Bloomberg: “How Georgia’s Economy Is Defying the Global Downturn”

Georgian capital city of Tbilisi. Photo: Bloomberg, Apr 25, 2023, Tbilisi, Georgia

With a “strong” economic performance and backing from investors, Georgia is in “exactly the right place to grow and become a hub for global business”, a new article by Bloomberg argues.

The article points to Georgia's “distinct geographic advantage” as a gateway between East and West, saying the country’s transport connections are “key to its future growth”. 

The nation sits at the heart of the Middle Corridor trade route, which provides an alternative to the Northern Corridor between China and Europe, which has been impacted by conflict. The Middle Corridor is being positioned as the fastest and most economic trade route linking China to Europe”, it reads.

Noting its “strategic location”, the Bloomberg piece says Georgia will play an “increasingly pivotal role” in international energy supply while noting the Black Sea submarine electricity cable project, conceived to connect the electrical grid of the South Caucasus to those of European states. 

The Bloomberg article also views Georgia as a “leading investment destination”, pointing to foreign direct investments in Georgia jumping to an “all-time high” of $2 billion in 2022, a 61 percent increase on 2021. 

Read the full story here.