Facts & Figures

Key Economic Sectorial Overview

Industrial Manufacturing and Processing

Georgia provides significant investment opportunities in manufacturing sector, which has attracted more than USD 0.5 billion foreign direct investments since 2010 – 2014*.  New opportunities are expected to be grasped by Greenfield investments in export oriented manufacturing sectors, for which access to the European market would be attractive. The share of industry sector in Georgia’s GDP is 17.1% in 2014*.

There are significant business opportunities in processing of the primary agricultural goods into a higher value added products and supplying equipment and services (greenhouses, storage, deep-freeze facilities, packaging, etc.). Georgian agriculture offers foreign businesses the opportunity to invest in areas of unmet market demand, significant cost efficiencies and strong profit potential.

Tourism and Retail Sector

Tourism is another field, which witnessed significant growth in recent years and is considered to be an important driver of economic development and the creator of jobs as well as generator of revenues. The industry offers a wide diversification in terms of its sub-industries: summer sea resorts, four season mountain resorts (including skiing), spa-wellness, gaming and more. In fact From 2003 year to 2014 the number of international visitors to Georgia has increased from 300 thousand to 5,5 million.

According to Hotel Market Report, prepared by Colliers International, the highest average occupancy rates in Tbilisi are in international midscale brand hotels 75% and in international upscale brand hotels 74%. In addition, the ADR (Average Daily Rate) for International upscale hotels is - 203 USD.

With 17.4% of National GDP in 2014, trade is one of the largest economic sectors in Georgia. Annual per capita retail expenditure has doubled over the past decade. More than 9% out of total international visitors visited Georgia for shopping purposes in 2013 year.

Energy Sector

Energy sector is attractive from the perspective of both existing natural resources and developing infrastructure, as the country possesses huge hydro resources and offers untapped potential for investment. For the last years, Georgian has become net exporter of electricity and currently utilizes only 18% of its vast hydro resources. Georgian power grid is connected to the grids of all of neighboring countries, which are faced with either a structural power deficit or expensive power generation. From 2010 to 2014* Georgian energy sector has attracted almost USD 750 mln.

Transport and Logistics

Georgia is in a highly strategic location: It serves as an entry gate to the Caucasus and Central Asia as well as a stepping stone to the region. The country is the shortest route between the Black Sea and the Caspian Sea region. Construction of Baku-Tbilisi-Kars new railway line is on the final stage and it will further advance trade of goods in the whole region. The government is investing heavily in the development of road infrastructure-highways as well as local roads. At this stage, the government has negotiations with potential investors to build a new deep sea port in Anaklia on Black sea, with an ability to receive vessels of at least 6,500 TEU capacity. The new port will bring Georgia's logistical capabilities to a new level. Therefore, Georgia wants and can be the best place for regional offices, regional stocks, and a part of various value chains.

 

Area:

69,700 sq. km

Population(2015)

4.5mln

Life expectancy:

76 years

Official language:

Georgian

Literacy: 

99.7%

Capital:

Tbilisi

Currency (code)

Lari (GEL)

GDP (2014*) 

US $ 16.5 b.

GDP real growth rate (2014*)

4.7% 

GDP per capita (2014*)

USD 3 680.8

FDI Inflows (2014*)  

USD  $1 272.5 mln

Unemployment Rate 2013

14.6%

External Trade Turnover Growth in 2014

5 %