Strategies for Mitigating Financial Leakage: Main Directions of Georgia’s Tourism Industry

Abstract

Tourism is a vital economic driver for countries worldwide, fostering growth and diversi-fication across various sectors. However, the issue of financial leakage poses a significant challenge, particularly for countries heavily reliant on imports. This article delves into the strategic direction required to mitigate financial leakage in the Georgian tourism industry. The study identifies rural and gastronomic tourism as promising avenues for addressing this challenge through a comprehensive methodology encompassing in-depth interviews, statistical analysis, and literature review. By lever-aging Georgia’s diverse culinary heritage and distinctive cuisine, these alternative tourism forms pro-mote local products and services and offer tourists authentic experiences. The research underscores the growing global preference for authentic and unique tourism experiences, aligning with the shift towards locally sourced, high-quality offerings. Through strategic initiatives focused on rural and gas-tronomic tourism, Georgia can differentiate itself as a leading destination while ensuring equitable dis-tribution of tourism benefits within local communities. This study contributes to the broader discourse on sustainable tourism development, emphasizing the importance of local resources, traditions, and community involvement in shaping the tourism landscape.