CCI is on the rise. Over the summer, the Consumer Confidence Index (CCI) oscillated around the new, higher level achieved in June. By September 2023, the CCI had increased by 1.8 index points, from -21.3 in August to -19.5 in September.

Rise in CCI. The Consumer Confidence Index experienced an increase of 3.4 index points – from -24.1 in May to -20.7 in June. This is the highest mark the CCI has reached since the pandemic struck in March 2020. The month-on-month (MoM) positive shift was mostly driven by an increase in consumer expectations about the future economic situation.

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.

No major shifts in overall May CCI. The Consumer Confidence Index (CCI) decreased marginally from -24 in April to -24.1 in May, largely maintaining the new level it had reached in April. The two sub-indices of the CCI each moved in opposite directions: the Present Situation Index declined by 1 index point, while the Expectations Index rose by 0.6 points.

Consumer confidence on the rise. The CCI has increased by 4.8 index points, from -28.8 in March to -24 in April.