Georgia's IT sector revenue down in 2024- the Russian business paper Kommersant writes citing statistics published by the National Bank of Georgia.
According to the document, the IT sector's foreign revenue amounted to $688 million that is 12% or $96 million less than in the previous year.
During 2023, the external income of the Georgian IT sector amounted to USD 784 million, which was a record high income for this sector.
The boom in the IT sector between 2022-2023 is primarily related to the migration effect, as thousands of Russian, Ukrainian and Belarusian specialists moved to Georgia for temporary residence, therefore, their activities are currently considered IT services provided from Georgia.
