Tourism is another business sector that holds valuable potential for development.
Tourism is Georgia’s fastest-growing industry. It, along with the hospitality industry, provides some of the best small business investment opportunities in Georgia.
This country has a lot to offer to its visitors, and the activities on offer are quite varied. Georgia has a very diverse climate and there are over 100 resorts across the country.
In addition, it is famous for its numerous hot springs, and several UNESCO World Heritage Sites.
The history of Georgia is apparent upon arrival. Architectural and historical sites from every era can be found within Georgia’s mountain borders. Multiple UNESCO designations are favorite among history enthusiasts.
Most of the international hotel chains that have their Georgian branches are mostly upscale hotels. There is a lot of investment potential for mid-class hotels because there is a need for such hotels.
In 2018, the number of international arrivals reached a record high of 8.7 million people with foreign exchange income in the year’s first three quarters amounting to US$2.6 billion. The country plans to host 11 million tourists by 2025 with annual revenues reaching 6.6 billion dollars.
The expenditures of foreign visitors to Georgia have a significant effect on the balance of payments, and approximately 35.9% of Georgia’s goods and service export revenue comes from tourism. International tourists stay there for an average of 6.5 days.
The official body tasked with promoting tourism to Georgia is the Georgian National Tourism Administration (GNTA). In 2016, the GNTA participated in 21 international and domestic tourism fairs, conducted marketing campaigns on 16 target markets, and hosted 99 press and familiarization trips.