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| 12 January 2012 |
| Next Year Georgia Expects 3.5 Million Tourists
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Presentation of scheduled in Kakheti region projects to be held at the end of January
An interview with the National Tourism Agency Chief Maya Sidamonidze
- Will a hot political year affect the country's tourism business?< |
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| 04 January 2012 |
| Adjara Tourism Department`s annual report
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Tourism Department of the Adjara Region summed up the year 2011 at the briefing today. Department`s authorities say the year was very successful from the point of view of the tourist attraction, as the number of visitors to the region increased with 39%.
In 2012, t |
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| 29 December 2011 |
| GDP grows by 7.5% in Q3
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Georgia’s Gross Domestic Product (GDP) equaled 7.5 % in Q3 of 2011, according to the adjusted data of Geostat, the National Statistics Office of Georgia. In this period, GDP per capita at current prices amounted to 1 387.9 lari. The January-September real GDP g |
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| 29 December 2011 |
| Tourism: The year in review
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Looking back at the challenges in 2011, the government states that the key concern has been to advance the development of tourism infrastructure and offer visitors new products. These attempts, according to the Georgian National Tourism Agency (GNTA), have enco |
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| 27 December 2011 |
| Tourism Agency sums up annual work |
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Head of the National Agency of Tourism of Georgia, Maia Sidamonidze
delivered a summarizing report about the work of the agency in 2011 at
the meeting with the Prime Minister, Economic Minister, tour agencies
and air companies held in the Holiday Inn Hotel. Sidamonidze said the
mo |
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| 23 December 2011 |
| China allocates $ 9.3 m grant to Georgia
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Georgia will receive a $9.3 million grant from China, according to Georgia's Ministry of Finance. This grant is part of an agreement signed on economic and technical cooperation on behalf of Georgian Minister of Finance Dimitry Gvindadze and China's A |
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| 15 December 2011 |
| EBRD to invest $200m in Georgia in 2012
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The financial, agriculture and energy sectors will remain the top priority in Georgia for EBRD in 2012, according to Olivier Descamps, the Business Group Director of the European Bank for Reconstruction and Development (EBRD).
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| 05 December 2011 |
| Georgia begins construction of a new city in Samegrelo |
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Georgia will have a new large city in the future, which will be
called Lazika - Georgian president Mikheil Saakashvili announced during
his visit to Zugdidi on Sunday.
Saakashvili said the plan of new city`s construction is estimated on
the next ten years and |
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| 01 December 2011 |
| China set to invest $150 million in Georgia
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A Chinese investment group and Georgian government officials have signed a cooperation memorandum to create the Khualin international special economic zone in Tbilisi. The total amount of the investment from China exceeds $150 million.
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| 24 November 2011 |
| Monetary Policy - Down, Prices and Interest Rates - Up |
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Georgian Central bank lowered its policy rate by 25 basic points for the fourth consecutive time starting the past July as inflation pressure got milder. However, interest rates on credits as well as consumer prices on essential product are still soaring high. The Monetary Poli |
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| 24 November 2011 |
| Georgia at MIPIM Asia exhibition |
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The Georgian National Investment Agency (GNIA)
participated in MIPIM Asia, a real estate exhibition held from November
15-17 in Hong Kong.
GNIA, whose stated mission is to encourage national
and foreign inv |
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| 15 November 2011 |
| Georgia, Norway sign agreement on avoiding double taxation |
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Georgia`s finance and foreign ministers, together with Norway`s foreign minister signed an agreement on avoiding double taxation and removing taxes between Georgian and Norway.
Reportedly, the main purpose of the agreement is to assist deepening economic cooperatio |
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| 15 November 2011 |
| Georgia Ranked 39th In Terms Of Tax Payments’ Facilitation
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Georgia is on the 39th position in the “Paying taxes 2012” rating that covers 183 countries. It was released by the World Bank (WB), the International Monetary Fund (IMF) and PriceWaterhouseCooper auditing.
