According to Galt & Taggart’s Economic Weekly review, Georgia earned a total of $2 billion in tourism revenue in the first six months of 2025.
The investment bank’s report breaks down the revenue by quarter and shows the growth:
“We estimate that tourism revenue grew by 9.1% year-on-year in the second quarter of 2025 to $1.2 billion. In total, we estimate that tourism revenue in the first half of 2025 was $2 billion (+6.2% y/y). We project that tourism revenue will reach $4.5 billion in 2025.”
The Weekly also cites tourism statistics published by the Georgian National Tourism Administration last week. The investment bank notes that one of the main contributors to the increased visitor numbers was Russia.
"In 2Q25, international visitors to Georgia rose by 7.0% y/y to 1.6mn persons. This growth was mainly driven by a 10.7% y/y increase in tourist arrivals, which accounted for 80.1% of total arrivals. Meanwhile, same-day arrivals fell by 5.4% y/y in the same period.
Visitors from Russia (+16.0% y/y) were the largest contributor to the total arrival growth, followed by Azerbaijan (+46.7% y/y, despite continued closure of the land border for leisure travel), EU (+20.5% y/y), Armenia (+7.2% y/y) and India (+33.5% y/y). On the downside, arrivals from Türkiye and Iran fell by 16.5% y/y and 8.2% y/y), respectively. Notably, most visitors traveled to Georgia via land (56.9% of total), followed by air (42.5% of total). G&T estimates that tourism revenues increased by 9.1% y/y to US$ 1.2bn in 2Q25. Overall, tourism revenues reached USD 2 billion (6.2% y/y) in 1H25, by our estimate.
G&T forecasts tourism revenues at USD 4.5bn for 2025", - the document reads.
