• U20 Rugby Team, so called Junior Borjgalosnebi to Compete in World Youth Championship

Support the U20 Youth Rugby Team at the 2024 World Championship, where they will compete in Group B against Ireland, Australia, and Italy. The tournament will be hosted in Stellenbosch and Cape Town, South Africa, from June 29 to July 19.

Last year, South Africa also hosted the Youth World Championship, where Georgia achieved its best result so far by finishing in 8th place. Among our future group stage opponents, Ireland reached the final last year but lost to France, who secured their third consecutive championship. Australia finished in 5th place, while Italy won their elimination match, securing 11th position.

In the 2024 championship, Group A includes France, Wales, New Zealand, and Spain, while Group C features South Africa, England, Argentina, and Fiji. Group stage matches will take place on June 29, July 4, and July 9. The winners of the three groups and the best runner-up will advance to the semi-finals of the cup. The two remaining runners-up and the two best third-place teams will compete for 5th-8th places, while the other four teams will play for 9th-12th places.

The U-20 World Championship has been held since 2008. Georgia won the World Rugby U20 Trophy in 2015 and was promoted to the elite level in 2016. Georgia is the only team to have maintained its place in the 12-team elite since promotion, regularly participating in the World Championships, finishing 10th three times, 9th once, and 8th last year. The Under-20 Championship was not held from 2020-2022 due to the Covid-19 pandemic but was revived last year.

Since its inception, over 1,550 players from the under-20 championship have been promoted to their national teams, with 32 becoming world champions. TBC has been supporting rugby since 2015. This long-term partnership aims to develop rugby, implement joint social projects, and promote various age groups, domestic championships, and festivals.

#TogetherWeWin

• TBC Weekly Economic Update from Chief Economist – Impact of Euro 2024 on Georgia’s Economy and GEL

The Georgian national football team’s remarkable success has significantly enhanced the country’s visibility and economic growth. The invaluable support of the “12th player” – the fans – has been widely acknowledged. During the championship, spending by Georgian residents using TBC cards in Germany surged nearly tenfold, while overall expenses in other countries almost doubled.

Ordinarily, without the European Championship factor, the ratio of tourist outflows to inflows in Georgia is around 20%. Considering the substantial import component in tourist inflows, this ratio rises to approximately 35-40%. Despite this, it remains a productive investment.

Regarding the exchange rate of the lari, how will this factor affect it? In the near term, this type of currency outflow is expected to decrease. Our prediction is that this reduction will occur after July 14, the date of the European Championship final.

Read the full publication at the link. (ყოველკვირეული განახლება მთავარი ეკონომისტისგან | TBC Capital)