We are pleased to present the 37th English issue of Forbes Georgia. This issue features a variety of articles on topics such as business, entrepreneurship, and economics. We hope you enjoy reading it as much as we enjoyed putting it together.
Cover Story
◾ Georgia on his mind | by: Anina Tepnadze
John Dodelande is betting big on Georgia. The entrepreneur and art collector is leading a wave of projects that fuse projects that blend hospitality, art, and innovation starting with the country’s first airport hotel under ACCOR’s Ibis brand. But his ambitions extend far beyond real estate.
Fact and Comment
◾ Choose Dishonor and You Will Have War | By: Shota Dighmelashvili
After World War II, the United States established a rules-based international order — institutions, alliances, and norms designed to prevent wars between great powers and safeguard the sovereignty of smaller nations. Today, this order is on the verge of collapse — America is imposing tariffs on its allies and discussing the potential for future cooperation with Russia. All of this is unfolding under the slogan “America First.” What will happen if the U.S. shifts toward isolationism and abandons internationalism and global leadership?
Leaderboard
◾ Most Profitable Supermarkets
Retail accounts for 13.8% of Georgia’s economy, underscoring the sector’s significant role. A crucial aspect of retail is food products, which are increasingly being sold through supermarkets. Here, we present the ten largest supermarkets operating in the Georgian market, along with their financial indicators. The ranking of these supermarkets is based on the profit margin for 2023, which is the ratio of pre-tax profit to revenue.
◾ International Protest in Numbers
Protest is not only a fundamental human right but also a powerful tool for fostering positive change. While governments should respect this right, they often view protests as threats to their authority, leading to responses of repression or violence.
◾ What products does Georgia sell to the European Union and the Commonwealth of Independent States (CIS)?
In 2024, Georgia’s local exports totaled $3 billion, reflecting a 5% increase from 2023. Local exports refer to goods produced in Georgia, excluding re-exports. Out of the $3 billion in exports, nearly $1.3 billion went to the Commonwealth of Independent States (CIS), while $477 million was directed to the European Union (EU). The CIS includes post-Soviet countries, excluding Georgia, Ukraine, Estonia, Latvia, and Lithuania. Among CIS countries, Russia, Armenia, and Azerbaijan hold the largest shares in Georgia’s exports, accounting for 80% of exports to the CIS.
Rating
◾ The Most Promising Georgian Startups
There has been significant progress in the Georgian startup ecosystem in recent years. This advancement is reflected in the success of companies that are making their mark in international markets through innovative ideas and large-scale projects. Forbes Georgia and Axel have teamed up to create a list of the most promising startups in the country. This list highlights the potential of locally established companies, showcasing their financial accomplishments, technological innovations, and opportunities for global expansion.
Opinion
◾ What Does the Increasing Geopolitical Tension Between the U.S. and Europe Indicate? | By: Giorgi Tskhadaia
In recent weeks, Donald Trump’s administration’s foreign policy has significantly deepened the geopolitical divide between the U.S. and Europe, a rift that has been evident for some time. This article will examine the origins of this disagreement and the potential impact that tensions within the Western bloc could have on Europe’s security.
◾ Admiration for Putin: What Has Changed Trump’s Rhetoric? | By: Aka Zarqua
In 2018, the Hall of Mirrors at the Finnish Presidential Palace hosted the first summit between Vladimir Putin and Donald Trump. The presidents of Russia and the United States locked themselves in a meeting room with only translators present and no advisors. Negotiations lasted four hours. After the meeting, Putin and Trump walked into a press conference room filled with journalists. Trump held a soccer ball—a gift from Vladimir Putin to his youngest son, Barron.
Business
◾ Escaping Sanctions | Bidzina Ivanishvili Moves Offshore Assets to Georgia | Author: Iza Gvaramadze
Bidzina Ivanishvili, the founder and honorary chairman of Georgian Dream, and his family have begun transferring offshore assets back to Georgia. As reported by Transparency International Georgia, by January 29, the Ivanishvili family registered eight new joint-stock companies in the country and moved twelve companies from offshore jurisdictions. Consequently, they have effectively dissolved four offshore companies.
◾ Where Modernity Meets History
For more than a decade, Zurab Kopadze has led the way in Georgia’s tourism industry, significantly influencing Tbilisi’s hospitality sector. His passion for the country’s rich cultural heritage is evident in the unique hotels he has developed, offering visitors an authentic experience in the heart of Tbilisi.
