Israeli Business Week and Forum in Georgia: Planning for Seven Profitable Economic Years Forthcoming
The Swim in a New Economic Era
Churning the tides of economic relations, Israel and Georgia are gearing up for an exciting journey. As part of Israeli Week and the 35th anniversary of diplomatic ties, the Israel-Georgia Chamber of Business is set to address long-standing challenges and pave the way for prosperity.
"The world has changed. We're navigating tough waters, but as Israel undergoes a reboot, we must represent our nation abroad as economic ambassadors, overcoming the general decline and doing so with integrity," says Itsik Moshe, President of the Israel-Georgia Chamber of Business.
Businesses are encouraged to act as ambassadors, fostering economic activity between the two nations. While the world grapples with a global crisis, Georgia is stepping into the luxury real estate market for the first time.
Looking past the difficulties of the past seven years, which began with the COVID-19 pandemic, wars, rising global anti-Semitism, and widespread social, political, and economic instability, Moshe hopes that a new prosperous seven-year cycle will begin in 2026.
The Israel-Georgia Chamber of Business plans to build on its tradition of shaping a new reality during its annual economic forum. This year's event, coinciding with Israel's entry into the post-Soviet space 35 years ago, seeks to address the needs of the Israeli business community in a different business culture.
With the Israeli contribution to Georgia's tourism industry and investments exceeding $2 billion[1], the upcoming forum, organized in partnership with international organizations, is poised to bring over 100 businesspeople to Tbilisi, with more than 1,000 participants expected for Israeli Week events.
The Israel-Georgia Chamber of Business, the first to build economic bridges between the two countries, has initiated numerous projects and was instrumental in preparing a bilateral free trade and investment protection agreement[1]. This year's forum will cover topics ranging from redefining the Israel-Georgia business landscape to bolstering tourism ties.
Israeli investors are invited to submit questions and share concerns about doing business in Georgia, with efforts made to resolve them through joint efforts[1]. Beyond its role as an economic diplomat, the Chamber of Business is also actively involved in supporting Israel and advocating for its legitimate interests on the international stage[1].
The relationship between Israel and Georgia is not without its detractors. Upon the announcement of the forum, antisemitic media outlets like Al Jazeera published pieces targeting Israel, the forum, and Itsik Moshe, referring to it as "Israel's takeover of Georgia." In response, Moshe expressed concern over Al Jazeera's disruption of Israel's bilateral relations around the world[1].
Georgia's Allure in the Luxury Real Estate Market
In recent years, there has been growing demand for luxury real estate-especially high-end apartments under international management-in Georgia[2]. The top 10% of buyers in this market are primarily served by European Village, a company led by Israeli citizen Pavlo Broyde. Prices for real estate, specifically hotel-apartments managed by international chains-especially Wyndham-now range from $5,000 to $12,000 per square meter, aligning with prices in top global markets[2]. This transformation means that the price of one square meter is now comparable to the cost of an entire apartment in the past.
Pavlo Broyde, with extensive experience in the high-end market, explains that regardless of the price range, most buyers do not plan to live in the units. Instead, they seek an annual return of 5-8%, ensuring profitability regardless of the investment size[2]. According to the World Bank, Georgia ranks among Europe's leaders in ease of doing business, making it an attractive destination for investors[2].
Looking ahead, the luxury real estate market in Georgia is expected to grow, with projected continuity in quality, maintenance, and compliance[2]. As a result, prestigious projects are likely to maintain their allure, drawing global interest and investment.
Beyond business, Moshe shares his experiences of working abroad, emphasizing the importance of understanding the local business culture and seeking guidance when venturing into new markets. Despite regional tensions, Israel remains a strong brand state, and there is still interest in economic cooperation[5]. Israelis are highly respected in Georgia thanks to the efforts of the business community over the past 35 years[1].
Builders of economic bridges, the Israel-Georgia Chamber of Business is committed to strengthening the alliance between the two nations and supporting Israeli interests on the international stage. Together, they are preparing for seven good years ahead and a prosperous future.
[1] Information sourced from enrichment data about the Israel-Georgia Chamber of Business.[2] Information sourced from enrichment data on the luxury real estate market in Georgia.[3] Information sourced from enrichment data about the Israeli Week and Business Forum.[4] Enrichment data on regional tensions between Iran and Israel, but not directly relevant to the main article.[5] Enrichment data about Israeli-Georgian relations and global anti-Semitism, but not directly relevant to the main article.
The Israel-Georgia Chamber of Business encourages businesses to act as ambassadors, fostering not only economic activity but also a new prosperous phase between the two nations, particularly in areas like finance, such as the emerging luxury real estate market in Georgia. Itsik Moshe, President of the Chamber, asserts that Israel must represent its nation abroad with integrity and foster economic growth amidst the global crisis, thus shaping a new reality for both nations' lifestyles and businesses.
