Georgia’s GDP Continues to Grow in 2023
Alexey Grigoriev
Georgia's GDP growth in 2023
In June 2023, Georgia’s GDP increased by 7.7%. The average growth rate for the first half of 2023 was 7.6%, according to the Georgian National Statistical Office Geostat.
In the backdrop of June 2023, a noteworthy upswing graced Georgia’s landscape, with growth registering in the domains of construction, commerce, finance, and insurance when compared to the same period the previous year. It’s worth revisiting the fact that in the year 2022, Georgia’s GDP exhibited an impressive ascent, clocking in at 10.1%.
Demand for premium real estate
The burgeoning construction sector in Georgia has been a magnet for a multitude of international investors. With increasing demand for real estate, particularly in the premium segment, a growing array of investment opportunities emerges for those seeking substantial passive income.
Consider the vibrant transformation taking shape in Batumi, particularly within the esteemed enclave of Gonio, where a lavish resort complex is underway courtesy of the globally celebrated Wyndham Hotels & Resorts. Nestled amidst verdant parklands, in close proximity to the unspoiled shores of Gonio, this complex is poised to accommodate a rich tapestry more than 100+ meticulously designed infrastructure offerings. Astute investors can explore an array of possibilities within the Wyndham Grand Batumi Gonio, ranging from luxurious hotel rooms to spacious family residences, opulent villas, or charming townhouses.
Overseeing the management of these properties and ensuring their year-round occupancy will be entrusted to Aimbridge Hospitality, a venerable company with six decades of industry expertise and an unblemished reputation.
Terms for investors
When buying, you choose one of two income options: a fixed income of 10% per annum under the contract, regardless of hotel occupancy, or occupancy-based income of up to 15% per annum. A buyback option is also available: after two years of ownership, you can get back 100% of the amount paid.
Economic and tourism growth in Georgia supports demand for premium hotel holidays, which room owners’ income depends on.
FAQ
How much did Georgia's GDP grow in 2023?
According to Geostat, by 7.7% in June 2023 and by 7.6% on average in the first half of the year.
How did Georgia's GDP grow in 2022?
By 10.1%.
Who manages Wyndham Grand Batumi Gonio?
The international management company Aimbridge Hospitality.
What income can the owner of a hotel room receive?
When buying, you choose: a fixed income of 10% per annum under the contract, regardless of occupancy, or occupancy-based income of up to 15% per annum.
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