"This year, the economy of Georgia will grow by 7%, and tourism revenues will reach $4.3 billion," - the Galt&Taggart weekly review reads. 

According to preliminary data published by the National Statistics Office of Georgia (GEOSTAT), a real GDP grew by 7.5% in June 2024, following a 9.2% increase in the previous month. In total, in the first half of 2024, the economy of Georgia grew by 9.0% annually. In June, the economy growth was mainly determined by the fields of financial and insurance activities, construction, information and communications, transport and professional and scientific activities. However, a recession was observed only in the processing industry.

"According to our baseline forecast, Georgia's economy will grow by 7.0% in 2024. We forecast tourism revenues to reach $4.3 billion in 2024 (up from $4.1 billion in 2023)," - the review states.