Another achievement of the Georgian football team is the economic boost in the short as well as in the long term. Importantly, the success is assisted by the 12th player – tens of thousands of Georgian football fans supporting the national team in Germany. This is also evident from a June hike in expenditures of Georgian residents using TBC cards, almost doubling the total outbound tourism which normally stands for up to 20% of tourism inflows in Georgia, while, when adjusted for the inflows’ import component, the ratio increases up to 35-40% - a very productive investment!
At the same time, what does this quite material currency outflow mean for the GEL in the short term? Well, the effect is expected to turn GEL-positive soon. How soon? We bet after the final of the championship on July 14, -TBC Capital weekly review reads.
