Workforce / Human Capital in Georgia
Georgia has a relatively small labor force, with a population of around 3.7 million people, of which approximately 2.2 million are considered to be of working age. The country has a literacy rate of almost 100%, and a large number of people have higher education degrees. The country has a competitive and multi-lingual workforce, with English widely spoken in business circles.
However, despite a relatively high level of education, the country faces a brain drain, with many skilled workers emigrating to other countries for better opportunities. This has resulted in a shortage of qualified Workforce in certain sectors, particularly in the fields of science, technology, engineering, and mathematics.
In recent years, the Georgian government has been implementing various initiatives to improve the quality of education and develop the country’s human capital. These efforts have included the introduction of vocational training programs, support for entrepreneurship and innovation, and efforts to encourage more young people to study STEM subjects It seems that the Labor Market in Georgia in 2023 will have a good improvement.