How much does the average Georgian family spend per year?
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The average Georgian family in Georgia spends almost 20,000 GEL annually, shows latest research by London-based market research firm Euromonitor International.
The agency’s report provided insight into household spending patterns across Georgia in 2015 and revealed the largest areas of spending were food and non-alcoholic beverages, housing and healthcare in Georgia.
Conversely families in Georgia spent less on communications, hotels and eating out, and clothing and footwear.
Last year the consumer expenditure of the average Georgian family (comprising of two adults and two children) was 19,834.90 GEL (about $8,495.19/€7,614.58*). In 2014 the average family spent 18,775.40 GEL (about $8,041.78/€2,923.22*) and in 2013 families spent 17,363.70 GEL ($7,437.13/€6,665.89*), said Euromonitor International.
12 things Georgian families spend their money on
Figures showed an average family in Georgia spent more than 6,000 GEL on food and non-alcoholic beverages last year.
To break this down further, here are 12 things that Georgian families spent their money on:
- Food and non-alcoholic beverages - 6,270 GEL;
- Housing – 2,728.40 GEL;
- Health goods and medical services – 2,541.10 GEL;
- Transport – 1,883 GEL;
- Leisure and recreation – 1,272.40 GEL;
- Alcoholic beverages and tobacco – 1,054.80 GEL;
- Education – 797.70 GEL;
- Household goods and services – 796.70 GEL;
- Clothing and footwear – 635.60 GEL;
- Hotels and catering -493.30 GEL;
- Communications – 459.20 GEL;
- Other goods and services – 902.80 GEL.
How much money is enough to live in Georgia?
The cost of living in Georgia is decreasing and this reflects the lower cost of basic food and services. Today buying fruit, vegetables, eggs and dairy products is cheaper than in previous years, latest inflation rates show.
Today buying fruit, vegetables, eggs and dairy products is cheaper than in previous years, latest inflation rates show. Photo by N. Alavidze/Agenda.ge.
The cost of several basic food items was lower in June 2016 however prices were substantially higher for transport services, said the National Statistics Office of Georgia (Geostat).
Figures showed the monthly inflation rate in Georgia had dropped -0.9 percent in June 2016, following price changes to several commodities in the consumer basket. Prices of food and non-alcoholic beverages dropped 2.6 percent and contributed -0.79 percentage points to the overall monthly inflation rate.
Meanwhile last month transport prices increased 1.7 percent, contributing 0.19 percentage points to the overall monthly inflation rate. Prices were also substantially higher for transport services (2.2 percent).
Meanwhile, Geostat revealed a person needed at least $68 USD to support themselves in Georgia.
The minimum subsistence level for a working age male in May 2016 was 160.6 GEL (about $68/€61*), while an average family needed at least 269.4 GEL ($115 and €103) to survive.
As for households, the minimum amount of money needed was:
- For a one-person household – 142.3 GEL
- For a two-person household – 227.6 GEL
- For a three-person household – 256.1 GEL
- For a four-person household – 284.5 GEL
- For a five-person household – 320.1 GEL
- For a six or more person household – 378.4 GEL
What is the average monthly salary in Georgia?
The average salary received by all staff employed in private businesses in Georgia during the first quarter (Q1) of 2016 was 922.4 GEL. This was an increase of 70.7 GEL y/y.
Meanwhile women in the business sector earned an average of 687.1 GEL, or 46 GEL more than Q1 2015.
*Currencies are equivalent with the latest exchange rate by the National Bank of Georgia.