Tskaltubo Spa & Wellness Resort Development. Investment Proposal Ministry of Economy and Sustainable Development of Georgia

Size: px

Start display at page:

Download "Tskaltubo Spa & Wellness Resort Development. Investment Proposal Ministry of Economy and Sustainable Development of Georgia"

Naomi Harrington
5 years ago
Views:

1 Tskaltubo Spa & Wellness Resort Development Investment Proposal Ministry of Economy and Sustainable Development of Georgia

restrictions on currency convertibility or repatriation of Personal Income Tax 20% Corporate Profit Tax 0% or 15% Customs/ Import

3 Simple, Low and Efficient Taxation System 8th Least Tax Burden Country in the World Taxes Rate VAT 18% No Corporate Profit tax on retained/reinvested profit No payroll tax or social insurance tax No capital gains tax No wealth tax and inheritance tax No restrictions on currency convertibility or repatriation of Personal Income Tax 20% Corporate Profit Tax 0% or 15% Customs/ Import Tax 0%, 5% or 12% Property Tax Up to 1% Excise Tax Depends on goods capital & profit Double taxation avoidance treaties with 54 countries

Tourism Inflow of International visitors in Georgia (mln)

2011 2012 2013 2014 2015 2016 2017 Tourism Revenues (USD

938,3 50,4% 1410,9 1709,9 1786,3 21,2% 4,5% 1935,8 8,4%

Russia Turkey 1246 1392 1718 1694 2011 2012 2013 2014

4 Tourism Inflow of International visitors in Georgia (mln) 5,4 4,4 2, , % 6,3 7.6 mln Tourism Revenues (USD million) Top 5 Countries by Arrivals in 2017 (000 ) 42,3% 938,3 50,4% 1410,9 1709,9 1786,3 21,2% 4,5% 1935,8 8,4% 2165,9 11,9% 2750,0 27,0% 27,8% 325,6 Armenia Azerbaijan Russia Turkey Jan-Feb, 2018 Revenue from International Tourism Growth Rate Iran 322

Opportunities in Tourism Sector SUN-BEACH RESORTS SKI & MOUNTAIN RESORTS SPA RESORTS REGIONAL CASINO CITIES MICE Description Potential Locations Each Georgian sea resort has its own peculiarities.

Georgia becomes more and more attractive in terms of winter sports and adventure holidays. Majestic landscapes allowing for a wide range of summer tourism activities.

5 Opportunities in Tourism Sector SUN-BEACH RESORTS SKI & MOUNTAIN RESORTS SPA RESORTS REGIONAL CASINO CITIES MICE Description Potential Locations Each Georgian sea resort has its own peculiarities. Batumi is a center of nightlife and entertainment, famous for its discos, clubs, cafes and long beautiful promenade Batumi Anaklia Kobuleti Winter resorts with unique profile equivalent to the Alps. Georgia becomes more and more attractive in terms of winter sports and adventure holidays. Majestic landscapes allowing for a wide range of summer tourism activities. Gudauri Svaneti Bakuriani Goderdzi Kazbegi Bakhmaro More than 2000 springs are discovered in the territory of Georgia, which were used by local population for a long time. It is considered that mineral waters cure different diseases faster than the medicines. Tskaltubo Borjomi Sairme Likani Akhtala Tbilisi In Georgia gambling business is allowed; Georgian gaming laws are similar to many other developed countries. Casinos are located in major cities of Georgia, but most importantly they are available in chain hotels all over Georgia. Tbilisi Batumi Tskaltubo Perfect venues for holding conventions, seminars, workshops incentives and other varieties of events. Tbilisi Batumi Borjomi

Tskaltubo s springs are used in complementary healing processes for number of diseases, including cardiovascular, locomotor, nervous, gynecological and skin

6 Tskaltubo - Medical and Wellness Spa Resort Tskaltubo is a well-known medical resort and in Imereti region, west Georgia. Being a famous brand in CIS countries, Tskaltubo served huge market of 300 mln. people. Resort is rich with unique thermal waters with rare composition. Tskaltubo s springs are used in complementary healing processes for number of diseases, including cardiovascular, locomotor, nervous, gynecological and skin disorders. Investment field Ownership: 100% State 5 Hotels under privatization Note: The Feasibility study and general master plan of the resort were conducted by the Austrian company Kohl &Partners.

Tskaltubo well connected destination 20 Minutes drive from Kutaisi International

airline WizzAair Direct flights to 16 destination: Berlin, London, Milan,

Thessaloniki, Larnaca, Memmingen, Aktau.

Railway connectivity Tskaltubo has ood connection to the country s main

7 Tskaltubo well connected destination 20 Minutes drive from Kutaisi International Airport Proximity of Georgia's sightseengs Regional base of International airline WizzAair Direct flights to 16 destination: Berlin, London, Milan, Moscow, Kiev, Kharkiv, Dortmund, Warsaw, Katowice, Budapest, Vilnius, Thessaloniki, Larnaca, Memmingen, Aktau. Kutaisi airport served passengers in 2017 (50% y o y growth) Road and Railway connectivity Tskaltubo has ood connection to the country s main transport links: east west highway and railroad. Well developed outdoor infrastructure Outdoor infrastructure was fully renovated by the World Bank project

8 Hotel Imereti Minimum Hotel rooms: 100 Building area: 10,666 sq.m. Land area: 41,150 sq.m. Approx. invest: USD 10 mln.

9 Hotel Savane Minimum Hotel rooms: 80 Building area: 6,796 sq.m. Land area: 14,440 Sq.m. Approx. invest: USD 8 mln.

10 Hotel Filiali Minimum Hotel rooms: 60 Building area: 4,347 sq.m. Land area: 34,023 sq.m. Approx. invest: USD 6 mln.

11 Hotel Megobroba Minimum Hotel rooms: 110 Building area: 104,176 sq.m. Land area: 106,925 sq.m. Approx. invest: USD 11 mln.

12 Holiday Village in Tskaltubo (Ushishroeba) Minimum key number: 250 Land area: 250,768 sq.m. Approx. invest: USD 30 mln.

Undertakings of the Government of Georgia 1.

Franchise/Management agreements for the first 2 years (up to GEL 300,000 annually) 3.

13 Undertakings of the Government of Georgia 1. Marketing campaign for Tskaltubo resort Government of Georgia will support in marketing campaign of the Tskaltubo resort. Government of Georgia will participate in international Spa&wellness forums to raise awareness and attract tourists to the resort. 2. Co financing of Franchise/Management agreements for international branded hotel Government finances Franchise/Management agreements for the first 2 years (up to GEL 300,000 annually) 3. Exempt from annual Casino Fee Investor will not pay annual fee for the operation of Casino in Tskaltubo resort 4. Co investment opportunity from state investment fund Partnership Fund (state investment fund) is ready to discuss participation in project financing up to 50%. 5. Hotel guests will receive service provided by the curing water bathes with equal conditions

Jean-Frederic Paulsen Senior Advisor to the Minister The Ministry of Economy and Sustainable Development of Georgia

Jean-Frederic Paulsen Senior Advisor to the Minister The Ministry of Economy and Sustainable Development of Georgia GEORGIA LAND OF OPPORTUNITIES Bia Investment Forum at Radisson Blu Iveria Hotel 15/05/2018