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Hotel Price Index (February, 2019)

14-Mar-2019

In February 2019, in Georgia the hotel price index decreased by 1.7% compared to January 2019. In Tbilisi, the hotel prices decreased by 1.9%. The decrease of hotel prices in Georgia, can be linked to decreased number of tourists' trips. In February 2019, compared to January 2019, the number of international travelers trips in Georgia decreased by 11.2%, while among the international travelers, the proportion who stayed in Georgia for 24 hours or more (classified as tourists) decreased by 19%.

The number of international travelers visiting Georgia in February 2019, compared to February 2018, decreased by 0.4%. However,  of these international travelers, the proportion who stayed in Georgia for 24 hours or more (classified as tourists) increased by 5.1%.  

This was expected to have a positive effect on hotel price increases, however in February 2019, compared to February 2018, in Georgia the hotel price index decreased insignificantly by 0.4%. This was mainly due to price decreases of guesthouses.  While, the 3-star, 4-star and 5-star hotel price index increased by 2.2%, for guesthouses, the price index decreased by 2.9%.

It's worth to be mentioned that the revenue from international travelers amounted 3.2 billion USD in 2018. According to countries, the most revenue from international travelers was received from Russia - 26.3% (USD 842 mln), followed by Turkey - 13.7% (USD 437 mln), and EU countries - 12.3% (USD 394 mln).  In 2018, compared to 2017, the shares of revenues from internationals travelers from Turkey, Ukraine, Armenia and Iran decreased, while shares of Russia, EU countries and Iran increased.

 

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