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Batumi Boulevard Development Plan Issue no: 1170/190 • JULY 23 - 25, 2019 • PUBLISHED TWICE WEEKLY PRICE: GEL 2.50 In this week’s issue... Weekly Entrepreneurial News @entrepreneur.ge NEWS PAGE 2 EU, Georgian Gov’t Sign EUR 28 mln SAFE Program NEWS PAGE 2 Russian Rugby Union FOCUS Cancels Test Match with ON BEATING Georgia NEWS PAGE 3 THE BAN June 2019: Average Hotel Though Russian tourist numbers are down, Georgia's tourism Prices & Hotel Price Index in sector continues to grow as the market diversifi es PAGE 2 Georgia BUSINESS PAGE 4 Image source: GNTA Tomsguide Publishing: HUAWEI P30 Pro Camera Batumi Boulevard Development Plan is Revolutionary BY SAMANTHA GUTHRIE BUSINESS PAGE 6 Top 5 Protected Areas his week, Batumi Boulevard announced plans to open a tender for a company to provide functional zoning and landscaping on and around the boulevard. The boulevard is being updated in Georgia Visited Most in accordance with city development plans, which include preserving the historic parts of the boulevard and expanding Frequently Tits footprint, with particular emphasis on preserving its character and nearby 10 SOCIETY PAGE historic buildings. The Batumi Boulevard was born in 1881 as a seaside park built by a Ger- man landscape artist, commissioned by the governor of Batumi. Today’s Needing Russia, boulevard, divided into old and new parts, is approximately 7 kilometers long. Hating Russia The company selected by the Batumi Boulevard will have one year to complete the work, at a cost of 435,000 GEL ($151,300). The three-part pro- POLITICS PAGE 11 Image source: In Your Pocket Prepared for Georgia Today Business by ject will include research, the creation of a development plan, and the Markets Asof19ͲJulͲ2019 production of guidelines for the administrators of the Batumi Boulevard STOCKS Price w/w m/m BONDS Price w/w m/m to follow. The project aims to produce a development plan that will pre- BankofGeorgia(BGEOLN) GBP16.13 +0,8% Ͳ2,8% GEOROG04/21 104.85(YTM3.86%) +0,1% +0,1% GeorgiaCapital(CGEOLN) GBP10.06 Ͳ1,4% Ͳ6,7% GEORG04/21 105.77(YTM3.39%) +0,0% Ͳ0,4% serve the landscape and architectural beauty of the old Boulevard, while GHG(GHGLN) GBP2.35 +2,9% Ͳ6,9% GRAIL07/22 109.78(YTM4.21%) +0,0% +0,4% establishing new recreation areas that can be enjoyed by both locals and TBCBankGroup(TBCGLN) GBP15.28 Ͳ1,7% Ͳ7,4% GEBGG07/23 101.30(YTM5.63%) +0,2% Ͳ0,7% tourists, and people of all ages and abilities. The deadline to submit a bid COMMODITIES Price w/w m/m CURRENCIES Price w/w m/m CrudeOil,Brent(US$/bbl) 62,47 Ͳ6,4% +1,1% GEL/USD 2,8761 +1,2% +3,1% is August 19. GoldSpot(US$/OZ) 1425,37 +0,7% +4,8% GEL/EUR 3,2266 +0,8% +3,0% The announcement is part of a series of efforts over the past few years GEL/GBP 3,5969 +0,7% +2,0% INDICES Price w/w m/m GEL/CHF 2,9328 +1,8% +4,8% to update and improve the tourist infrastructure of Batumi. FTSE100 7508,70 +0,0% +1,4% GEL/RUB 0,0457 +1,3% +4,3% FTSE250 19621,66 +0,4% +2,0% GEL/TRY 0,5089 +2,5% +5,6% In June 2016, then-Chairman of the Government of the Autonomous DAX 12260,07 Ͳ0,5% Ͳ0,4% GEL/AZN 1,6965 +1,3% +3,2% Republic of Adjara, Archil Khabadze, announced plans to invest $40 mil- DOWJONES 27154,20 Ͳ0,7% +2,5% GEL/AMD 0,0060 Ͳ +3,4% NASDAQ 8146,49 Ͳ1,2% +2,0% GEL/UAH 0,1118 +1,5% +5,6% lion in the development and reconstruction of the New Boulevard of MSCIEMEE 177,99 Ͳ1,5% Ͳ0,5% EUR/USD 0,8912 +0,4% +0,0% Batumi. The original plan allocated 50% of the territory to tourist-recre- MSCIEM 1057,49 +0,6% +1,9% GBP/USD 0,7998 +0,6% +1,1% SP500 2976,61 Ͳ1,2% +1,7% CHF/USD 0,9819 Ͳ0,2% Ͳ1,2% ation zones, and included the construction of hotels and other tourist- MSCIFM 2842,43 Ͳ0,4% +3,6% RUB/USD 63,0267 +0,1% Ͳ1,1% focused facilities. GTIndex(GEL) 1582,68 ͲͲTRY/USD 5,6591 Ͳ1,1% Ͳ2,3% Continued on page 3 GTIndex(USD) 1208,13 ͲͲAZN/USD 1,6979 Ͳ0,1% Ͳ0,1% GEORGIA TODAY 2 NEWS JULY 23 - 25, 2019 Tourism in Georgia Continues to Grow After Flight Ban @entrepreneur.ge Gamarjoba! I’m the Editor-in-Chief of the BY AMY JONES Georgian edition of Entrepreneur magazine and I’m here to share the top weekly Entrepreneurial news with you: ata from the Ministry of National Delicacy will be of interest to those who think Internal Affairs has a good daily diet and saving time are equally important. revealed positive growth Equipped with the latest technologies, the factory is in Georgia’s tourism indus- located in Dedoplistskharo and offers premium as well try, despite the Russian as budget ready-made food for