Galt & Taggart's study discusses in detail the dynamics of tourism recovery both in Georgia and globally. The study analyzes various factors, including the impact of migrants on the hospitality sector, the dynamics of hotel recovery and the challenges and prospects of the sector in general.

The study says that in 2022 tourism in important tourist markets recovered rapidly. However, Georgia is slightly behind this trend, as the Russia-Ukraine war has slowed down tourist visits, mainly from the EU countries. It is worth noting that in July-August 2022, the recovery of tourism accelerated, and tourist visits made 78.7% of the 2019 level, while the revenues - 123.6%. The faster recovery of the revenues is explained, among other things, by the influx of migrants. 

The study also analyzes the planned hotel projects. For years, this sector has been one of the most attractive for investors, but the coronavirus pandemic has changed the situation and a lot of planned projects have been canceled. In addition, the permits issued for the construction of hotels have also decreased compared to the previous years, which indicates the deteriorating sentiments of investors. In the short term, the ongoing conflicts in the region are the main challenge for the tourism sector, however, in the medium and long term, the attractiveness rate of hotels in the regions is high.

"The main goal of the event was to share the view of industry analysts on the current situation, challenges and prospects with the representatives of the tourism sector. Tourism is an important sector of the economy of Georgia, which was largely affected by the pandemic, and the ongoing geopolitical conflicts in the region also have a significant impact on the prospects of the sector. Accordingly, we think that in such a situation it is especially important to meet with the participants of the field and share our expectations." – the Head of Research at Galt & Taggart, Eva Bochorishvili, said.

For more information, please visit the website: www.gt.ge