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ISET Economist Blog

A blog about economics in the South Caucasus.
Dec
04

Your Guest Is My Guest, or Why Tourism Is Not a Zero-Sum Game

The South Caucasus is divided by high mountain ranges, often impassable political borders, and ethnic conflict zones. In addition to three independent states, the region also includes three unrecognized territories. Nakhichevan is separated from Azerbaijan’s mainland by Armenia’s Syunik region. Armenia’s border with Turkey and Azerbaijan, on the other hand, is sealed for political reasons. Though trampled by politics, the economic arguments for greater regional integration in the South Caucasus are truly powerful. For one thing, thanks to its strategic l...
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Simon Appleby
The Vine and Wine Foundation of Armenia recently held its inaugural International Wine Conference in Yerevan, backed by GIZ. Guest... Read More
Saturday, 09 December 2017 7:07 AM
Simon Appleby
An interesting market for Georgia, oddly enough, is the Armenian Diaspora market (around 8 million people). Many diaspora Armenian... Read More
Saturday, 09 December 2017 7:07 AM
Eric Livny
Sounds really interesting, Simon! Ive recently interviewed Ia Tabagari, head of the Georgian kvevri (or natural) wine association,... Read More
Saturday, 09 December 2017 5:05 PM
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Jun
12

Wanna Get Rich? Make Batumi Your “Second Home”!

With 6.3 million tourists visiting the country in 2016, Georgia has become a popular tourist destination. In May, the number of international visitors (those who stayed in the country 24 hours or more) increased annually by 19% (compared to the same month in the previous year). While Tbilisi Airport is the main border-crossing point, in May, Batumi Airport overshot Kutaisi Airport, famous for its low costs flights, and experienced a 20% annual increase in the number of arrivals. The concert of legendary musical band “Aerosmith,” which took place near Bat...
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Jun
10

Is Less More When Hosting International Events in Your Home Country?

In just a couple of weeks Baku is going to host the second Formula One Grand Prix in its history. Being in love with motor races and inspired by the fact that for the first time in my life I will attend such an important race (and the Land of Fire); I tried to explore the economic impact of hosting expensive international events for one’s country. In 2017, the Formula One Championship will take place in 20 countries. Nineteen of these countries are either in the top 15 by the level of GDP, or are (net) oil and gas exporters. The only exception here is Hu...
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Dec
13

Is Georgia Heading towards an Oversupply of Hotels?

Citizens of Georgia’s capital recently witnessed the luxurious Biltmore Hotel Tbilisi grand opening. A $140 million investment by the Dhabi Group supplied the market with 214 luxury rooms and suits.  The $2 million opening, huge building and central location (right on Rustaveli Avenue) made the appearance of this hotel on the market very noticeable.  However, with much less lavish ceremonies, in total 37 hotels were opened in Georgia just this year, as reported by the Georgian National Tourism Agency (GNTA), which amounts to an additional 1,472...
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Irakli Shalikashvili
Very interesting blog post about hospitality and supply of hotel rooms in Georgia. It is quite significant for Georgian economy th... Read More
Tuesday, 13 December 2016 2:02 PM
Eric Livny
By moving in different directions you have in mind greater local possibilities to travel (hiking, biking, jeeps, etc.)? I very mu... Read More
Tuesday, 13 December 2016 4:04 PM
Guest — Mike
https://travelcar.am/rent-a-car-in-yerevan
Tuesday, 21 March 2017 12:12 PM
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