Revenues from tourism stood at USD 550 million in August, - reads the report published by Galt&Taggart. The annual increase made up 5% y-o-y.
Tourism revenues estimated at US$ 550mn in Aug-23. According to our estimates, tourism revenues increased by 5.2% y/y, reaching US$ 550mn in Aug-23. Overall, tourism revenues reached US$ 2.9bn (+34.7% y/y) in 8M23, based on our estimate", - reads the report.
It is important to note that since 2023, the National Tourism Administration has worsened the transparency of statistics, and if until now statistics of the monthly number of visitors were published, now only quarterly numbers are published. Therefore, at the moment, it is not known how many million visitors Georgia had at the peak of the tourist season.
It is also unknown from which countries they visited Georgia during the past month.
As for the methodology, the tourism statistics do not include migrants who moved to the country, the number of which has increased dramatically in the last two years.
