NGO: Georgia's revenue from transport services to increase by $150 mln in 2022
The report also said transportation revenues in Georgia amounted to $817 million in 2021, of which $712 million was revenue from shipping and related services. Photo: APM Terminals Poti/Facebook
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Revenues from transport services in Georgia will increase by about $150 million compared to 2021 and exceed $960 million in the ongoing year, Georgian-based non-governmental organisation Society and Banks revealed on Monday.
In its latest report, the organisation reviewed the country’s transit potential and noted demand for Georgian ports was growing due to the Ukraine war and sanctions imposed against Russia. The NGO also forecasted an increase in all types of freight and passenger transport, including a 50 percent increase in maritime transportation revenue amounting to about $160 million.
Significant growth is expected in maritime and road transport revenues due to the diversion of international cargo flows [which] will have a significant positive impact on Georgia's foreign exchange inflows and economic growth,” the organisation said.
The NGO also pointed out “undeveloped” and “unfinished” road, rail and maritime infrastructure remained a challenge in the country, noting the implementation of the Anaklia Deep Sea Port - which stalled in recent years - would have been a “significant competitive advantage” for Georgia.
Society and Banks stressed the importance of “effective steps” in establishing “a place in the new world order for Georgia as a transit hub”.
The report also said transportation revenues in Georgia amounted to $817 million in 2021, of which $712 million was revenue from shipping and related services.
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