The crossroads capital in its record year: 5.52 million tourists, the airport past five million for the first time, the Baku train back after six years — and a hotel market where supply is finally pressing the rate. Eight studies, one hub.
Tbilisi enters the TIO metropolis series as the Caucasus hinge at full volume: Georgia closed 2025 with a record 5.52 million international tourists (+8.4%), spending reached ₾15.0 billion, and the capital took 3.77 million of all international visits — two trips in three.
The gateways are compounding: Tbilisi International passed five million passengers for the first time (5.4 million, +13%), TAV extended its concession to 2031 with a ten-million capacity build-out, and in May 2026 the first passenger train in six years ran from Baku as the Baku–Tbilisi–Kars corridor finally opened to travellers.
The hotel market is the counterweight: branded occupancy recovered to 60% in 9M25, but average rates slipped 6% to $85 as the room count keeps multiplying — Georgia’s supply has grown 1.5 times since 2019. The Telegraph (239 keys, the region’s first Leading Hotels of the World member) opened in September 2025; Radisson Blu Central Park Towers follows in 2026.
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