Georgia Tourism Revenue Down 10%

Georgia tourism revenue declined by 10%, says the National Bank of Georgia. Revenues generated from tourism in August 2019 fell by 10% (46.8 million) compared to August 2018., confirming the overall decrease since the Russian embargo on flights took effect int June.

The decrease in revenue is a direct effect of the Russian ban for two main reasons. First, tourists coming from Russia with cars usually spend less during their stay than travelers flying in. Second, many hotels, flats and guesthouses offered lower prices to visitors in order to attract more clients. 

At the same time, the number of tourists increased by 5.8% compared to last year, and 4.3% in July. According to the respondents to the latest NDI Opinion Polls, tourism is Georgia’s greatest economic asset before agriculture and industry.