Georgia
Over the past decade, Georgia has emerged as an investor-friendly economy strategically located on the Black Sea as a gateway between Asia and Europe. Georgia ranks very highly on many important economic indicators with the country being ranked #7 in the 2020 World Bank Doing Business Report and ranked #12 in the 2019 Fraser Institute Economic Freedom Index. Georgia’s economy is diverse across industries such as agriculture, construction, manufacturing, and trade, while the tourism industry has evolved into a significant driver for the economy as it accounted for 8.1% of GDP in 2019 and brought in USD 3.3 billion of foreign exchange earnings.
The outlook for economic growth is also bright as the country recovers from the pandemic with the Asian Development Bank (ADB) forecasting GDP growth of 8.5% in 2021 and 6.5% in 2022, the highest economic growth rate within the Central Asian region.
Georgia - GDP Growth Rate (%)
Georgia - GSX General Index
Stock Market:
The Georgian Stock Exchange (GSE) was established in 1999 and is the sole securities exchange in Georgia, with its headquarters in Tbilisi. As of April 2024, there were shares of 7 companies listed on the GSE with a total market capitalization of USD 2.2 billion. However, there are some large and well-established companies from Georgia listed on the London Stock Exchange (LSE). The two largest banks, TBC Bank Group PLC (not listed on the GSE) and Bank of Georgia Group PLC are both listed on the LSE with a market capitalization of more than USD 2.2 billion and USD 2.9 billion respectively. The third company from Georgia listed on the LSE (but not on the GSE) is Georgia Capital which has a market capitalization of USD 711 million (all as of April 2024).
Useful Links:
Georgian Stock Exchange (GSE) website: www.gse.ge
GEORGIA
Population: 3.7m
2021 GDP Growth: 10.6%
- Tourism industry is seeing a rebound
- Business friendly environment
- Strategic access to Black Sea ports
