Tourist arrivals up 18.0% in June
Total international arrivals (tourists and same-day arrivals) to Georgia increased by 19.9% y/y to 0.73mn in June 2019, according to the Ministry of Internal Affairs. This growth was mostly driven by tourists’ arrivals (+18.0% y/y to 0.47mn trips, 64.9% of total), while same-day arrivals also increased by 23.6% y/y. Out of top countries, in June 2019, international visitors increased from Russia (+30.8% y/y), Turkey (+45.8% y/y), Azerbaijan (+8.8%), Armenia (+9.7% y/y), Israel (+4.2% y/y) and Ukraine (+24.8%). Visitors continued to decline from Iran (-54.1% y/y). Visitors from the EU were up 29.3% y/y to over 51,500 visitors, with Germany, Poland and UK driving growth.
2019 Gross international reserves were up 24.3% y/y to US$ 3.7bn in June 2019. On a monthly basis reserves were up 0.5% m/m, according to NBG. Change in reserves was attributed to NBG’s FX purchases in the amount of US$ 30mn, government and banking sector FX operations and/or asset revaluation.