Page 57 - GEORptNov21

“Big Service Ltd was given land and buildings located on it worth [Georgian lari] GEL68.23mn ($23mn) for GEL1 in 2019 with investment commitments to set up an electric car manufacturing factory within no more than two years (no later than 27.05.2021) and then produce at least 5,000 units of electric cars within no more than 18 months,” Agenda.ge recapped.
In addition, the company was obliged to employ at least 300 people for at least 18 months within a period of not more than one year after fulfilling the obligation to launch the factory.
9.1.5 Tourism sector news
Georgia’s 9M tourism revenues at one-third of those in 2019
Georgian tourism at 50% of 2019 levels
EU states reportedly discussing suspending visa-free travel with Georgia
In September, Georgia hosted 226,662 international visitors, which is 4.5 times more y/y but 71.1% less compared to the same month in 2019, according to the statistics of the National Tourism Administration.
For the first nine months of the year, the number of international visitors hosted by Georgia decreased by 13.2% y/y and by 80.1% compared to the same 9M-period in 2019, to nearly 1.19mn. For comparison, 5.98mn international visitors arrived in Georgia during the first nine months of 2019.
According to the reports of the National Bank of Georgia quoted by Business Media, last month the country's economy received $161.9mn from international tourism, and in January-September 2021, the total tourism revenue amounted to $865.8mn, which is 60% more than the 2020 results – yet only one third of the $2.6bn revenues reported in the 9M-period of 2019.
According to the statistics of the National Tourism Administration, more than half of the visitors in September – 131,594 – arrived by air, which is related to the activated air traffic. According to specific countries, the Russian Federation is in the first place in the ranking, followed by Turkey and Ukraine.
Tourism in Georgia recovered to just over half of its 2019 levels, while imports and exports remained steady, brokerage Galt & Taggart reports. The recovery in tourism strengthened in September 2021, with tourist arrivals (overnight stays) recovering to 39% of the September 2019 level, up from an average 33% recovery during June-August 2021. Notably, tourism revenues recovered faster than arrivals in September like in previous months, hitting 50.8% of September 2019 level, as in visitor mix tourists are prevailing, spending more than same-day arrivals (note that since recovery started from April 2021, tourists numbers recovered at an average 30% of 2019 level, while in the same period same-day arrivals accounted for only 5% of the 2019 level and therefore revenues are recovering faster). That said, 226,700 international visitors (up 348.8% y/y, tourists and same-day arrivals combined) travelled to Georgia in September 2021, with most visitors from Russia (14.6% of total), followed by Turkey (14.2% of total), and Ukraine (10.1% of total). Most visitors traveled to Georgia via land (58.1% of total), followed by air (40.8% of total). Overall, in 9M21, international arrivals stood at 1.2mn persons (-13.2% y/y, 19.9% of 2019 level) and tourism revenues reached $865.8mn (+73.5% y/y, 33.5% of 2019 level).
Brussels-based online news outlet EUobserver reported on September 29 that it has seen an internal EU document about dissatisfaction on unlawful residency and unfounded asylum claims of citizens of Georgia, Ukraine, Moldova as well as of some western Balkan states.
Germany reportedly led the objections in reference to Georgia, Moldova and Ukraine. The document seen by the Brussels-based outlet pointed to a 51% increase in Georgian asylum claims over the past three months, compared to
57 GEORGIA Country Report November 2021 www.intellinews.com