Page 55 - GEORptJul22

9.1.5 Tourism sector news
Tourism revenues in Georgia roughly half of pre-crisis level in 12 months to March
Georgia’s revenue from tourism reached $174.5mn in March, 71.3% of the figure recorded in March 2019, before the pandemic, the National Tourism Administration announced.
Interestingly, the recovery in terms of revenues was achieved in March despite a proportionally smaller number of travellers: only one-third of the travellers of March 2019. Including the tourism and non-tourism visitors, the total number of foreigners travelling in Georgia in March 2022 was only 211,484 - roughly a third of the 619,325 in March 2019, according to data from the Tourism Administration.
Revenues from travel increased by 490.6% compared to March 2021.
For the whole first quarter of the year, the revenues from travel reached $393.7 68.1% of the figure reported in Q1, 2019. Compared to January-March 2021, travel revenue increased by 635.2%.
For the 12-month period to March 2022, tourism revenues in Georgia reached $1.59bn, roughly half of the pre-crisis annual level.
9.1.6 Infrastructure and construction sector news
Georgia to start Anaklia deepwater port project from scratch
Georgia’s Ministry of Economy has asked international consulting company Maritime & Transport Business Solutions (MTBS) to update the freight forecast and business model for the Anaklia deep sea port project on the Black Sea coast. The update is expected to be completed within eight to nine weeks.
The government terminated its contract with the Anaklia Development Consortium (ADC) in early 2020, citing the investors’ failure to finance their intended $2.6bn project and find a strategic partner.
The government was set to start the process of selecting a new potential investor for another attempt at rolling out a project in the near future, Georgian Prime Minister Irakli Garibashvili said in March.
MTBS will also develop a new marketing strategy and select the optimal model of public-private partnership as part of the contract signed with the Anaklia Deep Sea Port Development Agency.
Construction of the deep sea port started in 2017.
Deputy Economy Minister Guram Guramishvili said that by the end of this year it would be possible to announce an expression of interest and to select a new investor for “the crucial and strategic project”.
The Anaklia port is expected to significantly increase the transit potential of
55 GEORGIA Country Report July 2022 www.intellinews.com