In 2016, almost 6.5 million international tourists visited Georgia, twice as many as the country’s population. Valeri Chekheria, CEO at Adjara Group Hospitality, talked to Emerging Europe about the country’s tourism potential.
The de-dollarisation strategy will open new opportunities to invest in the local currency, Archil Mestvirishvili, Deputy Governor of the National Bank of Georgia, tells Emerging Europe.
(photo: courtesy of the National Bank of Georgia)
For the economies of emerging Europe, the international economic environment appears generally positive. In 2017-2018, GDP growth in the Euro area is expected to hover at around 1.7 per cent. The international financial markets have stabilised and the current economic mood is improving. Because of the global recovery, the US Fed is expected to increase interest rates further in 2017, while oil prices are likely to rise. In the EU, disbursements from the payments’ cycle of the European Structural and Investment Funds are only just beginning, indicating higher co-financed investments in the Central and Eastern European EU member states (EU-CEE) from this year onwards.
Georgia is a beautiful country, blessed with a favourable location at the crossroads between Western Asia and Eastern Europe. Bordering Armenia, Azerbaijan, Russia and Turkey and with access to the sea, Georgia has good transportation links with the entire region and beyond, and it enjoys a free trade agreement with Turkey and the CIS countries as well as an Association Agreement with the EU. Continue reading Georgia on My Mind – Where Beauty Meets Business
The global economic environment continues to be challenging. The ‘wounds’ inflicted by the global financial crisis of 2008 have not yet healed completely and world economic growth remains rather subdued. This particularly applies to the advanced countries and especially to the Euro Zone, which is the most important trading partner for the Eastern European countries. Continue reading Are Labour Shortages Driving Economic Growth?
The World Bank expects Georgia’s economic growth to be at an average rate of 5.5 per cent, per year, over the medium term, based on greater policy certainty, improved market access and strong structural reform implementation. Irakli Kilauridze, Managing Director, Colliers Georgia, and Sulkhan Khabadze, Director, British Georgian Chamber of Commerce in London discuss the business climate and investment opportunities in Georgia.
CEE’s presence at MIPIM has evolved over the years, says Béatrice Gravier, Commercial Director, MIPIM & MAPIC Markets, in a video interview with Emerging Europe.
The EU has been consistently very weak in dealing with post-Soviet countries (except the Baltic states) compared with the former Communist countries of Central Europe and Southeastern Europe. The latter knew exactly where they wanted to be after 1989: part of the Euro-Atlantic constellation. Joining the EU and NATO was their goal. It was about coming home to a reunited Europe. Continue reading The EU’s Benign Neglect Of Eastern Europe
Almost every single economy in emerging Europe implemented at least one reform in the last year to improve their business environment. In consequence, as many as 16 economies in the region are featured in the Top 50 of the World Bank’s Doing Business 2016 report. Emerging Europe speaks to Rita Ramalho, Manager of the World Bank–IFC Doing Business, who has compiled a resume about the emerging Europe region especially for us, about how the reforms introduced have helped make doing business easier across the region. Continue reading World Bank’s Doing Business Report 2016 Resume For Emerging Europe
France may be Europe’s largest wine producer, but it is Georgia where wine was born.
It is said that wine production started about 7,000 or even 8,000 years ago and archeological remains found in the area suggest that as early as 4000 BC grape juice was placed in underground clay jars or qvevri to ferment during the winter. Last August, 43 ancient qvevries dated back to the 11-13th centuries were discovered by archaeologists at Khikhani Fortress, Adjara, Western Georgia. Continue reading Georgian and Moldovan Wines: Discovering the Old Tradition Anew