Georgia has improved its position by 22 notches rising to |
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| 10 November 2011 |
| Novotel Hotel Tbilisi |
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The FINANCIAL -- The EBRD is considering a senior loan to 64 Chavchavadze LLC to finance the development, construction and operation of a 4-star hotel in the capital |
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| 28 October 2011 |
| Principal exports from Georgia to Azerbaijan, Armenia and Turkey |
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| From January to September 2011 exports to Azerbaijan reached $270 mln, to Armenia $170 mln and to Turkey $162 mln. The largest amount of imports came from Turkey at $901 mln, then Ukraine at $519 mln and Azerbaijan at$443 mln. In absolute figures Georgian foreign trade turnover with Turkey |
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| 20 October 2011 |
| Georgia-Kazakh business forum to boost export |
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Transportation, food, tourism, minerals and energy
industries were the key topics at the Georgian -Kazakh business forum
held in Tbilisi on October 18 where the countries’ Chambers of Commerce
and Industries signed the cooperation memorandum.
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| 13 October 2011 |
| Georgia Holds 50th Place in Rating |
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The Forbes rating of the best countries for business put Georgia in the 50th place among 134 countries. Compared to the previous year’s rating, Georgia improved its position by 11 points. The rating cons |
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| 07 October 2011 |
| Georgia, France sign inter governmental economic agreements
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Inter governmental agreements on cooperation in transport, tourism and energy spheres were signed between Georgian and France in the president`s palace in Tbilisi in Friday.
The agreements also imply cooperation in purchasing of the equipment of the railroad in Me |
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| 06 October 2011 |
| Georgia’s International Investment Position |
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Net International Investment Position (IIP) of Georgia by the end of the second quarter of 2011 amounted to USD13.3 billion that translates into USD 1.8 billion increase on yearly base, National Bank of Georgia reported on September 30, 2011.
Of total growth, 73.6 percent |
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| 03 October 2011 |
| Annual Inflation Slows to 4.6% - Geostat |
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Year-on-year rate of inflation fell from 7.2% in August to 4.6% in September with consumer price index rising 0.6% month-on-month, the state statistics agency, Geostat, said on Monday. < |
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| 28 September 2011 |
| Tax System – Not Perfect, But Improved |
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Although not perfect, the tax and customs system has improved recently and cases of businesses being unfairly targeted have reduced, President Saakashvili said.
“For some time we’ve been too carried away with those ratings, boasting by Georgia bei |
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| 19 September 2011 |
| Account by State Tourism Department
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| The State Tourism Department has an account of the tourism development index in Georgia based on the results of the summer 2011. According to the results of the eight months of the year, the number of the visitors to Georgia has increased with 43%.
The year 2011 was also distinguished a |
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| 19 September 2011 |
| EBRD survey shows improvement in Georgia
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European Bank of Reconstruction and Development has published new survey about Georgia. The survey of living conditions in the under-developed countries aims to clarify how the transitional period is reflected on political reforms, economics and the attitude of the population towards fu |
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| 15 September 2011 |
| Despite the promised privileges the investors seem reluctant to invest
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Tourism in Georgia is considered to be one of the leading branches and the authorities pin special hopes on the Black Sea strip. In autumn of 2010 in Kobuleti (a resort zone in Western Georgia) 11.3 ha of pine grove land was allocated for building hotels and the investors were given pri |
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| 15 September 2011 |
| Georgian Investment Journal |
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Investments inflow in the second quarter of this year accounted for USD 203 million that means 2.4% of reduction compared to the similar period of 2010, and exceeds the data of the previous quarter of this year by 17.3%. Economic analysts doubt that Georgian investment inflow |
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| 14 September 2011 |
| Another international airport to be opened in Georgia
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Another international airport is going to be opened in Georgia. As reported, a new contemporary airport will be brought into operation in the Black Sea town Poti in about 18 months.
Foundation of the building was laid on Wednesday. Georgia`s president laid a symbol |
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| 12 September 2011 |
| Hotel Intourist Palace Hosted Record Number of Guests this Summer |
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Hotel Intourist Palace has hosted an exceptionally high number of guests this summer.
