Georgia sees recovery in tourism revenues – TBC Capital

Georgia Materials 28 December 2021 09:02 (UTC +04:00)
Georgia sees recovery in tourism revenues – TBC Capital

BAKU, Azerbaijan, Dec. 28

By Maryana Akhmedova – Trend:

Georgia’s tourism sector from January through November 2021 recovered by 37 percent of the 2019 level, Trend reports via economic report from the TBC Capital.

However, the total number of visitors to Georgia over the reporting period of 2021 amounted to 1.5 million people, which is still 78 percent behind, compared to the same period of 2019, the report said.

The number of tourist only in November 2021 decreased by 69 percent, compared to the same period of 2019, although the figure is still improving, compared to previous months, TBC Capital noted.

The same figure increased by 267 percent, compared to November 2020, the reported said.

According to the report, the share of Azerbaijani visitors to Georgia in November 2021 decreased to 5 percent, compared to 21-percent share over the same period of 2019, thus, Azerbaijan shows the slowest recovery in the region in terms of visits to Georgia.

In the meantime, the number of tourists from the Middle East in November 2021 surpassed the 2019 level by 44 percent, the report noted.

As COVID-19 cases still on the rise in Georgia, the increase in tourists should not be expected in December 2021, TBC Capital noted.

Meanwhile, Georgia’s revenues from tourism in the reporting period of 2021 amounted to $111 million, which is 45 percent below the 2019 level, TBC Capital said.

The highest shares in revenues in November 2021 accounted for Russia (14 percent), Turkey (13 percent), Israel (13 percent), and Ukraine (7 percent), while the share from Saudi Arabia totaled 5.3 percent, which is a significant increase compared to 2019 level. The share of the EU countries and the UK accounted for 12 percent, which is the same as over the same period of 2019.

Usually, winter season in Georgia attracts not only international tourists, but domestic visitors as well. However, low COVID-19 vaccination rate, and the COVID-19 certification demand put pressure on the domestic demand, TBC Capital noted.

In addition, new strain of coronavirus and the possibility of imposing COVID-19 restrictions by countries of origin for tourist arriving to Georgia may slow down the recovery of the country’s tourism sector, the report concluded.


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