Russians transferred more than two billion dollars to Georgia in an hour

In 2022, Russians transferred more than two billion dollars to Georgia, a total of 4.3 billion dollars came to the country from abroad. RBC writes about this with reference to the statistics of the National Bank of Georgia.

Russia took first place in the volume of transfers from abroad. In second place is Italy (431.6 million dollars), in third place is the USA (326.3 million dollars).

In 2021, 411.4 million dollars came from Russia to Georgia. Thus, the inflow of funds increased approximately five times.

In addition, according to the Ministry of Justice of Georgia, in 2022, more than 12,000 Russian citizens purchased 15,000 real estate properties – mostly residential apartments and houses. About four thousand Russians registered their property rights a year earlier. They bought about four thousand real estate objects.

Last year, Russians also became the main buyers of real estate in Dubai. According to Betterhomes analysts, previously Russians were a niche group in the Dubai market, but the demand for housing increased sharply after the beginning of the Russian military invasion of Ukraine. Russian buyers bypassed the traditional leaders – Great Britain, India and Italy.

• After the start of the military invasion of Ukraine, hundreds of thousands of citizens left Russia. The first wave of departures began after Vladimir Putin announced a “special military operation” on February 24. Georgia has become one of the most attractive countries for Russians thanks to the visa-free regime and the ease of obtaining a residence permit.
• The second wave followed the announcement in Russia on September 21 of the mobilization of reservists for military service in Ukraine.
• At the end of October 2022, the Ministry of Internal Affairs of Georgia reported that there are more than 112 thousand Russian citizens in the country who arrived from January to September.