AmCham president Michael Cowgill  believes that the travel  embargo will have a negative impact on Georgia in the short term - Russia imposed some restrictions for the country  but it  managed to  find a way out.

“Georgia faced  such a situation before. The business diversified its development directions, but dependence on Russia has grown  since it was easier than working with other markets. The Georgian market is quite stable, and  no collapse is expected, ”the businessman says.

The situation in the tourism industry is still a  big challenge for the country.

“Our Chamber  jointly with the government and the National Tourism Administration is searching for ways to reduce risks. In the short term, Russia’s sanctions will certainly hit Georgia’s economy, but in the long term the situation will be resolved as in previous years with regard to wine and mineral waters, ” Michael Cowgill  notes.

Cowgill  adds that the current events once again confirm that Georgia should find other markets besides Russia.