georgia tourism revenue

Georgia's Tourism Revenue Surges to $4.1 Billion in 2023

Georgia's tourism sector witnessed a remarkable surge in 2023, with revenues exceeding $4.1 billion, marking a significant 17% increase compared to 2022. this year's earnings from international travel have outperformed the pre-pandemic figures by 24%, indicating a robust recovery and growth in the industry..

Data from the National Bank of Georgia (NBG) reveals that the 2022 figures had already surpassed 2019's pre-pandemic levels by 106%, and this positive trend has continued steadily.

A notable portion of the tourism revenue, approximately 13.4% or about $550 million, was contributed by visitors from European Union countries. Despite a slight decline in the last quarter, Russia remains a major source of tourism income for Georgia, accounting for 22.8% of the total revenue.

Interestingly, there has been a marked decrease in spending by tourists from Saudi Arabia, which dropped to $11.8 million in the fourth quarter from $67 million in the third quarter of 2023. Similarly, tourist expenditure from Israel also saw a reduction, falling to $50 million in the fourth quarter from the previous quarter's $110 million.

These figures underscore the dynamic nature of Georgia's tourism sector, reflecting both the resilience and the evolving patterns of international travel to the country.

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Sectoral spotlight: Georgia’s tourism sector sees ‘record revenues’ in 2023, sets out plans for 2024

2023 was a banner year for tourism, according to statistics published by the Georgian National Tourism Administration in early February. Georgia brought in a record-breaking $4.1 billion in tourism revenue, which is 17% more than 2022 and a 26% increase compared to the pre-pandemic year of 2019. Tourist-type visits exceeded 4.6 million, an almost 100% recovery compared to 2019, Georgian National Tourism Administration (GNTA) head Maia Omiadze recently told the media.

Deputy Minister of Economy Mariam Kvrivishvili attributes this success in the tourism sector to various “successful activities,” including Georgia’s hosting of the 2023 Freestyle Ski and Snowboard World Championships in Bakuriani and the country’s host position for ITB Berlin, a major international tourism fair.

The Deputy Minister also highlighted the government’s efforts to establish more direct airline traffic with “strategically important target countries.” She noted the introduction of several European airlines and airlines from India to the Georgian air market in 2023, contributing to the diversification of the tourist market and resulting in increased tourist flows and revenues.

Plans for 2024

Looking ahead to 2024, the Ministry of Economy and tourism administration has outlined plans to enhance the country’s visibility as a visitor destination, host more significant events, and establish additional direct air access to “strategically important” countries.

Further to this, the government offered two other major aviation-related announcements in 2023: plans to construct a new airport in Telavi that could receive its first guests as early as May 2024 and plans to begin constructing a new international airport in Tbilisi, which former Prime Minister Irakli Garibashvili lauded as a move that would turn Georgia into an “aviation hub.”

The Deputy Minister of Economy has also announced several major international events coming to Georgia in 2024. As Georgia looks to solidify its position as a winter ski destination, its ski resorts have attracted the attention of the International Ski and Snowboard Federation following a successful hosting of the 2023 Freestyle Ski and Snowboard World Championships in Bakuriani. Bakuriani kicked off the 2023-2024 ski season with a successful hosting of the Moguls World Cup in December 2023, which brought 90 athletes from 16 countries to participate in the competition.

Also notable was ski town Gudauri’s first-ever hosting gig for the Snowboard Cross World Cup in February. In preparation for the international competition, which Director of Mountain Trails Agency Irakli Burchuladze said would “mark the resort on the world map,” an estimated GEL 70 million ($26 million) was invested into updating the resort’s infrastructure. Visitors to Gudauri can now enjoy two new ropeway systems and an additional six-kilometer track. A new snow blower is also now operating for the infrastructure, with contactless check-in points updated on all cable cars, new information monitors installed, and new road and ski signs added, according to the Ministry of Economy. In March, Svaneti’s Tetnuldi resort will also host the qualifiers for the Freeride World Tour.

Beyond winter-focused events, Georgia is also set to host World Tourism Day this September – an event supported by the United Nations’ World Tourism Organization that GNTA’s Omiadze told reporters will bring “a lot of high-level guests to Georgia…and we will have the opportunity to introduce them to our country and the investment potential of our country, as well as the potential of tourism.”

In addition to these major events, Omiadze recently told reporters that “active campaigns” would be implemented in 2024 to promote the country in the European Union, the United Kingdom, Persian Gulf countries, India, and China.

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Georgia posts record $4.1 bln tourism revenue in 2023

TBILISI. Feb 12 (Interfax) - Georgia recorded an all-time high of $4.1 billion in tourism revenue in 2023, head of the Georgian National Tourism Administration Maia Omiadze told reporters on Monday.

"Georgia had unprecedented revenue over $4 billion in 2023, up 26% from 2019. This is the first time in the history of Georgia that tourism revenue has been so large," Omiadze said.

The pre-pandemic 2019 level of tourist arrivals was almost fully regained last year, she said.

