In August 2023, Georgia’s tourism income stood at $550 million, as reported by the investment bank Galt & Taggart. Compared to the previous year, there was a modest 5% increase in revenue for that month.
“According to our estimation, in August 2023, revenues from tourism increased by 5.2% annually and amounted to 550 million USD. In total, we estimate tourism revenues to reach $2.9 billion in the first 8 months of 2023, an annual increase of +34.7%,” – Galt & Taggart said in a review.
It’s worth noting that since 2023, the National Tourism Administration has reduced the transparency of statistics. Previously, monthly visitor numbers were published, but now only quarterly figures are available. Consequently, there is currently no information on the precise number of visitors Georgia received during the tourist season. Additionally, the origin countries of visitors in the past month remain unknown.
Regarding the methodology, it’s important to highlight that the tourism statistics exclude migrants who have relocated to the country, a demographic that has seen a significant surge in the last two years. This approach to accounting for tourism aligns with the guidelines set forth by the UNWTO, or the World Tourism Organization.