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Journal number 3 ∘ Aytakin Akhundova


Expanded Summary 10.36172/EKONOMISTI.2023.XIX.03.AYTAKIN.AKHUNDOVA Event tourism is one of the most rapidly developing segments of the tourism industry. It brings together people who seek to attend events and gatherings in different parts of the world to enjoy a unique experience and create unforgettable memories. Moreover, event tourism provides tourists with a unique opportunity to immerse themselves in the atmosphere of the event and get acquainted with local culture and traditions. The distinct feature of this type of tourism is its inexhaustible content, with new events becoming regular fixtures each year, evolving from being one-off occurrences. However, despite the widespread popularity of event tourism, its establishment and growth depend on various factors that interact and influence its success. These factors encompass a wide range of aspects, including the development of cultural and entertainment industries, infrastructure, marketing efforts, cooperation and
Journal number 3 ∘ Ramzi Elbrus Abdullayev

The impact of the development of rural tourism in Azerbaijan on the social and economic sphere

Summary 10.36172/EKONOMISTI.2023.XIX.03.RAMZI.ELBRUS.ABDULLAYEV Effective use of tourism has a special place in the development of the economy of the Republic of Azerbaijan. Problems arising in the field of efficient use of tourism in the Republic are a cause for concern. In the article, the importance of the development of this field is emphasized, along with the directions of the impact of the development of rural tourism on the social and economic sphere. The article shows the use of tourism in the economic development of the Republic of Azerbaijan and the existing problems in this field, as well as the importance of international experiences. At the end of the article, in addition to showing the existing problems in improving the impact of the development of rural tourism on the social and economic sphere, suggestions for the development of the tourism sphere were given. Key words: tourism, rural tourism, global economic crisis, concept of sustainable development, health
Journal number 3 ∘ Tsira Tsetshtladze Natia Beridze

Challenges in mountain regions and peculiarities of tourism developmen

Annotation. In the scientific article "Challenges in mountainous regions and peculiarities of tourism development", significant attention is paid to the peculiarities of tourism development in Georgia, especially before the pandemic, during the pandemic and post-pandemic periods. Attention is focused on the main features that accompany the development of tourism in mountain regions. Key words: mountain tourism, post-pandemic period, recreational tourism. Introduction Tourism is one of the promising branches of the economy for Georgia. Its priority from an economic or social point of view has a particularly positive impact on the standard of living and daily life of the local population. Tourism became a special priority for Georgia in the post-mandemic period. The fact that our country is still new and completely unexploited in terms of tourism opportunities, gives us the prerequisite to introduce new tourist destinations to both the domestic and international markets. This is
Journal number 3 ∘ Ketevan Kveladze Nunu Kistauri Medea Melashvili

Prospects for the development of wine tourism in Georgia

Expanded Summary 10.36172/EKONOMISTI.2023.XIX.03.Ketevan.Kveladze/Nunu.Kistauri/Medea.Melashvili The World Tourism Organization - UNWTO has declared 2020 the Year of Agricultural Tourism Development. It announces various news in many parts of the world, including Georgia. The Georgian Farmers' Association launched a new innovative project "Promoting the Development of Agritourism in the South Caucasus" in July 2020, which is implemented in cooperation with all three partner countries in the South Caucasus. The aim of the project is to develop agro-tourism in the South Caucasus countries and identify dynamic agro-tourism farms. 25-25 beneficiaries in the field of agro-tourism have already been selected in each country. The project covers all tourist regions of Georgia. With the support of the National Tourism Administration - Heifer international Georgia implements the EU-co-financed project "Promoting Innovative Rural Tourism in the Black Sea Basin Region". The project includes
Journal number 3 ∘ Revaz Javakhishvili

Japans strategy for sustainable and secure economic development

Expanded Summary 10.36172/EKONOMISTI.2023.XIX.03.Revaz.Javakhishvili In the absence of appropriate natural-resource factors, Japan was able to realize in a historically short period of time, by taking the correct socio-economic development course and implementing appropriate economic reforms, an unprecedented revival of the countrys economy, which is known in history as the "Japanese miracle". However, since the 90s of the last century, its economic development has experienced serious fluctuations and difficulties, which is why a new long-term strategy of economic growth has been developed, which is focused on ensuring the sustainable and safe development of the country. The strategy is complex and includes three specific action plans: 1. Japan's industrial revitalization plan, the main directions of which are: accelerating the implementation of strategic reform programs; reforming the labor market and developing human resources; promotion of scientific-technical and
Journal number 3 ∘ Givi Bedianashvili Murman Tsartsidze Nino Mikeladze Zviad Gabroshvili

