On March 29, the ISET Policy Institute hosted a policy presentation on the economic impact of Russian migration into Georgia since 2022. The event highlighted the unprecedented outmigration of Russian citizens in the aftermath of the start of Russia's war on Ukraine and how Georgia has become one of the main destinations for Russian migrants.
The presentation by Yaroslava Babych and Davit Keshelava from ISET Policy Institute’s research team focused on ISET Policy Institute's research summarizing the economic impacts of the migration of Russians into Georgia, with insights on associated economic risks for the country. The presentation was followed by a panel discussion featuring Mirza Gelashvili, Deputy Minister of Finance, Archil Mestvirishvili, Acting Governor of the National Bank of Georgia, and Otar Nadaraia, Chief Economist of TBC Group.
According to data, Georgia has become the 5th most popular destination in the world for Russian citizens between January and September 2022, with over 662,852 exits of Russian citizens from Russia to Georgia-controlled territories recorded in the first 9 months, or 4% of the total recorded exits from Russia. When exits from Russia to Abkhazia and Tskhinvali Region are included, Georgia jumps to first place with 5,351,169 exits from Russia to Georgia and all its territories, or 29% of the total in 2022.
The presentation also highlighted that Georgia held 3rd place in the world in the absolute number of entries by Russian citizens in July-September 2022, which caught some of the "second wave" of Russian migration into Georgia. The entries of Russian citizens to Georgia-controlled territory increased by 605% compared to the same period in 2021.
The presentation and panel discussion provided valuable insights into the economic impacts of Russian migration into Georgia, with experts exchanging views on associated economic risks for the country. The event was a crucial step in understanding the impact of the influx of Russian migrants into Georgia and identifying ways to mitigate any potential risks.