According to Rusa Shamugia, the Marketing Manager of Hotel Intourist Palace, the increased number of hotel clients is caused by the very rapid development of Batumi |
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| 08 September 2011 |
| HSBC withdraws from Georgia
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HSBC, one of the largest banking and financial services organizations in the world, after three years of operation on Georgia’s banking market, has decided to leave the country.
According to Guy Lewis, chief exec |
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| 07 September 2011 |
| Inflation Rate in Georgia, August 2011(Over July 2011) |
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| In August 2011 the monthly inflation rate in Georgia amounted to 1.1 percent. The following table shows percentage changes in prices for the commodity groups of the consumer basket as well as the relevant contributions to the overall inflation rate.
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| 31 August 2011 |
| Inflation Ups And Downs |
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4% drop in inflation pressure in June enabled Georgian Central Bank
to make its monetary policy more easygoing and forecast the inflation
rate decrease below the 8% target level at the beginning of next year.
Economic analysts thumb up the central bank’s decision though they find
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| 30 August 2011 |
| Vera Kobalia – We Expect 3 Million Tourists This Year
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| Georgia expects 3 million tourists this year, Minister of Economy and Sustainable Development Vera Kobalia said in an interview with La Tribune . She says that economic growth in Georgia reached 6,5% this year, mainly caused by tourism development.
“We expect 3 million tourists this ye |
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| 23 August 2011 |
| Tbilisi to have another five-star hotel |
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| Tbilisi will have yet another five-star hotel soon. An Arabian Company
Dabi Group Georgia has purchased the building on the Rustaveli Avenue,
former `Imeli` office, which will be reconstructed into a new five-star
hotel on Tbilisi`s central avenue.
The representative of the invest |
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| 22 August 2011 |
| Anaklia turns into a modern resort city |
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| Anaklia has turned from an ordinary seaside village settlement into a modern resort city with new boulevard, yacht0clubs, hotels and the longest in Europe - 550 km long walking path, which connects Anaklia with another seaside settlement - Ganmukhuri.
The city, which is in a few meters |
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| 17 August 2011 |
| Georgian wine to be sold in duty free zones of foreign airports |
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Along with famous brands, Georgian products have appeared in duty free zones of different airport around the world. Although the strict control regulating the sale of alcoholic beverages will not spread on the Georgian wine for few years.
The Ataturk airport out |
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| 10 August 2011 |
| Number of people employed in Georgia`s tourism increases |
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Chairman of National Tourism Agency held a briefing at the Ministry
of Economy and Sustainable Development. Maia Sidamonidze gave a report
about the tendencies of tourism development, employment in the sector,
development dynamics and future plans.
Maia Sidamo |
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| 04 August 2011 |
| PM Hails Further Drop in Inflation |
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Georgian Prime Minister Nika Gilauri hailed decrease in annual inflation
to 8.5% in July and said that according to his forecasts, inflationary
pressure would further go down in the following months.
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| 01 August 2011 |
| CONSTRUCTION OF 675 OBJECTS WAS COMPLETED IN JANUARY-JUNE |
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According to “Sakstat”,
construction works were completed through the first half of the year on 675
objects, totaling to 366,649 square m. Of total, biggest share (38.2%) had
residential construction. Next come trade objects (25%), trade-related
buildings and warehouses (7.1%), admini |
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| 01 August 2011 |
| 5 FINISHED AND 7 CURRENT PROJECTS |
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Giorgi Kananashvili, director
of management company Dexus, declares that investment volume, which should be
made in resume of Center Point’s suspended projects, totals to 15 million lari.
At that, 2.5 million lari has been spent on White House, located on Moscow
Avenue, 2.2 million la |
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| 01 August 2011 |
| Two Hotels Luxury Class Are Planned To Build In Batumi |
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Tbilisi. July 29
(Prime-News) – Two hotels Luxury Class are planned to build in Batumi These
hotels are "Conrad" and "Carlton Ritz". According to the
Minister of Finance and Economy of Adjara, negotiations are currently being
hel |
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