BAKU, Azerbaijan, Feb. 7
By Maryana Akhmedova – Trend:
Galt & Taggart investment bank forecasts Georgia’s GDP growth at 5 percent in 2022, which will be supported by continued recovery of the tourism sector, Trend reports via weekly market watch from the bank.
Meanwhile, Georgia’s GDP growth in 2021 is estimated at 10.6 percent, surpassing 2019 level by 3.1 percent, the report said.
According to the Galt & Taggart, tourism sector in Georgia continues to rebound despite emerging COVID-19 cases of the Omicron strain in the country. The number of the international tourist visiting Georgia in January 2022 amounted to 177,072 people, which is an increase of 424.4 percent, compared to the same period of 2021 (33,765).
However, the same figure decreased by 66.2 percent, compared to January 2020, when 523,689 tourists visited Georgia, and by 59.5 percent, compared to the same period of 2019 (437,218).
Georgia’s revenues from the tourism sector in January 2022 will account for 80 percent of the 2019 level. As for the full 2022, tourism revenues will recover by 80-85 percent of the 2019 level, Galt & Taggart forecasts.
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