25.02.2012. Before heading off on adventure, prospective travelers typically search the web for the top things to do in a given country. Less than a decade ago, many travelers would have been impressed by Georgia's long history and rich culture but turned off by poor infrastructure and services. Georgia has since drastically improved accessibility and services, as well as the safety of attractions. Tourism is not a new concept for Georgia, rather a recollection of what it once was. During the Soviet period in late 80s, the country of then just 5.3mn (official statistics estimates current population at 4.5mn) hosted over 3mn visitors annually, including 250,000 from outside the USSR. The collapse of the Soviet Union and the ensuing unrest brought Georgia's tourism to a standstill and the number of visitors slipped to around 383,000 in 1999, with most coming from the CIS.
Since then, Georgia posted an impressive 22% CAGR in visitors over 2000-2012. The Lonely Planet travel guide recently named Georgia one of its top-10 Best Value Destinations for 2013 (details here). As the world steadily rediscovers Georgia as a real tourist destination, we believe the hospitality sector holds attractive investment opportunities. This is especially true for accommodation as the segment is already starting to see a shortage.
Since then, Georgia posted an impressive 22% CAGR in visitors over 2000-2012. The Lonely Planet travel guide recently named Georgia one of its top-10 Best Value Destinations for 2013 (details here). As the world steadily rediscovers Georgia as a real tourist destination, we believe the hospitality sector holds attractive investment opportunities. This is especially true for accommodation as the segment is already starting to see a shortage.