Strategy
◾ The Top 10 Geopolitical Risks | By: Aka Zarqua
The world is entering an extremely dangerous phase where the global order is rapidly changing. The authors of the annual report by Eurasia Group, a consulting firm founded by Ian Bremmer, have compared the current situation to the 1930s and the early Cold War period. According to them, the top ten geopolitical risks of the year are as follows.
Entrepreneur
◾ Two Names, Two Homes, One Path | By: Kakhi Chakvetadze
For the past 22 years, Xiaojun Yi (Sandro Beridze) has bridged two worlds by shipping over 1,000 cargo containers each year from China to Georgia. He also facilitates travel for students and tourists from China to Georgia and supplies the 200 Georgian wine stores he established in China.
◾ The New Wave at Tbilisi Sea | By: Anina Tepnadze
Nodar Giorgadze, the President of Gino Holding, has devoted years to developing one of Tbilisi’s key recreational areas: Tbilisi Sea. Following the successful establishment of one of Europe’s top water parks, his next goal is to launch a unique urban seaside project called Tbilisi Boulevard, which is projected to be valued at €250 million.
Technology
◾ A friend who is good at everything | By: Anina Tepnadze
In 2022, Sandro Tavkhelidze aimed to address a common challenge by alleviating the overwhelming burden of daily tasks for individuals. His platform, Wempler, has successfully completed over 70,000 tasks and has attracted a total of $400,000 in investments. After achieving notable success in Georgia, Sandro now plans to replicate these results in other countries throughout the region.
◾ Employment at the snap of a finger | By: Anina Tepnadze
In just two years, the Georgian startup Awork has evolved from a small employment platform into a comprehensive digital ecosystem that includes applications, a website, and an applicant management system. Today, it serves over 150,000 job seekers and more than 1,000 businesses. While rapid growth presents operational challenges for any organization, Awork’s Chief Operating Officer, Giorgi Mumladze, possesses the knowledge and determination to tackle these difficulties effectively.
Investigation
◾ House of Cards in Georgia: Mamatsashvili’s Estate Expands
Ucha Mamatsashvili recently acquired a construction permit for a luxurious residence in Tskneti in an unusually short timeframe. Located on a prestigious 9,000-square-meter plot in Kaklebi, this land was partially purchased by his brother, Archil Mamatsashvili, from the Tbilisi Municipality at a price well below market value. It was later transferred to Ucha Mamatsashvili free of charge.
◾ Why Isn’t Georgia Using the Black Sea Cable? | By: Kakhi Chakvetadze
According to Magticom, on January 27, 2025, internet service in Georgia was disrupted due to network damage in both Georgia and Türkiye. Georgia can connect to the internet directly from Europe via a 1,200-kilometer cable that links the country to Bulgaria, bypassing Turkiye and Russia. Why is this opportunity not being fully utilized?
Economy
◾ The Past Year and the Challenges That Lie Ahead | By: Beso Namchavadze
A year ago, I wrote that 2024 might bring many unexpected events and that the future was uncertain. Since then, significant developments have occurred: the government passed the so-called “Russian Law,” officially halted its journey toward the European Union, and violently cracked down on demonstrators who took to the streets. In response, Western countries imposed sanctions on officials from the Georgian Dream party.
◾ How have the political crisis and sanctions affected Georgia’s economy? | By: Beso Namchavadze
According to the National Statistics Office of Georgia, the country’s economy grew by 9.5% in 2024, while inflation stood at 2%. In the fourth quarter of 2024, the unemployment rate was 14.2%, a decrease of 1.1% compared to the same period in 2023. The state budget was executed as planned, and public debt did not increase significantly.
◾ Caucasian Growth Cycle: The Economic Impact of War Is Behind Us | By: Egnate Shamugia
History
◾ The Shadow of Maximus | By: Nika Khoperia
Ridley Scott’s ‘Gladiator’ is one of the most successful and iconic films of the 2000s. This epic historical blockbuster delivers a Shakespearean tale of revenge that captivates audiences with its grand-scale battles, duels, and breathtaking scenes. Despite its numerous historical inaccuracies, Scott masterfully crafted a magnificent and unforgettable portrayal of Rome that continues to draw viewers today.
