There were 16 licensed insurance companies working in Georgia by the end of the 2nd quarter of 2017. In total, they attracted insurance bonuses in amount of 247,382,801 GEL in 18 different types of insurance (including  58% of the full bonus on the first three ones). According to insurance types, medical insurance has 50% of the market share (81% of the attracted bonus was on the three leading types of insurance). In the first two quarters of 2017, insurance companies reimbursed 116,297,224 GEL.

Read More »

Based on the data of September 1, 2017, there are 664,057 registered business entities in Georgia, out of which only 173,629 are active. The economic unit is active if it meets one of the following criterias: Turnover > 0 (VAT, income and other declarations), Number of Employees > 0 (VAT, income and other declarations), Salary or number of employees> 0 (Salary announcements), Has a profit or loss (profit declaration), Pays any tax except for property taxes, The table below shows the business entity destribution in Georgia by regions.

Read More »

During last two decades, Georgia has undergone though a remarkable period of economic transformation led by major institutional and structural reforms. The reforms succeeded in building smart and low regulations, business friendly tax system, private sector driven and corruptionfree country. With the achieved success Government of Georgia initiated new economic program – “Four Point Reform Plan”. The Plan embarks on four strategic directions: 1. Education Reform - supporting skills development through education reform targeted at bridging the gap between skills demand and supply.

Read More »

Economic growth of Georgia in 2016 was 2.7 percent, in which the main contributor (3.5%) was investment. Growth was positively affected by the consumption, but its contribution was 1.1%. Real consumption was increased by only 1.2 percent compared to the last year, due to increased costs of debt service given high dollarization level in the country. Net export influenced to the economic growth negatively (-0.9%), that can be explained by external demand shock. Economy has started recovery from 2017.

Read More »

The World Economic Forum has, for the past 11 years, engaged leaders in travel and tourism to carry out an indepth analysis of the Travel and Tourism competitiveness of 136 economies across the world. The Travel and Tourism Competitiveness Index measures “the set of factors and policies that enable the sustainable development of the travel and tourism sector, which in turn, contributes to the development and competitiveness of a country”. According to the Travel and Tourism Competitiveness report, Georgia has improved its ranking in 2017...

Read More »

The average monthly salary in Georgia was 940 GEL (about $379.34/€324.26*) in 2016, shows the latest data published by the National Statistics Office of Georgia (Geostat). Last year, Georgia’s top three highest-paying occupations were in the fields of financial intermediation (1,834.9 GEL), public administration (1,326.8 GEL) and construction 1,283.3 GEL. Last year the average monthly salary per other sectors was:...Meanwhile, men earned almost 386 GEL more than women each month, the figures show.

Read More »

In 2016, the number of active workers in Georgia was 1,998,325, out of which 1,763,265 were employed, and the number of unemployed was 235,060. 42.3% were employed by employers, 57.3% - self-employed (0.4% status is unclear). Unemployment rate was 11.8% in 2016. The employment structure according to the status is as follows:... Status data by sex is as follows (thousand people):... Data by regions is as follows (thousand people):...In 2016, 262,200 people worked in the state sector (14.9%) and 1,501,100 people (85.1%) were employed in the non-state sector.

Read More »

The EU and Georgia signed an Association Agreement on 27 June 2014. It has entered into force since 1 July 2016. The agreement introduces a preferential trade regime – the Deep and Comprehensive Free Trade Area (DCFTA). This regime increases market access between the EU and Georgia based on having better-matched regulations. In …

Read More »

The table below shows the business entity destribution in Georgia by ownership type. Based on the data of September 1, 2017, there are 664,057 registered business entities in Georgia, out of which only 173,629 are active. The economic unit is active if it meets one of the following criterias: Turnover …

Read More »

Global Competitiveness Index of World Economic Forum defines the competition environment of 138 countries and the driving sources of their productivity and well-being. Index is prepared on the basis of 3 index (and 12 indicators) analysis. They are: Key factors: Institutions, infrastructure, macroeconomic environment, healthcase and primary education Efficiency enhancing …

Read More »