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ISET Economist Blog

A blog about economics in the South Caucasus.
Sep
05

Kazbegi Rooms: with a View to Improvement of Regional Development Policies

When planning a debate about the impact of the new Rooms hotel on the local community in Kazbegi we expected it to be a mixed bag. A colleague who visited Kazbegi Rooms on a private reconnaissance mission told us how much he enjoyed his stay, but added: “for some reason, the relationship between the hotel and the villagers is best described as complex”. As economists, we assumed that Rooms would be a major employer of locals and so the only issue could be competition for tourists between the hotel and the local bed & breakfast providers. And as is of...
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Guest — AP
Great piece!
Friday, 05 September 2014 3:03 PM
Guest — Hans Gutbrod
great piece, Eric. Hopefully lessons will be learned...
Friday, 05 September 2014 4:04 PM
Guest — William Dunbar
Nice piece, but Kazbegi is on the Tergi (Terek), not the Aragvi
Friday, 05 September 2014 5:05 PM
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Nov
08

Travel and Tourism to Georgia: Making Sense of Definitions and Numbers

Travel and Tourism is one of the largest and fastest-growing service industries globally. According to the World Travel and Tourism Council (WTTC), the industry’s direct contribution to World GDP in 2012 was US$ 2.1 trillion (2012 prices) and it supported 101 million jobs. Taking account of its combined direct and indirect impacts, WTTC assesses Travel & Tourism’s total economic contribution at 9% of World GDP in 2012, 1 in 11 jobs, 5% of total economy investment and 5% of world exports (Economic Impact of Travel and Tourism 2013, Annual Update, WTTC...
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Guest — RaTi Kochlamazashvili
Hello,When you're saying that the share of tourism industry in the World GDP is US$ 2.1 trillion (nominal, 2012 prices) and suppor... Read More
Monday, 18 November 2013 3:03 PM
Guest — Giorgi Bregadze
Hello, Thank you for your remark. Please pay attention that here we are talking about "direct" contribution not "total". Source:... Read More
Friday, 22 November 2013 6:06 PM
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Jul
15

The "Wizz Air Effect" or how Georgia Became Part of the Global Economy

On Monday evening I am taking the express train from Tbilisi to Samtredia with my wife and two kids (business class, 120GEL). We plan to stay overnight in a little family hotel (40GEL), and at 6.30am we’ll board the Wizz Air flight to Katowice, Poland, at the cost €40 a person and €35 per suitcase (one way). Seat reservations, luggage, train and guesthouse included, the roundtrip to Poland will cost my family around €700 compared to €1,500-2,000 using any other, conventional option. A real bargain! (even if we ignore the fact that my wife’s family is act...
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Guest — Mathias
I am curious to hear about the Kutaisi airport experience. Kutaisi is operated by a government owned company which still hasn't ma... Read More
Monday, 15 July 2013 10:10 AM
Guest — Eric Livny
Mathias, thanks for raising these very important questions. I tried to look up the TAV concession agreement but so far was not suc... Read More
Monday, 15 July 2013 12:12 PM
Guest — Daniel
The Kutaisi Airport is somewhat a child of the old, pre-2012 government. Saakashvili wanted to scatter airports around the country... Read More
Tuesday, 12 November 2013 5:05 AM
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Apr
23

Jobless Growth in Georgia

There is no arguing that during the ten years since the Rose Revolution, the Georgian economy registered an impressive growth performance, averaging 6.6% per annum. Summing up Georgia’s post-2004 growth experience, a recent ISET-PI study (Babych and Fuenfzig (2012)), finds it “remarkable not only in light of the 5.3 percent average growth rate in the 1995-2002 period, but also considering that the average GDP growth rate for European and Central Asian developing countries was about 5.1 percent in the period between 2003-2010.” Yet behind the gliste...
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Guest — test
test
Tuesday, 23 April 2013 8:08 PM
Guest — Eric
test 5
Tuesday, 23 April 2013 9:09 PM
Guest — M
What is the evidence for the alleged skill mismatch? When me and Yasya were working on the growth diagnostics study we were lookin... Read More
Thursday, 25 April 2013 3:03 PM
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