clientele, who can Dfl ight embargo which began on July 8. choose from 10 different dishes. Made of Georgian-only TBC Bank released an analysis of the ingredients, the superiority of the brand comes in the data in Caucasus Business Week which simple and practical use of products and the fact they shows that although the number of Rus- are 100% natural and chemical-free, feature in sians visiting Georgia has fallen, tourism comfortable packaging and last up to two years. grew by 3.2% year-on-year. Currently available only in Tbilisi, Batumi and Rustavi, In the fi rst week of July in 2018, 52,144 expansion is planned for the near future. Russians visited Georgia, compared to 50,030 in the same time period in 2019. Chef Saradjeff, a new restaurant, was The second week of the fl ight ban launched by Nikoloz Sarajev, representative showed numbers dropping from 52,720 of the 6th generation of the renowned Russian visitors in 2018 to 41,423 in 2019, Sarajishvili family. He decided to use his a year-on-year decrease of 21.4%. In addi- family’s house as the venue for the tion, Russian airport traffi c fell by 78.6% restaurant, keeping the original appearance. with Batumi and Tbilisi airport losing The restaurant features a small wine cellar 88.1% and 75.2% of their Russian custom- which stocks nearly 30 wines from local ers, respectively. Image source - Emerging Europe entrepreneurs. The founder of the restaurant The number of Russian travelers arriv- imposed a ban on direct fl ights between ing campaigns targeting both Russia and is also the chef and recently introduced an ing in Georgia via the Kazbegi land bor- Russia and Georgia following protests other countries in an attempt to lessen innovative product to Georgia: additive-free der fell from 26,001 in 2018 to 23,544 in that erupted in Tbilisi on June 20. The the effects of the fl ight ban. In addition, dough. His brand shop has already become 2019. However, those traveling via alter- protests, often considered to be anti- initiatives such as the social campaign popular and a second is to be launched in native forms of land transport rose by Russian, began after a Russian MP spoke #spendyoursummeringeorgia are encour- the new restaurant. 6% from 13,186 to 13,981. from the Georgian Parliament Speaker’s aging tourists from around the world to The Ministry of Internal Affairs’ data chair during a session of the International visit. Canning company Kula is meeting the summer nonetheless reveals that a signifi cant num- Assembly on Orthodoxy in Tbilisi. Tourism is an important industry for season with a brand-new factory which, Vano ber of Russians are fi nding alternative fl ight Protestors called for the resignation of the Georgian economy. Last year, 8.7 Goglidze states, is to be focused on the routes to fl y to Georgia. 2,898 Russians the Parliament Speaker and the Minister million international tourists visited the production of bio products. Test batches will be arrived via plane in the second week of July, of Internal Affairs and the end of Rus- country, bringing $2.6 billion in revenue sent to Germany for the relevant certifi cation, possibly fl ying via Armenia or Ukraine. sian occupation in Georgia’s breakaway in the fi rst three quarters of 2018. which will take around a year, though Kula plans Although the number of Russian tour- regions of South Ossetia (Tskhinvali) 1,404,757 Russian visitors arrived in to bring in the materials necessary for the juices ists visiting Georgia dropped by 21% in and Abkhazia. Georgia in 2018, suggesting that the fl ight from this summer. The company has three the second week of July this year com- The fl ight ban was internationally ban could still have a signifi cant impact factories- the others being for juice and tinned pared to 2018, the number of visitors to criticized. Donald Tusk, the head of the on the Georgian economy. Georgia’s meat, all located in the region of Gori. Georgia still showed positive growth of European Commission, called the fl ight National Tourism Administration Head Follow the Entrepreneur Georgia Instagram page to get the latest updates from 3.2% year-on-year as the tourism market embargo “disproportionate, unfair and Mariam Kvrivishvili said that the indus- Georgian Entrepreneurs. For doing business with Georgian Entrepreneurs, write us on diversifi es. unjustifi ed.” try could lose one million tourists due [email protected] Russian President Vladimir Putin The government has launched market- to the ban.
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