TBC Bank Chief Economist, Otar Nadaraia, declares that many factors affected the economic growth rate, but tourism is one of the main factors among others.
The growth of the real gross domestic product amounted to 11.8% in April, while the average rate for the first four months of 2024 was determined at 9.0%.
"GDP growth rate was double-digit in April. First of all, tourism was one of the factors for the economic growth. There is no official information yet, but you know that we publish a report on tourists' expenditures on TBC channels. I would also like to thank "TAV Georgia", which provided us with information regarding the number of visitors arriving at Tbilisi and Batumi airports, there is a really big increase compared to the previous year. Tourism has the main effect, while migration is on the same level. Other factors also affect the economic growth. Foreign exchange inflows are still strong, although m-o-m dynamics show us that there is no such growth,", Otar Nadaraia explained.
