The Business Ombudsman of Georgia Irakli Lekvinadze says that the main challenge that the Georgian business environment faces today is the expected ramifications of the Russian tourist embargo.
Lekvinadze talked about a possible reduction of revenues from the Russian market and stated that market diversification is important in the current situation.
"The Russian flight ban and the sharp decline in tourism flows reflected on the tourism industry and its related sectors. In the current situation it is important to further diversify the markets and international free trade agreements give us this opportunity”, said Lekvinadze.
He said that another challenge for the business society is the fluctuation of the Georgian national currency the lari as it affects the solvency rate of Georgian consumers.
Lekvinadze said that it is important to neutralise the pressure of political process and the National Bank of Georgia to have maximal coordination and communication with businesses in order to minimise the share of negative expectations in formatting the currency exchange rate.
source: AGENDA/ agenda.ge