Publications

In the third quarter of 2019, Georgian economic climate has worsened rapidly. In this period, Georgian economists assessed Georgia’s present economic situation negatively; Moreover, the assessment of present economic situation in this quarter has deteriorated compared to both the previous quarter (Q2) of 2019 and the same time last year (Q3 of 2018). In the third quarter of 2019, Georgia’s economic situation in the next six months has also been assessed negatively by Georgian economists. In this quarter, expectations in six months has worsened compared to both, the second quarter of 2019 and the third quarter of 2018.
In Georgia, the average cost of a room in a 3-star hotel was 137 GEL per night in June 2019. While the average cost of a room in a 4-star hotel in Georgia was 232 GEL per night and the average cost of a room in a guesthouse was 76 GEL per night. The average cost of a room in a 5-star hotel in Georgia in June 2019 was 448 GEL per night. In Tbilisi, the average price was 618 GEL, followed by Samstkhe-Javakheti - 417 GEL, Adjara – 384 GEL, and Kakheti - 369 GEL.
In June 2019, compared to June 2018, hotel prices in Georgia decreased by 2.9%, this was mainly due to the prices of 3*, 4*,5* hotels. The prices of 3*, 4*, 5* hotels decreased by 7.3%, while the prices of guestouses increased by 9.9%. In June 2019, compared to June 2018, the number of international travelers trips in Georgia increased by 19.9%, and among the international travelers, the proportion who stayed in Georgia for 24 hours or more (classified as tourists) increased by 18%. 
In May 2019, compared to May 2018, hotel prices in Georgia increased by 3.4%, this was mainly due to the prices of guesthouses.In Georgia, in May 2019, compared to May 2018, the prices of 3*, 4*, 5* hotels decreased by 2.5%, while the prices of guestousesincreased by 15.9%. In May 2019, compared to May 2018, the number of international travelers trips in Georgia increased by14.2%, and among the international travelers, the proportion who stayed in Georgia for 24 hours or more (classified as tourists)increased by 18%;
In Georgia, the average cost of a room1 in a 3-star hotel was 128 GEL per night in May 2019. While the average cost of a room in a 4-starhotel in Georgia was 219 GEL per night and the average cost of a room in a guesthouse2 was 76 GEL per night.The average cost of a room in a 5-star hotel in Georgia in May 2019 was 494 GEL per night. In Tbilisi, the average price was 612 GEL,followed by Adjara – 479 GEL, Samtskhe-Javakheti - 375 GEL, and Kakheti - 375 GEL.
The first quarter of 2019 produced some interesting figures in Georgia’s external trade. In this period, external trade was recorded with a total of 121 countries. The data analysis shows that in the first quarter of 2019, compared with the corresponding period of the previous year, Georgia’s export has increased while the country’s import decreased. The analysis of Georgian trade based on import origin and export destination countries reveals that the volume of export has increased the most to Russia while the biggest decrease in imports was recorded with France.
In Georgia, the average cost of a room in a 3-star hotel was 123 GEL per night in April 2019. While the average cost of a room in a 4-star hotel in Georgia was 215 GEL per night and the average cost of a room in a guesthouse was 70 GEL per night. The average cost of a room in a 5-star hotel in Georgia in April 2019 was 484 GEL per night. In Tbilisi, the average price was 525 GEL, followed by Adjara – 473 GEL, Samtskhe-Javakheti - 368 GEL, and Kakheti - 367 GEL. In April 2019, in Georgia the hotel price index increased by 2.2% compared to March 2019. The 3-star, 4-star and 5-star hotel price index increased by 0.5%, while for guesthouses, the price index increased by 5%. In April 2019, compared to April 2018, the hotel prices in Georgia decreased by 1.8%. This was mainly due to price decreases of 3*, 4* and 5* hotels. In Georgia in April 2019, compared to April 2018, the prices of 3*, 4* and 5* hotels decreased by 2.9%, while the prices of guesthouses increased by 1.9%.
In April 2019, compared to April 2018, the number of international travelers trips in Georgia increased by 4.6%, and among the international travelers, the proportion who stayed in Georgia for 24 hours or more (classified as tourists) increased by 4.2%, however the hotel prices in Georgia decreased by 1.8%, among them the prices of 3*, 4* and 5* hotels decreased by 2.9%, while the prices of guesthouses increased by 1.9%. In April 2019, in Georgia the hotel price index increased by 2.2% compared to March 2019. The 3-star, 4-star and 5-star hotel price index increased by 0.5%, while for guesthouses, the price index increased by 5%. It has to be noted that In April 2019, compared to March 2019, the number of international travelers trips in Georgia increased by 4.6%, while among the international travelers, the proportion who stayed in Georgia for 24 hours or more (classified as tourists) increased by 6.1%. In Georgia, in the first quarter of 2019, the expenditure spent by international travelers on accomodation amounted USD 101.8 mln, while the average expenditure per visit - 228.9 GEL. These are accordingly 1.5% and 2.6% lower compared to the first quarter of 2018. According to Airbnb, In April 2019, among the Black Sea Countries the lowest price for an apartment was recorded in the capital of Bulgaria, Sofia – 40 USD, while the highest price was recorded in Moscow – 100 USD.
In the second quarter of 2019, Georgian economic climate has slightly improved. In this period, Georgian economists assessed Georgia’s present economic situation positively, However, the assessment of pres- ent economic situation in this quarter has deteriorated compared to the first quarter of 2019 and the second quarter of 2018. In the second quarter of 2019, Georgia’s economic situation in the next six months has also been assessed positively by Georgian economists. In this quarter, expectations in six months has slightly improved compared to the first quarter of 2019; Not- withstanding, the expectations in six months of Q2 2019 has deteriorated compared with the Q2 2018.
In March 2019, in Georgia the hotel price index increased by 5.1% compared to February 2019. The prices of hotels in Tbilisi increased by 4.2%. In March 2019, compared to February 2019, the increase of hotel prices in Georgia, can be linked to increased number of tourists trips, as the number of international travelers trips in Georgia increased by 31.9%, while among the international travelers, the proportion who stayed in Georgia for 24 hours or more (classified as tourists) increased by 32.6%. In March 2019, compared to March 2018, in Georgia the hotel price index increased by 1.1%. The number of international travelers in March 2019, compared to March 2018, increased by 6.4%, while among the international travelers the proportion who stayed in Georgia for 24 hours or more (classified as tourists) increased by 4.3%. It has to be noted that 2018 was the first year, when share of nights spent by the international travelers in hotels exceeded the share of nights spent in friends and relatives house. In Georgia, in 2018, by international travelers, the highest share of nights were spent in hotels - 39.6%, 26.5% of nights were spent in friends and relatives house, while in guesthouses - 12.7% and in apartment - 11.7%. In Tbilisi, among the 3-star hotels registered on booking.com website the highest share of prices ranges between 50-150 GEL, for 4-star hotels 150-300 GEL, while for guesthouses - 0-150 GEL