At the official presentation ceremony of the guidebook, Tourism Creates Business: Investing in Georgia, organized as part of the World Tourism Day event, Georgia’s First Vice Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili, highlighted the favourable business and investment climate in the country.

Levan Davitashvili emphasized that Georgia is among the world’s most liberal economies, with a strong focus on open markets and economic freedom. He noted Georgia’s reliance on foreign direct investment and the country’s free trade agreements covering nearly one-third of the world’s population, including China and the European Union.

“We have a free trade agreement with China and are also a candidate country for the European Union, with the DCFTA — a comprehensive trade agreement with the EU. Additionally, we have trade agreements with the countries of the former Soviet Union, Turkey, and several other nations,” stated Levan Davitashvili.

Discussing Georgia’s investment climate and overall economic development, the First Vice Prime Minister highlighted the success of the post-pandemic recovery. He noted that Georgia’s economic growth rate was 9.7% in recent years and is expected to maintain this level in 2024, based on data from the first seven months. He further emphasized that the country’s macroeconomic indicators, including inflation, remain stable.

“When considering investments, potential investors should be well informed about the country’s economic conditions. We apply a conservative approach to macroeconomic policy, with various control mechanisms in place. We were the first country to bring inflation under control post-pandemic, and our current inflation rate is well within target levels. Moreover, our budget deficit is low, around 2%. Despite the challenging geopolitical environment, Georgia’s economy has demonstrated considerable resilience against economic shocks,” Davitashvili stated.

Additionally, he introduced the government’s initiatives to attract investments in the private sector and spoke about Georgia’s high international rankings for business and investment climate.