Monthly Tourism Update (June, 2020)
- Using various assumptions, in Q3 of 2020, the maximum capacity of domestic tourism expenditures is to replace 33% of revenues from international tourism;
- Using various assumptions, total revenues generated from tourism (both, domestic and international) in 2020 could amount to $1730 mln, which is 44.1% of the corresponding figure in 2019;
- Domestic tourism in Georgia reopened on June 15th, while the reopening of borders is postponed to the near future;
- The number of international travelers declined by 94.6% in May compared to the same period of 2019, while the number of inter- national visitors fell by 94.1% and the number of international tourists fell by 93.8%;
- In June 2020, hotel prices do not provide an accurate guidance of the situation in accommodation market due to the fact that the market for accommodations is just starting to recover from the COVID-19-induced crisis.