The Georgian National Tourism Administration reported on Monday that international tourism revenue exceeded the 2019 level ($856.7 million) by 26.2% and the 2022 level ($608.7 million) by 17.3% in 2023. It also said that Georgia earned a record $4.1 billion from tourism last year.

According to the administration, tourism revenue stood at $873.677 million in the fourth quarter of 2023, up 27.4% from 2019.

The number of tourists grew considerably last year, in addition to the rise in revenue, the administration said. In particular, Georgia saw 7,072,220 international travelers, 75.6% more than in the pre-pandemic period and 30.3% more than in 2022.

"Last year, Georgia recorded 4,669,467 international tourist arrivals, or 91.9% more than in 2019, while growth compared to 2022 reached 27.8%. In October-December 2023, Georgia received 1,505,240 international travelers, or 71% more than it did before the pandemic," the administration said.

Georgia registered 1,013,891 international tourist arrivals in the fourth quarter of 2023, or 93% more than in 2019, it said.

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Georgia Tourism Revenue Growth

• Georgia Tourism Revenue dropped 83.5 % YoY in Dec 2020, compared with an increase of 0.9 % YoY in the previous year
• Georgia Tourism Revenue Growth rate data is updated yearly, available from Dec 1998 to Dec 2020
• The data reached an all-time high of 205.3 % in Dec 1998 and a record low of -83.5 % in Dec 2020

View Georgia's Tourism Revenue Growth from 1998 to 2020 in the chart:

What was Georgia's Tourism Revenue Growth in 2020?

Georgia Tourism Revenue dropped 83.5 % YoY in Dec 2020, compared with an increase of 0.9 % YoY in the previous year See the table below for more data.

Tourism Revenue Growth by Country Comparison

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Time in Tbilisi: April 29, 2024 22:37

Georgia expects $6 billion in tourism revenue in 2024

Income from tourism amounted to $3.3 billion in 2019. The share of tourism in the country's economy exceeded eight per cent that year. Also, more than 150,000 people were employed in the tourism industry. Photo: Nino Alavidze/Agenda.ge.

Georgia expects 10.5 million international visitors in 2024 and $6 billion in earnings from the tourism sector in 2024, said Head of the Georgian Tourism Administration Mariam Kvrivishvili.

Over the next 4 years, special attention will be focused on strengthening the tourism industry and attracting more high spending tourists to the country,” she said, noting the state continues to expand training programmes for tourism employees to improve service levels and increase employment overall in the country.

Mariam Kvrivishvili summarised the infrastructure projects implemented in the mountain resorts of Georgia.

She noted development at ski resorts, which have increased the number of their visitors seven-fold. Also, she said that about 30 new ropeways were set up, new resorts were opened, and an artificial snow system was set up in Gudauri and Bakuriani.

All resorts are equipped with modern equipment and, most importantly, ski patrol has been created to protect tourists,” she said.

From 2012 to 2020, the number of visitors entering the country increased from 4.7 million to 9.4 million. As for earnings from tourism, it increased by $2 billion which is 2.5 times more than before.

Income from tourism amounted to $3.3 billion in 2019. The share of tourism in the country's economy exceeded eight per cent that year. Also, more than 150,000 people were employed in the tourism industry.

Georgia has opened its borders to travellers from Germany, France, Latvia, Lithuania, Estonia.

All five countries have also opened borders for Georgia.

In addition, Georgia is on a list of countries to enter the European Union as of July 1. 

The government of Georgia is launching a new state programme 'Travel for Georgia' to promote domestic tourism, announced Georgian Prime MInister Giorgi Gakharia at today's government meeting. 

Domestic tourism resumes today in Georgia, while the country will open its doors to international tourists on July 1. Railway travel also resumes today. Georgian Railway officials say the company is ready to ensure the safe transportation of passengers and to implement the regulations imposed by the Ministry of Health of Georgia.

Tourists from Czechia may be among the first to travel to Georgia after the country lifts its travel ban imposed in mid March amid the coronavirus pandemic. Israel is also promoting Georgia as a safe tourist destination; talks are underway with Greece, Poland and Baltic states as well.

Georgia is setting the goal of becoming the first country to open its doors to foreign tourists starting July 1 after months of lockdown due to the coronavirus pandemic and to welcome international travellers with a new image - 'Georgia - Safe Destination!'. Georgian Economy Minister Natia Turnava  said that Georgia will be promoted as a safe destination for international travellers, as an internationally acclaimed and successful country in the fight against the COVID -19 pandemic. 

A total of 49,260 international visits have been carried out to Georgia in December 2020 which is a 90.8 per cent decrease compared to the same period of last year, says the Georgian National Tourism Administration.

A total of 1,393,914 international travellers visited Georgia in January-October 2021, which is 1.8% less than in the same period of 2020, and 79% less than the same period of 2019.

Georgia received $2,854,529,093 from international tourism between January and October of this year, with the figure surpassing pre-pandemic numbers from 2019 and hitting record-high markers this year, the Georgian national tourism administration announced on Thursday.