Foreign students have become a major driver of Georgia’s higher education sector growth, with Indian students accounting for 53.8% of all international students, according to a sector review by investment bank Galt & Taggart. The report notes that most Indian students in Georgia are enrolled in healthcare-related programs.
According to the review, higher education sector revenues grew by an average of 11.5% annually between 2019 and 2025, reaching GEL 1.3 billion last year. The growth was largely driven by an increase in the number of international students, which tripled during the period to 44,000, raising their share among all students to 19.8% - one of the highest levels globally.
Galt & Taggart says Georgia has become an attractive destination for international students due to affordable education and relatively low living costs. However, the investment bank warns that the sector is becoming increasingly concentrated, with heavy dependence on one country and one academic field. It says diversifying foreign student recruitment by country and study program should become a key strategic priority.
The report also highlights a mismatch between higher education outcomes and labor market needs. Georgia has a high concentration of students in business, law, and social sciences, while education, vocational, and technical fields remain underrepresented. As a result, unemployment among people with higher education in Georgia stands at 11%, compared with the OECD average of 4.8%.
Galt & Taggart notes that the higher education reform planned for 2026 aims to address these structural challenges through greater specialization, changes to academic programs, and restrictions on foreign student admissions at public universities. The bank says the impact of the reforms will depend on the quality of their implementation.
