Economic Overview
Georgia has undertaken significant reforms resulting in notable political and economic advancements, boasting modern infrastructure, international brand hotels, and professional services.
Georgia, located at the crossroads of Europe and Asia is covering a territory of 69 000 square km. Known for its ancient history, incomparable culture and identity, number of UNESCO World Cultural and Natural Heritage sites, and warm hospitality creates an inviting and inspiring atmosphere for all visitors. The fascinating Caucasus Mountains and the Black Sea Coastline showcase the marvelous landscapes while savoring Georgian unique gastronomy and wine. Georgia and the City of Batumi offer a wealth of experiences including contemporary infrastructure, that also ensures an exceptional choice for MICE events.
Georgia aspires to join the European Union and on December 14th, 2023, Georgia was granted candidate status by the European Union, marking an important milestone in its relationship with the EU. Additionally, Georgia has prioritized fostering business development within its borders by promoting entrepreneurship, offering private investments, and implementing tax incentives. These efforts have positioned Georgia as an appealing choice for the global business community.
As the number of international tourists grows, so does the real estate sector in Georgia's Black Sea resorts, particularly in the construction of internationally recognized hotel brands. Among Georgia's numerous destinations for visitors, Batumi stands out as one of the largest and fastest-growing. The Ajara Region, located in southwestern Georgia, is known for its gorgeous coastline scenery and offers a variety of enjoyable seaside adventures and experiences. In 2022, Ajara welcomed about 4 million international and domestic visitors, with an ambitious target of exceeding 6 million visitors by 2025.
The government of Ajara A/R continuously works to capture the interest of the international business community and to assist investors in easy-doing business and making efficient business investments. The strategic location of Ajara serves as the bridge between European and Asian countries, providing direct access to European and Chinese markets. Georgia has preferential access to the 2.3 billion consumer market thanks to the Deep and Comprehensive Free Trade Agreement (DCFTA) with the European Union and FTAs with many other nations. Due to its dynamic economic growth, business-friendly legislation, and liberal tax system, Batumi is a prominent destination for investments, business development, and receiving significant benefits.