Publications

In February 2020 compared to February 2019, International visitor trips decreased by 0.6%. Among them, the number of tourists increased by 4%. On January 29th, Georgia suspended direct flights from China due to COVID-19, as a result, in February 2020, number of visitors from China decreased by 59.5% compared to February 2019. In February 2020, compared to January 2020, hotel price index decreased by 23.2%. In February 2020, compared to the same period of 2019, hotel price index decreased by 14.6%. In terms of regions, the prices decreased the most in Adjara (-28.8%), followed by Guria (-25.5%), Samtskhe-Javakheti (-16.9%) and Tbilisi (-11.6%).
In Georgia, the average cost of a room in a 3-star hotel was 136 GEL per night in January 2020. While the average cost of a room in a 4-star hotel in Georgia was 219 GEL per night and the average cost of a room in a guesthouse was 75 GEL per night.The average cost of a room in a 5-star hotel in Georgia in January 2020 was 432 GEL per night. In Tbilisi, the average price was 540 GEL, followed by Adjara - 389 GEL, Kakheti – 384 GEL and Samstkhe-Javakheti - 370 GEL. In January 2020, in Georgia the hotel price index increased by 4% compared to December 2019. The 3-star, 4-star and 5-star hotel price index decreased by 1.9%, while for guesthouses, the price index increased by 10.8%. In January 2020, compared to January 2019, hotel prices in Georgia increased by 8.6%. The prices of 3*, 4*, 5* hotels increased by 4.6%, while the prices of guesthouses increased by 16.3%.
Number of international visitors has increased by 18% in December 2019 and January 2020 combined, compared to December 2018 and January 2019 combined. Average annual growth rate of international visitor trips in December and January combined between years 2014-2019 was 8%. Average annual growth rate of international visitor trips in June, July and August combined between years 2014-2019 was 9%. Average price of hotels in Gudauri and Bakuriani in January 2020 was 207 and 206 GEL respectively, and 195 GEL in Mestia. In January 2020, compared to December 2019, hotel price index increased by 4%. In January 2020, compared to the same period of 2019, hotel price index increased by 8.6%.
The data analysis shows that in 2019, compared with the previous year, Georgia’s export has increased, while the country’s import decreased. In 2019, Georgia’s external trade balance amounted to negative $5.2 bln, which is a $0.49 bln decrease compared to the corresponding period of 2018.
In the first quarter of 2020, Georgia’s economic situation in the next six months has been assessed negatively by Georgian economists. However, in this quarter, expectations in six months have improved compared with Q4 of 2019, while it deteriorated rapidly in relation to Q1 of 2019.
In Georgia, the average cost of a room in a 3-star hotel was 140 GEL per night in December 2019. While the average cost of a room in a 4-star hotel in Georgia was 213 GEL per night and the average cost of a room in a guesthouse was 69 GEL per night.
In December 2019, in Georgia the hotel price index3 increased by 9.1% compared to November 2019. The 3-star, 4-star and 5-star hotel price index increased by 6.4%, while for guesthouses, the price index increased by 13.9%.
In the past few years several major regulations were implemented both by the government and the National Bank of Georgia. In this newsletter, possible implications of imposed lending constraints on the private sector are presented.
Publication by our partner Ifo Institute for Economic Research that estimates World Economic Outlook in Emerging Markets and Developing Economies according to 2019 year. This research was prepared by Ifo and was originally published in Ifo World Economic Survey, IV 2019 November, Vol. 18. PMC Research Center is a regional partner of Ifo Institute in South Caucasus.
In Georgia, the average cost of a room in a 3-star hotel was 129 GEL per night in November 2019. While the average cost of a room in a 4-star hotel in Georgia was 202 GEL per night and the average cost of a room in a guesthouse2 was 64 GEL per night.