Monthly Tourism Update (August, 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.