IT Services in Georgia
10-Apr-2025
Georgia’s IT services sector has experienced rapid expansion, with tax revenues quadrupling between 2020 and 2023, employment increasing 5.4-fold, and turnover rising 13-fold.
Government policies and incentives, such as the International Company Status and FDI Grant Program, have played a key role in attracting foreign investment and driving the sector’s development.
Future growth will rely on strategic initiatives such as the successful implementation of GITA 2.0, enhanced IT procurement policies, and stronger collaboration with the private sector, while addressing key challenges like export capabilities and talent retention.
Reshaping Maritime Trade in the Black Sea: The Effects of the Russo-Ukrainian War
31-Mar-2025
Shortly after Russia’s full-scale invasion of Ukraine in February 2022, maritime trade flows in the Black Sea were significantly reshaped. As the war continued, developments affecting the trade in the Black Sea changed, underscoring the importance of thoroughly analyzing how the region has adapted to such disruptions. This publication builds upon the previous edition, which was released shortly after the outbreak of the war. Now, three years later, our focus shifts to examining how trade dynamics, particularly maritime trade in the Black Sea region, have evolved during this period.
Key insights include:
Upon the outbreak of the Russo-Ukrainian War, port calls in Ukraine and Russia dropped sharply, while other Black Sea countries briefly benefited from redirected trade flows. By late 2023, port calls in Ukraine had gradually recovered, supported by new shipping routes through Romania and Bulgaria. However, serious threats to commercial shipping remained.
Ukraine’s maritime exports and imports fell sharply in 2022, with a slow recovery in imports in 2023. In Russia, maritime imports declined, while exports initially increased in 2022, possibly due to sanctions being ineffective. However, as the sanctions intensified, exports also fell significantly the following year.
Employment Tracker (February, 2025)
26-Mar-2025
Our latest monthly publication, Employment Tracker, offers insights into recent developments in Georgia’s labor market.
In February 2025, the annual growth in the number of salaried employees recorded its lowest rate since 2023.
In February 2025, the total number of vacancies posted on jobs.ge decreased by 20% YoY.
Between December 2024 and February 2025, the Sales and Procurement category saw the highest number of job postings.
Quarterly Tourism Update (Tourism Indicators in 2024)
18-Mar-2025
In 2024, a total of 6.5 million international visits to Georgia were recorded, a 4.6% increase YoY, driven by a 9.0% rise in overnight trips, while same-day trips declined by 9.2%.
In 2024, visits from the EU and the UK totaled 438,414, a 3.8% increase YoY. However, the number of visits from the EU and the UK declined every quarter from Q1 of 2024 onwards.
In 2024, there were 2.2 million outbound visits made by Georgian residents, a marginal 0.1% increase YoY. Notably, outbound visits declined YoY in both Q3 and Q4 of 2024.
Foreign Assistance to Ukraine (2022-2024)
10-Mar-2025
From the beginning of the war in February 2022 up until 31 December 2024, the international community has committed a total of €399.8 billion to Ukraine, with the majority (52%) designated for financial assistance, 42% for military assistance, and 6% for humanitarian assistance.
Of the committed assistance, 67% (€267.2 billion) has already been allocated.
The US leads the way in terms of total commitments, with 96% of its pledged assistance already allocated.
