Georgia among fDi Magazine’s tourism locations of 2018
Monday, December 25fDi Magazine, an English-language bi-monthly news and foreign direct investment publication, awards Georgia for its successful strategies to attract investment in tourism sector.
fDi's inaugural Tourism Editor's Choice Awards for tourism single out the countries that have devised specific and successful strategies to attract investment.
The article read that Georgia is punching above its weight along with Belize, Croatia, Gambia, Greece, Jamaica, Saint Lucia, Valle del Cauca (Columbia) and Yerevan (Armenia).
"Investment in hotel space is essential in a country that experienced average annual growth in international tourist arrivals of more than 20 percent between 2011 and 2015, and Georgia has been recognised with an Investment Award for Hotels. Major developments include the €70m Biltmore Hotel, a seven-star hotel in Tbilisi, and the €25m Castello Mare five-star hotel on the Black Sea coast,” wrote fDi Magazine.
"Investors in the hotel industry can apply for the Hotel Development Incentive from 2018, allowing them to access state-backed finance for the development of hotels. The country has thus been given a Financing Support award in recognition of the effort to assist investors in the tourism sector,” it read.