Georgia's Tourism Market Watch

In December 2021, recovery in tourism continued and improved vs. previous months. Total international arrivals (tourists and same-day combined) stood at 160,763 persons – up 226.4% y/y and accounting for 30% of 2019 level. This growth was predominantly driven by 239.1% y/y increase in tourist arrivals. Same-day trips also posted growth of 144.4% y/y, but remain in low-figures due to persisting regulations of neighboring countries on a cross-border travel. Tourism revenues stood at US$ 126.1mn (up 9x y/y and accounting for 58.0% of 2019 level). Revenues are recovering faster than arrivals as in visitor mix tourists prevail and they are spending more than same-day arrivals. A 13% of Dec-21 tourism revenues were generated from Russia, followed by Turkey (11%), EU countries (10%), Israel (9%) and Ukraine (8%). We expect recovery in visitors and tourism revenues to accelerate in the coming months due to hopes of fading pandemic.