Political unrest in Iran has continued since December 2025, with international reports indicating that several hundred people have been killed and more than 10,000 demonstrators detained. Analysts warn that the most significant global consequence of the crisis could emerge in energy markets, particularly if Tehran were to restrict access to the Strait of Hormuz, a strategic chokepoint through which up to one-fifth of the world’s oil supply is transported.
Questions have been raised about the potential spillover effects on Georgia’s economy. Any sharp increase in global oil prices would inevitably affect Georgia through higher energy costs. However, the country’s direct economic exposure to Iran remains relatively limited.
Tourism is one of the few sectors where Georgia receives measurable income from Iran. Data for the first nine months of 2025 shoe that Iran remained among Georgia’s top 15 source countries for visitors but its contribution to overall tourism revenue was modest. Between January and September 2025, Georgia recorded 96,305 visits from Iranian travelers, a decline of 20% compared to the same period a year earlier.
During this period, Iranian visitors spent close to USD 100 million in Georgia, accounting for approximately 2.7% of total tourism revenues. By comparison, spending by Iranian tourists exceeded USD 151 million in 2024.
Overall, while developments in Iran pose broader risks to global energy markets, current data suggest that Georgia’s direct economic exposure, particularly through tourism, remains limited.
