Business opportunities in Georgia
Are you interested in starting a business in Georgia? If yes, this article is for you.
During last 15 years, Georgia became one of the most attractive investing Destination for the foreigners.
You can see our article about top 6 reasons, why to invest in Georgia?
In this article, we will discuss why Georgia is full with business opportunities for foreign investors.
Brief information about Georgia
Georgia is a small eastern European country strategically located between Europe and Asia, it shares boundary with Russia from the north, Azerbaijan from the east, Turkey from the south-west, Armenia from the south, and black see from the west.
Throughout centuries, Georgia has been attracting great interest of Turkey, Iran, Mongolia, Russia and other powerful countries of the region.
The country – Georgia emerged as an independent state from the fall of the Soviet Union in 1991. Since then, geopolitical circumstances and domestic developments in Georgia have become increasingly significant for the United States of America, the European Union (EU) and Russia.
Nowadays, the country has attracted increased attention in terms of European and Western energy security and plays an active role due to its strategic geographical location.
Particularly, the new energy export infrastructure – the Baku-Tbilisi-Ceyhan (BTC) pipeline is important for Europe and the USA as it bypasses Russia and undermines Moscow’s hegemony in Caucasus.
Georgia also is important transit country to carry different kind of goods from the Caspian Sea region.
The capital city of Georgia is Tbilisi and the official language is Georgian, but Russian, Armenian, Azerbaijani are also widely spoken; hence Georgia is a mix cultural country.
Lari is the currency used in Georgia and its population is about 4.5 million people with over 80% being Orthodox Christians.
Economy of Georgia and Opportunities for investors
Georgia’s economy is considered to be one the fastest growing economies in whole of Eastern Europe. Energy, Tourism and real estate are the fastest growing sectors in the Georgian economy.
The agriculture sector in Georgia is notable for the cultivation of crops like nuts, tea, fruits, apples, etc.
The number of tourists are growing from year to year, more than a million tourists visit Georgia annually, thereby boosting the economy with an average of US$400-500 million annually.
Taxes in Georgia are relatively low, comparable to the other European countries.
Georgia has numerous international trade agreements, deep and comprehensive trade regime with EU and trade agreement with china need to be noted.
Therefore, if you are looking towards starting a business in Georgia, then you are on the right path because currently, Georgia is ranked as the 9th country in the world when it comes to the ease of doing business.
Also you should see: Top business industries to invest in Georgia