Economy Minister expects private sector to invest, take “active” part in Tskaltubo spa resort project

  • In his statement, the Minister also said “proper development” of the resort would see Tskaltubo join the list of “great spa cities” including Baden-Baden in Germany, Karlovy Vary in Czech Republic and Montecatini Terme in Italy, highlighting the “full potential” of the Georgian location to host visitors during all four seasons. Photo: Ministry of Economy.

Agenda.ge, 5 Jul 2022 - 20:19, Tbilisi,Georgia

Georgia’s Economy Minister Levan Davitashvili on Tuesday said he expected the private sector to be “very active” and invest at least ₾500 million (about $170mln/€166mln) in rehabilitation project for western Georgia’s Soviet-era Tskaltubo resort.

Davitashvili said the project would create at least 3,200 jobs directly - both during the construction and rehabilitation works and subsequent operation - over the next few years and have a “significant spillover effect” on the wider region. 

The project includes the creation of a “unique, modern” spa-resort in Tskaltubo, establishment of medical tourism services, rehabilitation of the city centre and public spaces, as well as opening of five premium-class and five middle-class hotels, in addition to four other facilities offering different types of accommodation.

Photo: Ministry of Economy.

Davitashvili noted the infrastructure would enable the resort to host up to 350,000 visitors and become an “attractive place for investment” not only for hotels but also for the supporting tourism industry infrastructure. The Minister estimated the project would increase local real estate prices tenfold.

This unique resort is distinguished primarily by healing waters and outstanding nature. [...] These are thermal, gaseous and radioactive waters with unique properties, which have no analogues in the world”, Davitashvili said at the presentation.

In his statement, the Minister also said “proper development” of the resort would see Tskaltubo join the list of “great spa cities” including Baden-Baden in Germany, Karlovy Vary in Czech Republic and Montecatini Terme in Italy, highlighting the “full potential” of the Georgian location to host visitors during all four seasons.

Davitashvili also praised the role of Bidzina Ivanishvili, the former Prime Minister and founder of Georgian Dream party, in the initiative for restoring the resort.

The project Tskaltubo's New Life PDF can be accessed at the following link

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