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Economy

January-October Foreign Trade Turnover Rose by 20.5%

Georgia’s foreign trade turnover in January-October 2018 (without undeclared trade) made up 10 305.9 million USD, up 20.5% as compared to the same period of 2017, including the exports totalled 2 751 million USD, up 24.5% and the imports amounted to 7 555 million USD, up 19.2%. Georgia’s negative trade …

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Travel Industry to Record 2.4 Billion International Trips by 2030

Market research company Euromonitor International released today new data on the future of the travel industry. New research shows the travel industry is set to record strong growth with international arrivals reaching 2.4 billion by 2030, corresponding to USD 2.6 trillion in incoming receipts.  China, France and the US will …

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Medical Tourism Market in Georgia sees 30% Growth

19,500 foreigners arrived in Georgia for medical purposes in the first 9 months of 2018, which is 30% more than in the same period of 2017. According to the head of the Tourism Association Nata Kvachantiradze, people arrive in Georgia for postoperative recovery and not only. “Medical tourism is one …

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BP Georgia and USAID Zrda Activity to Support Communities Across Georgia

On December 18, 2017, USAID Zrda’s (Economic Growth program) Chief of Party, Brian King and BP Exploration (Caspian Sea) Limited, Georgia’s External Affairs Manager, Gia Gvaladze signed an agreement to improve cooperation in 41 villages where BP Georgia and USAID Zrda activities currently overlap. It ensures joint projects respond to the needs of …

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Luka Chachibaia: GWP will Invest 200 million GEL in Three Years

The company “Georgian Water and Power” talks about the activities carried out in 2018 and plans for 2019. According to Luka Chachibaia, Director of Operations Management, GWP has done more than 140 km of water and sewerage network this year. The network was also started in areas where the water …

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Local Apple to Replace Imported Product in Georgia

Alioni company consultant Archil Lobzhanidze says that the imported apples in Georgia will be replaced with local produce. As for him, the trend is clearly visible and is already affected the price. If the wholesale price of imported apples was GEL 1.5 last year, this year it  has decreased and …

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Allocations for Municipalities to Rise by 107 million GEL in 2019

Under the new formulation, the 2019 allocations for municipalities will increase by 107 million GEL as compared to 2018, the parliament’s majority MP Zaza Gabunia said. When talking about decentralization reforms, fiscal decentralization is one of the important directions, he added. Civil engagement is of crucial importance to resolve everyday life …

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Rehabilitation of Akhtala Begins in 2019

In the spring of 2019 rehabilitation works will begin on the medicinal-balneological resort Akhtala. According to its head, the construction will take 2-3 years. According to the privatization conditions, the buyer has to invest at least 12 000 000 GEL and set up a hotel complex with 120 rooms that …

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Russia Reported as Georgia’s Major Fuel Supplier

According to Association of Oil Product Importers, in October 2018, imports of aviation fuel made up 8.3 thousand tons, down 2 000 tons compared to September 2018 (10.3 thousand tons). The country imported 83.6 thousand tons in January-October 2018, up 5.5 thousand tons year on year (78.1 thousand tons). Due …

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