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ISET Economist Blog

A blog about economics in the South Caucasus financed within the institutional grant by the Government of Sweden.
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O Thou happy Georgia!
Recently, I attended a show by the famous Erisioni dancing group, which was performing in Georgia for the first time after two years of constant traveling abroad. The Georgian dancers in traditional costumes were sensational, but as an economist, a minor incident caught my attention nearly as much as the Erisioni ensemble.
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Jury Trials: A Step Forward
A promising development, jury trials might help reduce the perception of a lack of judiciary independence in Georgia. A key aspect of well-working jury trials is a sufficiently large jury size.
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Khevsureti Fact of the Day
A fascinating mountain region at the border to Chechnya, Khevsureti is quite isolated. According to a 2006 report by the Regional Environmental Centre for the Caucasus, annual household incomes in the Shatili district of Khevsureti are: 70-80 kg of melted butter, half of which is family consumed and half sold. Income is 175 – 200 Euro.
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5 Million Tourists in Georgia by 2015 - a Myth or Nightmarish Reality?
Judging by the number of foreigners entering Georgia since 2004, tourism expanded at a breathtaking average pace of 32% a year, nearly doubling every three years. A simple extrapolation suggests that in four more years, by 2015, Georgia may be receiving more than 5mln tourists per year.
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Sorry, where is the contemporary art museum?
According to Ivanishvili, who made his $5.5 billion fortune in the Russian banking and metals industries, such headline-grabbing purchases were part of a calculated business strategy -- opening a world-class art museum in the Georgian capital, Tbilisi, that can do battle with New York City’s Solomon R. Guggenheim museum and other prominent modern art centers.
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