Posted: 6 months ago

Galt & Taggart Forecasts $4.2 Billion in Tourism Revenue for Georgia in 2023

Galt & Taggart's latest report projects a significant boost in Georgia's tourism sector for 2023. According to their estimates, in November of the previous year, the country amassed $274 million from international tourist spending, marking a 20.9% increase compared to the same period in the preceding year.

Overall, the analysis by Galt & Taggart suggests that Georgia's tourism earnings reached $3.9 billion over the first 11 months of 2023. This figure represents a 22.4% rise from the same timeframe in the prior year. The total tourism revenue for 2023 is estimated to be around $4.2 billion, indicating a 19% increase.

The National Administration of Tourism of Georgia is yet to release the third-quarter report for 2023. Detailed statistics, including the total number of visitors and their countries of origin for 2023, will be available following the release of this data.

Looking ahead to 2024, Galt & Taggart anticipates the tourism revenue for Georgia to climb to $4.5 billion, signaling continued growth in the sector.