star hotel in Georgia was 272 GEL per night and the average cost of a room in a guesthouse was 114 GEL per night. The average cost of a room in a 5-star hotel in Georgia in August 2024 was 586 GEL per night. In Guria, the average price was 1012 GEL, followed by Tbilisi – 687 GEL, Kakheti – 686 GEL, and Adjara – 575 GEL.