Georgia Capital Investor Day

Economic linkages to EU is stronger than ever Tourism sector supports FX inflows Number of overnight visitors 800 2015 2016 2017 2018 2019 700 5M2019 growth +7.9% y/y 600 500 thousands 425 349 400 328 306 300 248 200 100 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Temporary air travel ban impact is manageable GEORGIA CAPITAL Georgian Economy Key highlights for Jan-May 2019 ○ Tourism revenue from EU increased by 24% y/y; ○ Total tourism revenue excluding Iran and Turkey increased by 25% y/y; ○ Air passengers increased by 20.3% y/y with 27.3% share in total; ○ Total Tourism revenue increased by 10% y/y; Tourism share, 7.6% Russia share, 2% Temporary air travel ban, 0.8% Data sources: GNTA, NBG 17

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