Lack of investment in tourism and agriculture
By Messenger Staff
Tuesday, March 20The Georgian government has identified two economic priorities: tourism and agriculture. Tourism has been promoted for some time already, whereas agriculture has only become a priority in the past year.
In 2011, Georgian banks gave out 57 million GEL in agricultural loans, and 54 million GEL in loans to hotels and restaurants. This amounts to less than 1% of all credits issued by Georgian banks.
Investors are also slow to finance these sectors. Out of $981 million USD FDI in 2011, only $13.6 million USD was invested in agriculture and $13.9 million in hotels and restaurants. That is approximately 1.5% of the total investments.