Special Report December 16, 2019	Days:  19 16 28 03 16

economics

MONTHLY TOURISM UPDATE (OCTOBER 2019)

PMCG

- After GDP recalculation based on 2008 system done by the National Statistic Office of Georgia, Share of non-observed economy in the total economy has increased from 8.3% to 13%, while share of non-observed part in Hotels and Restaurants sector has increased from 9.2% to 54.3%;

- According to revised GDP, since 2010 hotels and restaurants sector has increased by 369%, outperforming other sectors twofold;

- Largest share of tourist expenditures (31.5%) is spent on foods and drinks, while only 24.6% is spent on accommodation;

- In October 2019, compared to September 2019, average prices for hotels have decreased by 5.9%;

- In October 2019, compared to the same period of 2018, average prices for hotels have decreased by 5.2%;

- In the third quarter of 2019, compared to the same period of 2018, total tourist expenditure has increased by 4.1%;

- In spite the ban on the Russian flights in July of this year, in August 30% more Russians visited Georgia compared to the previous month. Compared to August, in October 43.1% less Russians have visited Georgia.