Businessman Mark Haynes Daniell: Georgia as investment destination is attractive proposition

Considering Georgia as an investment destination is a “very attractive proposition”, with the operating environment in the country being significantly improved along with an increase of the gross domestic product per capita, businessman and TV analyst Mark Haynes Daniell said on Wednesday after the Georgian Economy Minister Levan Davitashvili introduced a development plan for western Georgia’s Soviet-era Tskaltubo resort town to representatives of the private sector.

Daniell called Tskaltubo “jewel” of Georgian history and architecture, which “interestingly” connected the past and the future, and said the resort was “a rare opportunity” to invest in the past, which could be an interesting offer in the future, stressing it could achieve success and attract tourists from “all over the world” to enjoy its traditions, cuisine, tourist attractions and projects.

The country has a very capable government that provides services to the people and makes it easy for them to find facilities for investment. [...] Old countries like Georgia have gone through many crises and become stronger after each one. I think Georgia has been a very progressive country in the past, it will be very interesting in the future, and this interim period offers great opportunities to buy assets at very reasonable prices. This opportunity will not exist in the future, and right now there is an opportunity for people to invest in Georgia", said Daniell.

The rehabilitation project of Tskaltubo includes the creation of a “unique, modern” spa-resort, 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.

At the presentation of the project on July 5 Georgian Prime Minister Irakli Garibashvili said the government would invest “tens of million” of GEL in effort to rehabilitate the resort into a “world class” spa location and noted that the project would create at least 3,200 jobs directly, and would “significantly increase” the number of visitors to the region.