Economic situation Strengthening the agricultural sector
In the World Bank's Doing Business Report 2020 (External link), which rates the business climate in 190 countries, Georgia ranks an impressive seventh.
However, the majority of the population benefits very little from this generally positive trend of economic development. Some 42 per cent of people are employed in agriculture, producing primarily in order to meet their own needs. The development of agriculture is being hampered by inefficient land use, poor infrastructure, the low quality of processed agricultural goods and poor training.
Development potential Extractive resources, renewable energy and tourism
Georgia has great development potential. Since independence, it has laid the legal foundations for the establishment of a stable democracy. The new legislation must, however, still be implemented and enforced more systematically.
Georgia's geographical location makes it an important connecting point between Europe and Asia. One major factor here is the transport of oil and gas from the Caspian region to the EU. Georgia also has its own deposits of extractive resources, such as manganese and gold. Its abundance of water and other renewable energy sources offers far-reaching potential for Georgia not only to meet its own energy requirements, but also to export energy.
The scenic beauty of the Caucasus also harbours great potential for international tourism.