Modern globalization, human capital and economic growth in Georgia:macro aspect

Expanded Summary  10.36172/EKONOMISTI.2023.XIX.03.Givi.Bedianashvili/Murman.Tsartsidze/Nino.Mikeladze/Zviad.Gabroshvili  In the modern global environment, the problems related to human capital and economic growth are gaining special importance. First of all, it is necessary to reveal the specificity of the globalization process itself, which determines the features of the functioning and development of the socio-economic systems of the world and individual countries, new requirements and challenges for human capital in the context of economic growth. In addition to the already existing features of globalization, it is necessary to take into account the specifics of small countries. The research showed us that it is acceptable to take into account that small countries are distinguished by different mechanisms of functioning and the development of socio-economic systems. The purpose of this study is to systematically analyze the relationship between human capital and
Journal number 3 ∘ Shota Veshapidze

Modern priorities of ensuring foreign economic security of Georgia

Expanded Summary  10.36172/EKONOMISTI.2023.XIX.03.Shota.Veshapidze Economic security is one of the most important features of the economy, and ensuring the safe functioning of the country's economy is a necessary condition for its competitive and sustainable development. It is important to systematize conceptual approaches to ensuring external economic security in the context of global risks and threats. Basic approaches to the concept of economic security of the country and methods of fighting it are defined by different concepts. Among them, the institutional concepts of protection against cameralist, Keynesian and administrative barriers are noteworthy. Foreign competitors (according to F. Liszt), "market failure" (according to J. M. Keynes) and "state failure" (according to H. De Soto) can pose threats to the economic security of each country. Different strands of foreign trade policy are important, including mercantilism, protectionism, free trade, super-protectionism,
Journal number 3 ∘ Giorgi Miqeladze Mariam Okruashvili

Asymmetry of economic development of Georgia

Expanded Summary The article discusses the asymmetry of the development of the Georgian economy in terms of territory and the main sources of financing the economic policy of the self-governing territorial units: the budget, central budget assistance, and the support fund of international donor organizations. The aim of the paper is to assess the current situation at the level of relatively small territorial units of the country based on relevant empirical data and determine the necessary statistical characteristics through which it is possible to estimate statistically reliable indicators of the standard of living. Based on the statistical analysis of the main economic characteristics, the article substantiates that the volume of public goods at the regional level of Georgia is very different. This is supported by the following facts: 1) Based on the analysis of statistical characteristics, it is determined that the values of the main economic indicators at the regional level are
Journal number 3 ∘ Sulkhan Tabaghua

Assessment of Economic Growth Determinants on the Example of Transition Economies (extended model)

Annotation. Economic growth has long been used as a measure of the socio-economic welfare of the country. Economic growth is impacted by various factors, and is defined as a complex process with many determinants. The aforementioned circumstance is supported by the example of transitional economies, where the cyclical nature of economic growth in the context of economic transformation has historically been the most acute. The majority of these countries are still engaged in the implementation of relevant reforms for the development sustainable market economy. It is proposed within the framework of this study to evaluate the main determinants of economic growth (e.g. inflation, structural reforms, government spending, investments, price liberalization, trade and exchange regimes, market entry rate (competition policy), and privatization). Using a comprehensive model based on data from 1996 to 2014 for 25 transition economies. According to the outcomes of the research: the majority
Journal number 3 ∘ Paata Koguashvili Joseph Archvadze

regional and sectoral orientations of food production

Expanded Summary Food security is one of the most important components of the national security of Georgia. In its provision, together with the political and resource potential, the regional aspect plays an ever-increasing role, which takes into account local conditions, production specialization and culture, the most important component of a sufficient number of production forces with the appropriate profile and experience - the workforce, the latter's interest, motivation, attraction and retention. At the level of the region, the validity, rationality and effectiveness of the official decision are revealed. In this direction, despite the obvious forward steps taken in Georgia in recent years, there are systemic shortcomings that prevent the situation in which, on the one hand, the country's food security is still quite vulnerable to external risks and challenges, and on the other hand, it leads to the status of the most "weakest link" of the non-prestigious economy for agriculture
Journal number 3 ∘ Tengiz Verulava Avtandil Jorbenadze

Assistance of the United States of America in the development of the health care system of Georgia

Expanded Summary  10.36172/EKONOMISTI.2023.XIX.03.Tengiz.Verulava/Avtandil.Jorbenadze The contribution of the American people and the government to the construction of Georgia's statehood, its democratic, economic and social development is invaluable. Also, the merit of the USA in bringing Georgia's health care system out of the crisis in the first years of independence, and in its subsequent reformation and development, is also very important. During this extremely difficult period, with the help of the USA, many people were saved from hunger, illness, death and their health conditions improved. American aid to Georgia can be divided into three stages: humanitarian aid (medicines and medical consumables), technical aid (bringing new directions of medicine to the country, raising the education of medical personnel and society, promoting the development of the health care system (with various US organizations, foundations, scientific research institutions Doing joint projects,
Journal number 3 ∘ Lali Chagelishvili-Agladze Maya Gonashvili Ketevan Archaia

