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.
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.