TBC Capital shares outlook on Georgia’s tourism recovery

Georgia Materials 8 December 2021 12:23 (UTC +04:00)
TBC Capital shares outlook on Georgia’s tourism recovery

BAKU, Azerbaijan, Dec. 8

By Maryana Akhmedova – Trend:

The number of visitors to Georgia from January through October 2021 recovered by only 21 percent to its 2019 level (before the COVID-19 pandemic), Trend reports via statistical data by the TBC Capital.

According to TBC Capital, the high recovery in international visitor trips can be observed for the Middle East countries.

The number of visitors from Middle East traveling to Georgia over first 10 months of 2021 recovered by 65 percent of its 2019 level, which is, most probably, due to high rate of vaccination in Georgia's major source countries from the Middle East, the report said.

Although, the biggest share in visitor trips to Georgia over the reporting period of 2021 is still attributed to the neighboring countries, TBC Capital said.

Decreased share of neighboring countries in visitor trips to Georgia was one of the most evident changes caused by the COVID-19 pandemic, thus, the recovery of visitor trips from Azerbaijan, Russia and Armenia since the global pandemic has been slow, the report said.

The largest number of international visitors from Central and Eastern Europe to Georgia usually account for Azerbaijan, Armenia and Russia, TBC Capital noted.

However, Russia’s share in the total international trips to Georgia over the reporting period of 2021 showed annual increase, while Azerbaijan and Armenia showed minor decline in their shares.

According to TBC Capital, travel restrictions, as well as low vaccination rates, are among major reasons for a weak recovery of international visits to Georgia from these countries.

International trips from Ukraine to Georgia in the reporting period of 2021 proved resistant to the COVID-19 pandemic – the number decreased by only 30 percent, compared to 2019 rate, and increased by 20 percent year-on-year.

Meanwhile, Georgia’s average number of monthly visits from domestic tourism in the second quarter 0f 2021 increased by 27.3 percent, compared to the same period of 2019. TBC Capital explains that the activation of domestic tourism was caused by the closed borders and other restrictions due to the COVID-19 pandemic.

TBC Capital expects international trips from Russia and Armenia to slowly recover, while international trips from Ukraine, Israel and Saudi Arabia should increase further.

The recovery in international visits from Azerbaijan to Georgia will slowly recover and take a stronger pace in the second half of 2022, TBC Capital said.

“Domestic tourism in Georgia will continue to play a major role in the recovery. However, the availability of COVID-19 booster vaccine doses will allow inbound and outbound tourism to bounce back. This will reduce the demand for domestic tourism to a certain degree,” TBC Capital concluded.


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