September 27, 2024 – Galt & Taggart Hosts Conference in Batumi on Economic and Sectoral Trends in Adjara
On September 27, 2024, Galt & Taggart held an event in Batumi, where representatives of the business sector were introduced to the current economic and sectoral trends in the Adjara region.
Adjara is the fastest-growing regional economy in Georgia. After Tbilisi, Batumi holds the second-largest share in the country’s economy, accounting for 10%. The region’s economy is primarily driven by tourism and related sectors. According to Galt & Taggart, continued growth in tourist flows, improvements in infrastructure, and the unlocking of potential across various industries will support sustained high growth in the coming years. Unlike the nationwide trend of population decline, Adjara is experiencing population growth, improved employment dynamics, and rising purchasing power—factors that enhance the region’s attractiveness for business operations.
“Regional development is a key priority for Bank of Georgia. That’s why it’s important for us to see the number of businesses we support grow across the country. With the tourism season now over, we want to share our expert insights with the business sector—looking back at recent developments and highlighting the prospects we see, both in Adjara’s economy overall and in specific sectors such as hospitality and real estate. We are pleased that the region continues to attract both local and international tourists. In addition, real estate and tourism show particularly noteworthy trends, as identified in Galt & Taggart’s in-depth research. The goal of this event is to provide businesses operating in Adjara with valuable information that will help make the region even more attractive for launching and expanding commercial activity,” said Zurab Kokosadze, Deputy CEO of Bank of Georgia.
For more information, please visit: www.gt.ge
