Georgia Capital Shareholder and Market Opportunity Overview
2010
million $
225
194
205
188
185
161
150
165
145
125
105
85
65
45
Jan
Feb
Mar
2018
Apr
2011
2012
2013
2016
2017
RECORD HIGH REMITTANCES AND REBOUNDING MERCHANDISE
EXPORTS MITIGATING DECREASED TOURISM REVENUES
Foreign investor interest remains resilient, notwithstanding the
one-off fall in FDI due to ownership transfers
Sources: GeoStat
25%
Visitors and tourism revenues
Sources: GNTA, NBG
GEORGIA
CAPITAL
Tourism revenues fell by 87% in 1Q21, although March showed first signs of recovery, with the
fall amounting to 60%
2018
2,000
9.4
1,800
3500
8.7
7.9
1,600
20%
3000
6.7
1,400
6.3
2500
5.7
5.9
1,200
1,000
10.3%
11.1%
11.7%
15%
4.7
10.3%
2000
800
6.9%
7.5%
7.2%
7.1%
10%
1500
3.1
6.2% 5.9%
600
3.9%
1000
400
5%
500
200
0
0%
0
2019
2020
FDI, US$ mn
Remittances at record high levels
Source: NBG
FDI, % of GDP
Remittance inflows continued growing at record levels, with 1Q21 growth totaling 28.4% y-o-y,
while April growth reached 145% due to the base effect
Merchandise exports
Source: Georstat
Goods exports grew by 5.2% y-o-y in 1Q21, while growth reached 70% in April 2021
May
2019
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2020
2021
450
400
350
300
250
200
150
100
50
0
Apr-17
Jun-17
Aug-17
Oct-17
Dec-17
Feb-18
Apr-18
Jun-18
Aug-18
Oct-18
Exports, US$ mn, LHS
2011
Tourism Revenues, $ mn
International Traveler Trips, mn
Dec-18
Feb-19
Apr-19
Jun-19
Aug-19
Oct-19
% change y/y, exports, RHS
Dec-19
Feb-20
Apr-20
Jun-20
Aug-20
Oct-20
Dec-20
Feb-21
Apr-21
74
74
80%
60%
40%
20%
0%
-20%
-40%
1.7
1.3
0.1
1
1Q21
Millions
10
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