In January – April, 2018 the number of international arrivals in Georgia amounted to 2,060,264, showing an increase of 15.9% compared to the same period of previous year. Out of the total number of visits, 937,370 lasted longer than 24 hours (+27.2%). The majority of foreign travelers were Azerbaijanian (-0.5%), Armenian (+8.7%), Turkish (+23.9%), Russian (+31.2%) and Iranian (+69.3%).
A positive trend in arrivals was also observed among citizens of the European Union countries. A notable increase was registered of Estonian +83.1%, Latvian +55.8%, British +46.6%, Spanish +43.9%, Dutch +38.4% and French +24.4% travelers. Exceptional growth in arrivals was recorded of citizens of the following countries: Kuwait +111.4%, Iran +69.3%, China +58.2%, Saudi Arabia +57.9% and Israel +49.7%.
Real Estate and Hospitality are one of the fastest growing sectors of Georgian Economy. Over the recent years Georgia has seen a dynamic growth of international visitors, in 2015 the number of international visitors reached 5.9 million while the population of Georgia is 3.7 million people. Number of international tourists’ arrivals is expected to grow by 8-10% during the next five years (Source: Colliers International Georgia, Hospitality & Real Estate Sector Research 2015).
WHY INVEST IN HOSPITALITY & REAL ESTATE
Rich Natural and Cultural Resources
Distinctive among the world’s nations with its biodiversity, Georgia boasts rich natural and cultural resources and is home to more than 12,000 historical and cultural monuments, four of which are included in the list of UNESCO World Heritage Sites.
Georgia is a regional center located on the shortest route between Europe and Asia. International visitors enjoy easy access by three international airports (Tbilisi, Batumi and Kutaisi), modern railway and visa liberalization system. Georgia has Visa Free Regime with Citizens of 94 countries and additionally holders of valid multi visas or/and residence permits of 50 countries may enter and stay in Georgia for 90 days within one year period.
Continuous Increase of International Visitors
According to UNWTO (World Tourism Organization), among European countries Georgia had one of the highest growth rates of international tourist arrivals during last three years. The average annual number of international travelers from 2007 has been increasing by 23% yearly.
Various Type of Resorts
Adjara Region is famous for its black sea coasts and bright life style, while winter resorts offer an extraordinary experience including free ride and heli-skiing. With Tskaltubo medical and wellness resort Georgia is a unique wellness and SPA destination in the Region. For those who enjoy gaming, Georgia can provide a high quality gaming experience equal to world class gambling destinations without the restrictive legislation.
Considerable Potential to Develop Real Estate
Georgia offers significant potential to develop hotel & leisure, residential, retail and office premises. According to A.T. Kearney, Georgia is “an under saturated small gem” and ranks 6th in the Global Retail Development Index 2015. Additionally investors can benefit from the growing demand on “A” class office buildings and entertainment facilities.