Levan Davitashvili, the Georgian minister for economy, on Monday said the government was expecting about three billion dollars in income from the domestic tourism sector this year, which would mark a number close to the pre-pandemic figure of $3.2 billion. 

• Georgia’s international tourism revenue up 163% in August, hits record-high $523 million

Speaking to the media, the minister said the tourism sector recovery process was “ongoing actively” even outside seasonal periods.

I believe the [recovery] process will continue proactively. Between July and September, tourism income outperformed that in the pre-pandemic period. The winter season is expected to be active thanks to restored flights to a number of directions”, said the minister. 

He also said the recovery trend was “absolutely positive” despite a lack of tourists from several traditional markets “due to the current geopolitical situation in the region”, adding a further growth in the number of tourists was “very likely” [after the ongoing conflict in Ukraine]. 

Economy minister Levan Davitashvili said on Monday that the tourism sector recovery trend was "absolutely positive". Photo: economy ministry press office.

Davitashvili also noted a “rapid development” of the capital market in the country was “one of the major topics” within structural reforms, adding the government had discussed the 2022-2028 strategy for the development of the capital market of Georgia and approved the related 2022-2024 action plan at its weekly meeting on Monday.

He said the move would contribute to the unification of the country's economic space, ensure freedom of economic activity and establishment of a “competitive and stable investment environment”. 

Davitashvili also said ensuring a “rapid development” of the capital market was among the government's priorities, and was “fully consistent” with the country’s obligations towards the European Union as part of the 2014-signed association agreement between the sides. 

agenda.ge