Page 50 - GEORptFeb21

only be allowed to receive customers on weekdays.
Turnava explained that an increasing number of people were getting vaccinated against coronavirus around the world, including in countries important to Georgia’s tourism industry such as Israel, Persian Gulf nations and European Union members states.
“Next week we will finalise how to ease the entry rules for visitors from different countries," Turnava said.
She added that she expected that in the near future, during the spring season, Georgia would be able to safely host a larger number of tourists.
Turnava said that a meeting with tour operators and travel companies would take place next week for joint discussions on how to resume the international flights.
9.1.4 ​Tourism sector news
Georgia loses $700mn in tourism revenues in Aug-Sep alone
Foreign visitors in Georgia spent only $15.6mn in September, some 95% less than in the same month last year, according to a report released by the National Bank of Georgia (NBG).
Across August and September, Georgia's tourism revenue shrunk by $700mn compared to the same period of last year.
The decline in tourism revenues in September amounted to $303mn, on top of the $397mn drop in August. The central bank attempted to maintain balance in the foreign exchange market by selling FX from reserves it built up to be robust, but it is hard to offset such a deep drop in inflows.
In 2019, Georgia received a record number of visits from international travellers, some 9.36mn, of which 5mn visits were tourists. The tourists spent more than $3bn in the country. Georgia expects to receive $1.5bn in external financing this year, part of which will be used by the central bank to try to maintain a satisfactory nominal exchange rate.
A total of 50,499 international visitors crossed into Georgia in September.
The number was 94% down year on year.
A very small number of this year's international visitors in September were classified as tourists.
In September, the largest number of visitors, namely 18,540, came to Georgia from Turkey. On an annual comparison, the number of Turkish visitors dropped by 80%.
9.1.5 ​Infrastructure and construction sector news
Georgian developer Blox to build shopping mall in Zugdidi
Georgian developer Blox is to invest $6mn in developing the first shopping mall in Zugdidi, Georgia.
Real estate consultancy firm Cushman & Wakefield was recently assigned to manage the leasing campaign for what will be the first such retail complex built according to international standards in Samegrelo-Zemo Svaneti region. According to the firm, the construction process would start this month with a finish envisaged by the end of 2021. The total area of the multifunctional shopping center is to be 15,000 square metres. Blox said the shopping centre would employ locals in an effort that would contribute to the region's economic development.
"Cushman & Wakefield was recently assigned to manage the leasing campaign for the first modern shopping centre in Zugdidi. The project is set to introduce the first contemporary, full-service shopping centre in Zugdidi, combining fashion retail, a hypermarket, F&B units, and other stores under one roof. Negotiations are currently under way with major brand operators with an
50​ GEORGIA Country Report​ February 2021 ​ ​www.intellinews.com