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Georgians have revealed themselves to have overall low levels of financial literacy. Only 6% of respondents to a new research survey were financially literate, which naturally negatively affects the economic situation in the country. ISET's Policy Institute, together with TNS and TBC Bank, conducted the first ever large-scale survey on financial literacy in Georgia. A total of 1000 respondents were surveyed in seven major cities of Georgia: Tbilisi, Batumi, Kutaisi, Zugdidi, Poti, Gori, and Rustavi. They survey was centred around a core questionnaire designed to reveal financial behaviour, attitudes, and knowledge in order to assess levels of financial literacy and financial inclusion. Financial literacy was measured by four specific questions about simple interest rates, compound interest rates, inflation, and risk/diversification. A majority (52%) answered only one or none of the questions correctly, displaying low financial literacy (illiterate).
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On April 15, ISET Policy Institute researcher Lasha Labadze attended a student conference on the topic of “Tourism Development Perspectives in Georgia and World Experience”. Organized by the Research and Planning Department of the Georgian National Tourism Administration, and supported by ISET along with other partners, the event aimed to involve students in improving and solving the issues that the country is facing today in the tourism industry. It gave the participants an opportunity to collaborate with each other as well as the national administration in order to carry out research and bring new ideas to the tourism sector.
All students from accredited universities - including vocational institutions in Georgia and abroad - had the chance to participate in the event. Around 100 projects were submitted, from which 20 were chosen to be presented during the event.
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