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Georgia’s economy and tourism

Georgia among First Three Countries in World Bank Business Ready (B-Ready) Ranking:

In the World Bank's Business Ready (B-READY) 2024 Georgia is in the top three among 50 countries, along with Singapore and Estonia.

The Business Ready ranking has replaced the World Bank's Doing Business rating, where Georgia was at the 7th position.

Notably, in the B-READY ranking Georgia is ahead of Hong Kong and New Zealand, which were ahead of Georgia in the Doing Business rating.

The purpose of the B-READY rating is to quantitatively and qualitatively evaluate the business environment for the development of the private sector. Its indicators combine all three stages of a company's life cycle: starting business, business operation/expansion and closing business.

Georgia is in the top ten of the worlds in 7 out of 10 indicators. In the ranking, each indicator is evaluated in three main directions which are "Regulatory Framework", "Public Services" and "Operational Efficiency". Georgia ranks 2nd in the world ranking in "Operational Efficiency", in terms of "Regulatory Framework" the country is on 3rd place, and on the 14th position in regarding the "Public Services" pillar.

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Tourism

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  • Georgia is known for its diverse landscapes, ancient history, and warm hospitality.

  • Key attractions: Tbilisi (capital), Kazbegi, Batumi (Black Sea coast), Svaneti and Tusheti (mountains), wine regions like Kakheti, and UNESCO sites like historical monuments of Mtskheta and Gelati monastery.

  • Popular for adventure tourism (hiking, skiing), wellness tourism, and wine tourism.

  • Visitor numbers have been rising steadily post-pandemic (almost 200% more than an average annual growth in the world), with strong interest from Europe, the Middle East, and neighboring countries.

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  • Record-breaking tourist arrivals: Georgia welcomed 5.1 million international tourists in 2024, marking a 9% increase from 2023 and slightly surpassing pre-pandemic levels from 2019.( http://​Georgiatoday.ge)

  • Top source countries: The majority of tourists came from Turkey (1.3 million), followed by Israel (310,982), Kazakhstan (178,930), India (124,335), and China (88,583). ( http://​Georgiatoday.ge)

  • Tourism revenue: International tourism generated $3.5 billion in revenue during the first nine months of 2024.( http://​agenda.ge)

  • Air travel growth: Passenger traffic through Georgian airports exceeded 7.4 million, a 24% increase from 2023. Additionally, 13 new direct flight routes were established, including services by Austrian Airlines, Transavia, and Air China. (http://agenda.ge)

Economy

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  • Georgia has a liberal economic policy, low taxes, and is considered business-friendly.

  • Key sectors: agriculture, tourism, energy (hydropower), mining, and transport.

  • Strategic location: serves as a trade hub between Europe and Asia.

  • GDP growth has been positive in recent years, with remittances and foreign direct investment playing key roles.

  • Currency: Georgian Lari (GEL)

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  • GDP growth: Georgia's economy expanded by 9.4%, reaching a total GDP of 91.9 billion GEL. ​spnews.io

  •  Leading sectors:

    - Trade: 15% of GDP

    - Real estate: 9.9%

    - Manufacturing: 9.3%​

  • Fastest-growing industries:
    - Education: 29.1% growth
    - Information & Communication (including IT): 24.3% growth
    - Public administration & defense: 17.9% growth​spnews.io

  • Other notable sectors:
    - Construction: 14.2% growth
    - Financial services: 14.9% growth
    - Transport & storage: 8.3% growth
    - Accommodation & food services: 8.1% growth​spnews.io

  • Currency: As of April 2025, 1 USD ≈ 2.76 GEL. ​spnews.io

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