ISET Economist Blog

10 July 2023

Elene Tskhomelidze

Attracting high spending international tourists to Georgia

In 2022, Georgia’s tourism sector still heavily relied on visitors from neighboring countries. The combined share of Russia, Turkey, Armenia, and Azerbaijan accounted for 62% of the total international visitors' trips. It is important to note that these countries had relatively low levels of expenditure per visit.

05 June 2023

Elene Kvanchilashvili

RIA accountability

The majority of those of us who work in the media, and I am probably not being biased if I say particularly those of us who work in the business media, were eagerly awaiting the implementation of the Regulatory Impact Assessment (RIA) mechanism in our country.

31 May 2023

Ana Terashvili

Water resource management reform: current situation and expectations

In Georgia, a new law on “Water Resources Management" has been drafted, which involves significant and complex legislative changes. The country will have a new, unified system of managing water resources based on international approaches after the proposed law is implemented, satisfying the requirements set forth in the Association Agreement (AA) concluded with the European Union (EU).

24 May 2023

George Papava

Troubled businesses: navigating the insolvency maze

There will always be “winners” and “losers” in a market economy, which entails constant competition between companies for access to limited resources. The loser in this case is a company that is unable to pay its financial obligations on time and thus becomes insolvent.

19 April 2023

Tamar Sulukhia, Elene Tskhomelidze, Mery Julakidze, Giorgi Papava

Georgia’s European future and prospects for your well-being

Under the Georgian Constitution, the country's strategic objective is to join the European Union. The vast majority of citizens agree with and support this objective. The European future is not only the country's historical strategic choice but also the hope for the prosperity and well-being of the country's population and the promise of a better future for future generations.

24 January 2023

Mariam Titvinidze, Nutsa Shubashvili, Mery Julakidze, Levan Tevdoradze

What are the outcomes of the new insolvency law?

Georgia’s new insolvency law – the Law of Georgia on rehabilitation and the collective satisfaction of creditors’ claims – became effective on 1 April 2021. Under which, if a business operating in Georgia has reached a low ebb and is no longer able to meet its financial obligations, it has the opportunity to regulate relations with creditors based on new legislative instruments – effectively, it is able to rehabilitate and return to the market in a viable manner, or, if necessary, it might declare bankruptcy and exit the market.

ISET Economist Blog

A blog about economics in the South Caucasus financed within the institutional grant by the Government of Sweden.