The Business Association of Georgia (BAG) has identified the scarcity of a qualified workforce as the foremost challenge hindering business development in the third quarter of 2024.
According to the research findings, 54% of the surveyed companies reported a shortage of specialists, while 42% cited a lack of labour as a significant issue. This shortage of specialists was particularly pronounced in the industrial and service sectors, whereas the deficiency of labour was notably felt in industry, trade, and construction.
Additionally, the research indicated that judicial and administrative barriers have decreased by one percentage point compared to the second quarter. However, 75% of companies still identified the regulatory environment as an impediment to business operation.
In the third quarter of 2024, 49% of the businesses surveyed expressed concerns about factors restricting their activities, representing a 19-percentage-point decline compared to the previous quarter.
The BAG’s research, conducted in collaboration with the PMC Research Centre and utilizing the methodology of the IFO Institute (Leibniz Institute for Economic Research at the University of Munich), plays a crucial role in evaluating the business landscape in Georgia.
