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Tourism revenues expected to reach USD 4.4 BLN in 2024 -  Economy Minister

ეკონომიკის მინისტრი

Levan Davitashvili, the candidate for Minister of Economy and Sustainable Development, addressed a parliamentary committee hearing about the significance of tourism for the country’s economy, emphasizing that further strengthening the tourism sector remains a key priority. He announced that tourism revenues for 2023 reached a record-breaking USD 4.1 billion and highlighted optimistic projections, stating that tourism revenues in 2024 are expected to rise to USD 4.4 billion.

Davitashvili explained that the potential for developing over 200 resorts and resort locations has been thoroughly studied. More than 60 tourist-attractive sites, endowed with exceptional natural resources, have been identified for future resort development based on technical and economic feasibility studies.

“It is noteworthy that in 2024, Georgia will host the World Tourism Event for the first time, with the theme Tourism and Peace. Additionally, Georgia has welcomed several high-profile international events, including the World Championship in Freestyle, Snowboarding, and Freeskiing in Bakuriani, the World Freeride Tour at Tetnuldi Resort, and the Youth World Snowboarding Championship in Gudauri, among others. Numerous infrastructure projects have been implemented to develop mountain ski resorts,” the ministerial candidate stated.

Levan Davitashvili also mentioned that future efforts will focus on popularizing winter mountain ski resorts to attract both domestic and international tourists. He added that new cable cars will be constructed or installed, new skiing trails will be created, and the overall mountain skiing infrastructure will be significantly improved.

Moreover, Davitashvili discussed support for the hotel sector and planned marketing campaigns aimed at strengthening the tourism industry.

“The Georgian hotel market is set to expand with the addition of over 300 accommodation facilities, providing more than 34,700 bed spaces. Private investments in the hotel sector are projected to reach approximately one billion lari,” the ministerial candidate stated.

According to his remarks, targeted campaigns and various initiatives in collaboration with leading international media outlets are planned. These efforts will not only focus on Gulf countries but also cover new target markets such as India, China, Great Britain, and others.

“As a result of the activities to be implemented by the government, tourism revenues are expected to reach 6.4 billion dollars by 2028, and the number of international tourist visits will increase to 11 million,” Levan Davitashvili concluded.

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