Georgia is an emerging destination for international property investors, but not exclusively them alone.
The World Bank expects Georgia’s economic growth to be at an average rate of 5.5 per cent, per year, over the medium term, based on greater policy certainty, improved market access and strong structural reform implementation. Irakli Kilauridze, Managing Director, Colliers Georgia, and Sulkhan Khabadze, Director, British Georgian Chamber of Commerce in London discuss the business climate and investment opportunities in Georgia.
According to World Bank projections, Georgia’s economic growth is expected to be at an average rate of 5.5 per cent, per year, over the medium term. This is based on greater policy certainty, improved market access and strong structural reform implementation.
Georgia wants to be the link between China and Europe, which they hope will be one of the country’s growth drivers. At the moment Georgia is negotiating a free trade agreement with the Asian giant and they are already a part of the free trade area of the EU. At the beginning of March, the European Commission proposed to lift visa obligations for Georgian citizens.
Foreign investors have already arrived in Georgia. According to the World Investment report, they invested 1.3 billion dollars in 2014, alone.