According to Galt & Taggart, Georgia will receive $ 1.2 billion from tourism this year.
"Opening the land borders from June 1 will help the gradual recovery of tourism. Before the pandemic, in 2019, 70% of the total land flow was coming in. We expect that in 2021, Georgia will receive $ 1.2 billion from tourism, which is 36% of 2019 tourism revenue. "- reads the bank's report.
Last year, the loss of the tourism sector was more than $ 2.7 billion because, in 2019, Georgia received $ 3 billion 269 million in revenue from international tourism, while last year - only - $ 541.7 million.
It is also noteworthy that Galt & Taggart raised their 2021 economic growth forecast to 7%. According to the previous estimates of the Investment Bank, the Georgian economy was to grow by 5% this year. Still, after Geostat published a report on 44.8% growth in April, Galt & Taggart raised their expectations for growth.