Demand for real estate in Batumi fell at the beginning of 2024. According to a report from the real estate agency Colliers Georgia, for the first quarter of 2024 there has been a decrease in interest in purchasing apartments in Batumi.…
Category: Economy
Economic and business news in Georgia and Batumi
The best accountant in Batumi
In the world of business, where every step must be calculated and every figure must be accurately recorded, the role of an accountant becomes extremely important. Especially in such a picturesque and dynamic city like Batumi.…
The lari strengthened against the dollar
The lari exchange rate strengthened against the US dollar and decreased slightly against the euro at the end of trading on February 12. The official exchange rate of the Georgian lari to the dollar strengthened by 0.19 tetri,…
China's stock market is heading downhill
Chinese securities regulator changes leadership: last chance to cheer up the stock market. China's securities regulator has replaced its head in hopes of stemming the collapse in stocks. This unexpected step, made under the watchful eye of Xi…
Mandatory licenses for taxis in Georgia
Compulsory licenses for taxis in Georgia may appear as early as July 1, 2025. A taxi license in Georgia will cost 100 lari per year.
BMW and VW are scaling back their ambitions in the electric vehicle market
Germany's dream of 15 million electric vehicles is fading as, without subsidies for electric vehicles, the country's demand is expected to fall by 14% this year. Even BMW and VW are scaling back their ambitions by…
How prices have changed in Georgia in 2023
How prices have changed in Georgia in 2023. According to the report of the National Statistics Agency of Georgia, annual inflation in Georgia turned out to be zero. Let's consider changes in prices for goods and services over the year according to…
7 million tourists visited Georgia in 2023
Record visit: More than 7 million tourists visited Georgia in 2023. The impressive figures reflect an increase in the number of tourists in Georgia in 2023, according to the National Statistics Service. Total number of foreign…
Georgia increases imports of Brazilian meat
Georgia will increase imports of Brazilian meat in 2023 and 2024. According to the National Statistics Service of Georgia, the country has shown significant growth in imports of meat and meat by-products from Brazil during…
Rental prices in Georgia fell by almost 30% 2024
Rental prices in Georgia fell by 20-30%. After abnormal demand caused by the massive arrival of foreign citizens in the country, the market began to stabilize, which led to a decrease in housing prices. Read…
FMO Bank provided a loan to TBC Bank in the amount of 80 million euros
On January 25, TBC Bank and the Dutch Development Bank (FMO) entered into an agreement under which FMO and other financial institutions will provide TBC with a subordinated syndicated loan in the amount of EUR 80 million. This loan…
Transfers from Russia to Georgia decreased by 5 times
The volume of remittances from Russia in December decreased by 5 times. In December 2023, the largest amount of transfers in the amount of $70.58 million came from Russia, but in comparison…
Prices for utilities in Batumi in 2024
From January 1, 2024, the consumer tariff for electricity in Georgia will be reduced both in the capital and in the regions of the country. The decision to reduce tariffs was made at a meeting of the National…
Vodka production in Russia fell in 2023
In the first ten months of 2023, vodka production in Russia decreased by 5.7%, compared with the same period in 2022, and reached 63.2 million liters. This data was provided…
How is low inflation achieved in Georgia 2023?
How was low inflation achieved in Georgia? Low inflation in Georgia is explained by a gradual decline in world food prices and strict monetary policy, confirms the National Bank of Georgia. In October 2023…
Stagnation of the Batumi real estate market in autumn 2023
In Batumi, there is a significant decrease in activity in the real estate market, according to a report published by Colliers Georgia, after an analysis of the Batumi real estate market in the fall of 2023. Analysis of the real estate market in Batumi for September…
The best lawyers in Batumi and corporate cases OTHNIEL
The editors of GeoInform magazine and I went to the amazing city of Batumi, located on the Black Sea coast, to meet with Lasha Seferteladze, CEO and chief lawyer of the OTHNIEL law firm. This experienced lawyer…
How to open a business in Georgia and where to start?
Business is now experiencing major upheavals and, if we do not adapt to the situation in the future, many companies will suffer and leave the market to open a business in Georgia. Recently, business in…
Businesses will pay the difference in electricity in Georgia
In Georgia, the state will pay for electricity to businesses. The government has approved a corresponding program of business subsidies, Georgian News reports.
What will the world economy look like in 2021?
The UN predicts that more people will die from malnutrition linked to the economic crisis than from the coronavirus itself.