Despite ranking only fourth in visitor numbers, the European Union and the United Kingdom are the most important sources of tourism revenue for Georgia, according to a study by TBC Capital. The report highlights that visitors from these markets spend significantly more on average compared to other major source countries.
In the first quarter, Georgia generated $830 million from international tourism, up 0.5% year-on-year. Revenues from the EU and the UK rose sharply by 36% to $141 million, making them the top contributor by value. Russia ranked second with $124 million (down 12%), followed by Turkey with $120 million (up 12%).
The report notes that declines in visitor numbers from Armenia and Azerbaijan were offset mainly by weaker performance from Russia and Israel, which saw revenue drops of 12% and 13% respectively. Meanwhile, growth from the EU, UK, Turkey, and Ukraine helped stabilize overall tourism income.
Total international arrivals reached 1.17 million in the first quarter, a slight 0.2% decrease year-on-year. While tourist visits increased by 4%, one-day trips fell by 19%, largely due to reduced flows from neighboring countries. Overall, TBC Capital concludes that higher spending from EU and UK travelers continues to play a key role in sustaining Georgia’s tourism revenue growth.
