BAKU, Azerbaijan, June 2
By Tamilla Mammadova – Trend:
As a result of the COVID-19 pandemic, in the first quarter of 2020, revenue from international visits dropped by 26 percent year-on-year, Trend reports citing the annual report of Georgian parliament.
As reported, in the pre-pandemic period, tourism was one of the fastest growing sectors of the economy, accounting for 11.5 percent of GDP, while the number of people employed in industry exceeded 150,000 people as of 2019.
“The government has developed targeted tourism support measures to help the tourism industry overcome the crisis. Economic entities in the tourism industry will be fully exempted from property taxes in 2020, and income tax will be deferred until the end of 2020," the report said.
The government subsidizes 80 percent of the interest rate on loans for six months for hotels with a turnover of less than $20 million, which comprise the largest part of the Georgian hotel industry. For travel companies and tour operators, the government will subsidize interest on a bank guarantee for six months.
The government will also conduct special events to ensure the rapid recovery of tourism services and will subsidize funds for participation in tourism exhibitions.
"In addition, a three-stage plan has already been developed. From June 15, domestic tourism will be restored, and from July 1, it is planned to restore the international tourist flow,” the report said.
---
Follow the author on Twitter: @Mila61979356