TBC Capital Holds Online Conference on COVID-19 Impact on Business Environment

TBC Capital has assessed the impact of COVID-19 on the economic environment and published a report. The analytical document was presented to TBC Partners via a digital platform at an online conference involving up to 250 business representatives.

The document specifies that the spread of COVID-19 has affected almost all sectors of the economy at this stage, however, it will particularly affect tourism, restaurants, aviation, long-term consumption goods and real estate.

TBC Capital estimates that the decline in tourist inflows will reach its maximum in April and May. The basic scenario predicts that the gradual normalization of the situation will start from the end of the second quarter and growth will resume by the end of the year. Overall, a 20% decline in tourism revenue in 2020 is expected.

“Given the current challenges, the TBC team will work with our partners in an active dialogue mode to overcome the challenges together.

We actively offer and implement preferential loan structure to business sector representatives.

All directions and departments of TBC use agreed action plan to ensure continuity of working process and complete operations, while ensuring maximum remote operation.

Today's shared analysis and findings are an additional powerful tool for companies to evaluate their situation well, which we believe will help them plan for the coming months effectively. Due to the changing situation, such analysis will be regular and we will provide our updated report to the public in the next 2-3 weeks,” stated Giorgi Tkhelidze, Deputy Director General of TBC.

The analysis submitted by TBC Capital can be found at: www.tbcresearch.ge/en/Category/Macro-Reports