Georgia tourism revenue declined by 10%

Georgia tourism revenue declined by 10%

access_time2019-09-17 15:49:43

According to the National Bank of Georgia, revenues generated from tourism in August 2019 fell by 10% (46.8 million) compared to August 2018 and amounted to $ 396 million due to a travel embargo, which reduced the number of Russian tourists.

At the same time, the number of tourists increased by 5.8% in comparison with the same period of 2018.

 

The National Bank says that the reason for a decline in revenue in the tourism industry amid a growing  number of tourists is that tourists traveling by plane are more wealthy  than those traveling by car.  In July-August the country was visited mostly  by Russian tourists arrived by car  who traditionally spend less.


Apart from that, due to the Russian embargo, many places of accommodation  were forced to attract customers with low prices that  caused a decline  in tourist revenues.

The decline was also recorded in July - tourist revenue fell by 57 million in July and amounted to $ 374, 7 million.



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