Remittances from Russia to Georgia decreased by 74% year-on-year – Kommersant
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In January 2024, $67.7 million was sent from Russia to Georgia by bank transfers, as well as through the fast payment system. This is 74.7% less than the January 2023 figure. About this today reported National (Central) Bank of Georgia.
The report notes that, despite the reduction in transfers from the Russian Federation, Russia still ranks first among all countries from where currency is transferred to Georgia. In January, Italy was in second place with $44.2 million, the United States was in third ($38 million), Greece was in fourth ($18.5 million), and Israel was in fifth ($17.9 million).
In general, in January, remittances to Georgia amounted to $263.4 million. This is 40.8% less than in January last year. The share of transfers from the Russian Federation in the total amount of money transfers is 25.4%. The reduction in remittances from the Russian Federation is considered the most accurate and indicative symptom of the steady outflow from Georgia of Russian relocants who moved for permanent residence in the Caucasian country after the start of the military operation in Ukraine.
At the end of 2023, 1,856,237 Russian citizens entered Georgia, and 1,887,223 Russians left during the year. At the same time, the number of Russian tourists is growing steadily. During 2023, 1.183 million tourists from the Russian Federation visited Georgia. This is 23.2% of the total number of all tourist visits to the country.
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