Georgia’s tourism revenues in 2021 amounted to $1.2 billion, up by 129.8% YoY, according to the tourism recovery review from the Galt & Taggart.
The figure decreased by 62.5%, compared to 2019 ($3.2 billion), and accounted for 38.1% of the 2019 level (before the COVID-19 pandemic).
Georgia’s revenues from international travel in December 2021 amounted to $126.1 million, up 9-fold YoY. At the same time, Georgia’s tourism revenues in the reporting period of 2021 accounted for 58% of the 2019 level ($217 million).
Georgia’s tourism revenues in 2021 mostly accounted for EU countries with a 14% share of the total revenues. Ukraine ranks second with a 13% share of the total revenues, followed by Russia (12%), Turkey (10%) and Israel (9%).
The volume of Georgia’s tourism revenues in 2021 accounted for 6.4% of the GDP, compared to 3.4% in 2020 and 18.7% in 2019, Galt & Taggart noted.
In the baseline scenario, Galt & Taggart expects Georgia’s tourism revenues in 2022 to recover to 80-85% of the 2019 level and total $2.8 billion (+123.2% YoY). The projected figure will account for 13% of the GDP, the report added.
Meanwhile, the total number of international visitors to Georgia in 2021 amounted to 1.8 million visitors, up by 7.7%. (Trend/Business World Magazine)