Hotel Price Index (September, 2023)
19-Oct-2023
In Georgia, the average cost of a room1 in a 3-star hotel was 168 GEL per night in September 2023, while the average cost of a room in a 4-star hotel in Georgia was 268 GEL per night and the average cost of a room in a guesthouse was 124 GEL per night. The average cost of a room in a 5-star hotel in Georgia in September 2023 was 495 GEL per night. In Guria, the average price was 780 GEL, followed by Tbilisi – 623 GEL, Kakheti – 514 GEL, and Adjara – 460 GEL.
BAG Index (Q3, 2023)
16-Oct-2023
The Business Association of Georgia (BAG) Index is a joint product of the Business Association of Georgia, PMC Research, 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. In Q3 of 2023, additional questions were integrated into the questionnaire to assess the investment environment. For the previous reports of the BAG Index, please visit the following link: https://bag.ge/ge/bag-index
Georgian Economic Climate (Q3, 2023)
06-Oct-2023
In this bulletin, which is based on the ifo Institute’s methodology, we discuss Georgia’s economic climate, informed by the assessments of various Georgian economists. The main findings of the survey of Georgian economists conducted in the third quarter of 2023 are: Georgian economists have a positive assessment of Georgia’s present economic situation. Though their predictions for Georgia’s economic situation for the next six months are negative. 93% of the surveyed economists think that a labor shortage currently represents a high or very high threat to the Georgian economy. Almost 78% of the surveyed economists named a high emigration rate as a high or very high threat. With Turkish Lira hitting a record low, 78% of the surveyed economists think that the decreasing competitiveness of domestic products against cheaper imports from Turkey will have at least a high impact on the Georgian economy.  
Employment Tracker (August, 2023)
26-Sep-2023
In August 2023, the number of persons receiving a monthly salary increased by 4.0% compared to the corresponding period of 2022. In August 2023, the share of persons receiving a monthly salary up to 600 GEL amounted to 19.1%, which was 4.1 percentage points less than the corresponding period of 2022. In August 2023, the share of persons receiving a monthly salary of 9,600 GEL and more amounted to 2.1%, which was 0.4 percentage points more than the corresponding period of 2022. In 2023, from March to August, the total number of vacancies published on jobs.ge amounted to 44,065, which was 10.2% higher compared to the corresponding period of 2022.
Issue 145: Household Income and Income Inequality in Georgia (2013-2022)
19-Sep-2023
This bulletin provides a comprehensive understanding of household income distribution in Georgia. It presents an analysis of income inequality beyond the traditional Gini coefficient by examining additional dimensions of income distribution. More precisely, the bulletin compares the income of different segments of society, household income in rural and urban areas, and between regions.  
Monthly Tourism Update (August, 2023)
14-Sep-2023
Since the beginning of 2023, the tourism sector in Georgia has been showing signs of significant recovery. Therefore, with this background, it is interesting to analyze the latest hotel price dynamics in Georgia. Since the beginning of 2023, the year-on-year (YoY) Hotel Price Index (HPI) in Georgia has experienced notable fluctuations, with a significant decline in the summer months. That drop was mainly attributed to the YoY price decrease for guesthouses. To provide a better understanding of the latest price changes of hotels, the regional analysis is crucial. In the summer months of 2023, the YoY HPI in Adjara was positive and significant for all categories of hotels (16%) in June, followed by a decline in July (-2.8%) and August (-0.2%). This could partially be attributed to the relatively low demand in seaside locations, in some instances due to visitors’ sea safety concerns.
Hotel Price Index (August, 2023)
14-Sep-2023
In Georgia, the average cost of a room in a 3-star hotel was 181 GEL per night in August 2023, while the average cost of a room in a 4-star hotel in Georgia was 278 GEL per night and the average cost of a room in a guesthouse was 130 GEL per night. The average cost of a room in a 5-star hotel in Georgia in August 2023 was 542 GEL per night. In Guria, the average price was 1055 GEL, followed by Adjara – 515 GEL, Tbilisi – 515 GEL, and Kakheti – 837 GEL.
Employment Tracker (July, 2023)
30-Aug-2023
In July 2023, the number of persons receiving a monthly salary increased by 4.7% compared to the corresponding period of 2022. In July 2023, the share of persons receiving a monthly salary up to 600 GEL amounted to 17.1%, which was 4.0 percentage points less than the corresponding period of 2022. In 2023, from February to July, the total number of vacancies published on jobs.ge amounted to 42,900, which was 12.8% higher compared to the corresponding period of 2022. In 2023, from February to July, a total of 7,866 vacancies were published in the field of finance, statistics, which was 43.1% higher than the corresponding period of 2022 and 99.0% higher compared to the corresponding period of 2021.
Hotel Price Index (July, 2023)
17-Aug-2023
In Georgia, the average cost of a room in a 3-star hotel was 174 GEL per night in July 2023, while the average cost of a room in a 4-star hotel in Georgia was 267 GEL per night and the average cost of a room in a guesthouse was 132 GEL per night. The average cost of a room in a 5-star hotel in Georgia in July 2023 was 498 GEL per night. In Guria, the average price was 894 GEL, followed by Adjara – 550 GEL, Tbilisi – 505 GEL, and Kakheti – 466 GEL.
Monthly Tourism Update (July, 2023)
17-Aug-2023
In the first half of 2023, the number of international visits to Georgia reached 2.5 million visits, which is 21.7% lower than in the first half of 2019 (referred to as the corresponding pre-pandemic figure). This relatively slow recovery could be attributed to the ongoing Russia-Ukraine War and related disruptions to Georgia’s tourism sector. From a regional perspective, the number of international visits originating from Europe in the first half of 2023 was well below the pre-pandemic number (-23.3%), while for all other regions, the number of visits matched or exceeded the pre-pandemic figure. Despite only a partial recovery in the number of international visitors in the first half of 2023 against the corresponding period of 2019, income from international travel reached USD 1.8 billion, representing a 24% increase compared to the first half of 2019. According to the National Bank of Georgia, as of 30 June 2023, 38.4% of Russian citizens, 34.9% of Belarusian citizens, and 28.0% of Ukrainian citizens residing in Georgia were estimated to have been living in the country for at least one year or were intending to stay for more than one year. Considering these estimates, income from Russian travelers was at its highest in the first half of 2023 when it amounted to USD 482.1 million (equating to 26.7% of total income from international travel), which is 9.4% higher compared to the same period of 2019.