According to TBC Capital, in the first nine months of 2024, Georgia recorded 5,043,663 international visitor trips, a 4.5% increase year-on-year, achieving 84% of its 2019 tourism levels. Neighboring countries like Russia, Armenia, and Ukraine are still below 2019 levels, while Israel and the Middle East have surpassed them, with recoveries of 152% and 136%, respectively.

Azerbaijan’s recovery remains the lowest at 14%, largely due to continued border restrictions related to COVID-19, with no clear timeline for easing.

International travel revenues grew by 6.5% in 2024, reaching USD 3.46 billion, 34% higher than in 2019. Growth was driven by Russia and Turkey, although travel receipts from Turkey and Ukraine dropped by 13% and 7% respectively in Q3 2024 compared to the same period in 2023.

In September 2024, high-budget hotels had an average daily rate of USD 143, up 8% from 2023. However, the occupancy rate fell to 66%, a 12-percentage point drop from the previous year.