Source: http://www.agbdc.com

PRESS RELEASE
July 22, 2007

America-Georgia Business Council to Develop National Tourism Strategy for Republic of Georgia

On June 21, 2007, the US Trade and Development Agency and the Ministry of Economic Development of Georgia announced the selection of the America-Georgia Business Council (AGBC) to create a strategic tourism plan for Georgia. The project is funded by USTDA and will be conducted by AGBC in partnership with SW Associates, LLC, an international tourism development consultancy based in Washington, DC.

"Tourism is growing rapidly in Georgia," said S. Enders Wimbush, President of the AGBC. "Many of our members are interested in the investment opportunities of tourism and tourism-related infrastructure. They see tourism as a catalyst for better infrastructure and a way to accelerate sustainable growth and development all across the Georgian economy. We on the Council have long believed that tourism should be one of the principal engines of the Georgian economy."

"We will be working closely with the Georgia Department of Tourism, the private sector and other stakeholders to evaluate current tourism resources, identify opportunities and make recommendations for enhancing tourism development," added Mamuka Tsereteli, Executive Director of AGBC. "Ultimately we seek to attract investment to some of Georgia's most attractive tourism assets. We aim to make tourism a truly sustainable source of investment and development all across the entire country." The AGBC's larger vision is to position Georgia as an even more competitive transport, trading and financial hub on the new Silk Road that stretches east and west, from the Black Sea to China.

The country's prime location in the South Caucasus offers many attractive tourism resources, including Black Sea beaches, Caucasus mountain skiing, historic towns, castles and monasteries, wine tourism and picturesque mountains, all of which have lured an increasing number of international visitors in recent years. To date, however, no comprehensive plan exists to develop and orchestrate these resources so as to best encourage tourism and meet demand. The USTDA grant awarded today is intended to address this issue.

"Key tourism indicators are moving in a direction that makes sense for investors. Tourism arrivals to the Republic of Georgia increased over 50% in 2006 compared to 2005," said Scott Wayne, Principal of SW Associates. "In March, the World Economic Forum's first annual Travel and Tourism Competitiveness report ranked Georgia as the most competitive tourism destination country in the region. The country ranked first among 124 countries on the ease of visa requirements, third on hiring foreign labor, and 16th on business-friendly labor practices. Everything is headed in the right direction."

MEDIA INQUIRIES
(202) 416-1606
agbdc@agbdc.com

On-line version: http://www.agbdc.com/Notice1.asp