BAKU, Azerbaijan, Dec.15
By Tamilla Mammadova – Trend:
In the first half of 2020 Georgia experienced a substantial slowdown in its economic activities due to COVID-19, Trend reports via the Cushman & Wakefield report.
The hospitality sector was not an exception as the COVID-19 adversely affected the number of visitors in the country, and the absence of tourists deteriorated hotel occupancy.
However, in 3Q2020 the tourism and hospitality industry got better off compared to previous months. By 3Q2020 the quarantine had been finished and the epidemiologic situation in the country improved, seen in the reduced number of daily cases of the virus. Furthermore, Q3 usually reflects a high touristic season (July, August, September). As a result, some hotels that served as quarantine sites reopened again. People started to go on vacation. Railway travel also resumed and further boosted domestic travel.
Regarding the number of international guests, monthly arrivals of international visitors in 2020, 3Q2020 should be noted and is as follows: 45,842 people in July, 43,658 in August, 53,430 in September - 142,930 visitors in total.
Moreover, the total number of international visitors in 2Q2020 totaled 108,594, hence there was a slight increase in 3Q2020. Notably, compared to this year the total number of monthly international visitors for 3Q in 2019 was much higher and totaled 2,753,207. It is forecasted that in the following three months the number of international visitors will remain dwindling.
The retail sector reopened in the third quarter given the decreasing number of COVID cases between July-August and the impression that the pandemic had been leashed. Pent up demand and reduced prices on out-of-season goods resulted in boosted revenues as people returned to street outlets and malls; however, the detrimental effects of the shutdown in Spring rippled out to the third quarter.
The third quarter spelled somewhat of a return to normalcy for the office sector. Many of the tenants that had moved to work from home in the first and second quarters came back and repopulated the offices. However, this barely compensated for the lost revenue as well as increased occupancy due to lease terminations or expirations within the first half of 2020.
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