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Georgia’s revenues from tourism to surge in 2022 – Galt & Taggart

Georgia 23 January 2022 21:59
Georgia’s revenues from tourism to surge in 2022 – Galt & Taggart

BAKU, Azerbaijan, Jan. 23

By Maryana Akhmedova – Trend:

Georgia’s tourism revenues in 2021 amounted to $1.2 billion, which is an increase of 129.8 percent, compared to $542 million in 2020, Trend reports via tourism recovery review from the Galt & Taggart.

According to the report, the same figure decreased by 62.5 percent, compared to 2019 ($3.2 billion), and accounted for 38.1 percent of the 2019 level (before the COVID-19 pandemic).

Georgia’s revenues from international travel in December 2021 amounted to $126.1 million, which is a 9-times increase, compared to 2020 ($15 million). At the same time, Georgia’s tourism revenues in the reporting period of 2021 accounted for 58 percent of the 2019 level ($217 million).

Georgia’s tourism revenues in 2021 mostly accounted for EU countries with a 14 percent share of the total revenues. Ukraine ranks second with a 13 percent share of the total revenues, followed by Russia (12 percent share), Turkey (10 percent share), and Israel (9 percent share).

The volume of Georgia’s tourism revenues in 2021 acсounted for 6.4 percent of the GDP, compared to 3.4 percent in 2020, and 18.7 percent in 2019, Galt & Taggart noted.

In the baseline scenario, Galt & Taggart expects Georgia’s tourism revenues in 2022 to recover to 80-85 percent of the 2019 level and total $2.8 billion (123.2-percent year-on-year increase). The projected figure will account for 13 percent of the GDP, the report added.

Meanwhile, the total number of international visitors to Georgia from January through December 2021 amounted to 1.8 million visitors, which is an increase of 7.7 percent, compared to 1.7 million over the same period of 2020.

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