Investment bank Galt & Taggart forecasts that Georgia’s tourism revenue will increase to $4.9 billion in 2026, up from approximately $4.7 billion in 2025, representing growth of around $200 million.
Despite the positive full-year outlook, tourism revenue declined by 2% year-on-year to $1.9 billion in the first half of 2026. The slowdown was mainly attributed to military tensions in the Middle East, which negatively affected travel demand.
In the second quarter alone, tourism revenue fell by 3.8% to $1.1 billion. The decline was driven by lower visitor spending from Iran (-65%), Saudi Arabia (-61.9%), and Turkey (-10.9%), while revenue from Israel also decreased by 3%.
The report notes that stronger tourism income from the European Union (+12%), Russia (+10%), Ukraine (+49.8%), and Azerbaijan (+10.3%) partially offset losses from Middle Eastern markets.
