The Georgian Lari: Tourism and Investment as Two Rate Levers
The Georgian lari (GEL) has a floating rate managed by the National Bank of Georgia. Three key factors influence it: tourism revenues (Georgia is among the top destinations for Europe and the Middle East), diaspora remittances, and the trade balance. After 2022, a significant number of relocants moved to Georgia, which increased demand for GEL and supported its rate.
Chinese Tourists in Georgia: Growing Flow and Demand for CNY-GEL
Chinese tourism to Georgia grew noticeably after the lifting of COVID restrictions: unique landscapes, affordable prices, and visa-free entry attract travelers from China. Tourists prefer to exchange yuan for lari before the trip or upon arrival, as Georgia accepts lari and partially dollars, but not yuan directly. ATM24 handles this conversion through the messenger or online request.
GEL and Yuan: How Georgian Banks Work with Chinese Settlements
The Georgian banking system is actively adapting to the flow of non-residents, including PRC citizens. TBC Bank and Bank of Georgia in 2022-2023 significantly expanded services for foreigners. At the same time, direct CNY to GEL conversions through Georgian banks often go through USD, adding a conversion step. For large amounts, ATM24 can offer a more direct route.
For Chinese tourists and entrepreneurs flying into Tbilisi, the most convenient way to get lari is an airport exchange office or bank, but the rate there is often worse than the market rate. ATM24 handles CNY to GEL conversion remotely at a fixed rate, which is suitable for planning a trip in advance.
The growth of Chinese investment in the Georgian economy - primarily in infrastructure and tourism - creates stable background demand for CNY to GEL conversion. For managers and contractors of Chinese projects in Georgia, this is a regular working operation.
