In 9M 2024, the number of international visitor trips reached 5,043,663, with an annual growth rate of 4.5%. In the first nine months of 2024, Georgia's tourism sector achieved an 84% recovery relative to 2019 levels, - according to the report published by TBC Capital. Meanwhile, neighboring countries such as Russia, Armenia, and Ukraine remain below their 2019 performance. In contrast, Israel and the Middle East have demonstrated a robust recovery, reaching 152% and 136%, respectively.
Azerbaijan continues to report the lowest recovery rate at 14%. The primary reason for this limited rebound is the partially closed border on Azerbaijan's side, a measure tied to COVID-19 regulations. According to the Azerbaijani government’s directive, the restrictions related to the pandemic are still in place, with no clear timeline for their removal.
During the first nine months of 2024, international travel revenues grew by 6.5% compared to the previous year, totaling USD 3,461 million—an increase of 34% over 2019 figures. The countries that contributed to this growth were Russia and Turkey. It is notable that travel receipts from Turkey and Ukraine decreased in Q3 2024 compared to Q3 2023 by 13% and 7% respectively.
In September 2024, the average daily rate (ADR) for high-budget hotels was USD 143, reflecting an 8% increase compared to September 2023. However, the occupancy rate saw a moderate decline, reaching 66%, although this still represents a 12-percentage point drop compared to the same month in 2023.