Modern challenges and a Conceptual Model of Georgias Health Development

Summary 10.36172/EKONOMISTI.2023.XIX.03.Lali.Chagelishvili-Agladze/Maya.Gonashvili/Ketevan.Archaia The agreement on the cooperation of the sustainable development of the United Nations in 2021 - 2025, is the first strategic priority for the well-being of a person who, along with material well-being, education and social protection, takes care of his health. The right of all people is health, and its provision is primarily the prerogative of the state.  The vectors of the Georgian health care system are considered in three main directions: ensuring universal health; implementation of alternative health financing models; Reproduction of sustainable development models of the health field.  In order to ensure the main right and health of a person, it is necessary to establish a system that will be equally accessible to all strata of society, and most importantly, quality health services will be provided for them for this purpose, in 2013, a reform in the field of health of
Journal number 3 ∘ Rusudan Kvaratskhelia Levan kikilashvili Maia Benia

Green economy as a leading force of sustainable development in Transcaucasia - in economic, social and environmental aspects

Annotation.Transcaucasia, a crossroads of Europe and Asia, has always occupied a key place in international economic, social and political relations. Today, more than ever, it is necessary to give a new meaning and function to the region. Against the backdrop of global environmental challenges such as climate change, ecological degradation and economic inequality, a green economy has emerged as a promising approach to solving multi-level problems. In the article, we tried to investigate the potential of the green economy as a new paradigm of sustainable development in Transcaucasia; What is the current economic situation, and what are the barriers to the transition to a new paradigm? What are the stages to be passed for the region to establish its unique niche in the face of globalization and increased competition? How to share the success models of other countries? What positive impact will introducing innovative approaches have on economic, social and environmental protection?
Journal number 3 ∘ Elisabed Baliashvili

Constituent elements of personnel policy system and its regulation in Georgian tourism and hospitality industry

Expanded Summary Tourism and hospitality in the modern world and among them, in Georgia, has become one of the strong, important income-generating economic sectors for the country. This means that the industry presented today is a priority area of the economy, and the countrys government and, in particular, the companies in this area, should take care of its systematic development, in the light of highlighting the peculiarities of tourism, developing the right personnel management policy and its effective regulation. The activities of the personnel of our country, regardless of the field in which they are employed, are primarily regulated by the governmental documents of Georgia and the relevant legislation regulating the field. The tourism and hospitality industry is a very specific field, as the personnel working in it, unlike those employed in other economic sectors, are required to have distinctive qualities. It is they who must create such a cohesive team of high
Journal number 3 ∘ Saftar Valizada Vali

The budget policy and structure of the state budget of Armenia

Summary The article first reviews the structure and structure of the budget system of the Republic of Armenia and draws attention to the law on which the budget policy is implemented. In this part, the structure and sources of formation of the state budget and municipal budgets of Armenia are also brought to attention. Then, in order to understand the nature of Armenia's budget policy, the dynamics of budget revenues and expenses, as well as the budget deficit in the last ten years, are reviewed. After that, the structure and dynamics of the budget expenses are analyzed in different directions and the directions where the most expenses are incurred are determined. Based on this, the economic, political and social reasons for allocating more expenses to these directions are determined. Keywords: Armenia's budget system, Armenia's state budget, Armenia's budget expenditures, Armenia's budget. Introduction One of the main indicators reflecting the bad progress and negativity of the
Journal number 3 ∘ Beka Patsatsia Nino Kharebava David Jalagonia

Examining Public Procurement Success: The Impact of Competition on Efficiency in Georgian Public Procurement

Annotation.This article investigates the relationship between competition and the efficiency of public procurement contracts in Georgia across four key sectors: information technology, healthcare, agriculture, and oil. The study aims to analyze the influence of competition among bidders on the efficiency of public procurement contracts in Georgia. Drawing on a comprehensive dataset of procurement tenders, the analysis examines various quantitative factors that influence the efficiency of public procurement. These factors include the number of bidders, received bids, contract size, distance from the project site, announcement period. Additionally, the study examines the industry and procurement method and their influence on the number of competitors. This study employs a diverse array of statistical methods to investigate public procurement processes based on a dataset of 240 observations from the State Procurement Agency's e-system spanning 2021-2022.The research involves data
Journal number 3 ∘ Medea Kharaishvili

Human capital factor in economic course andEmployment policy challenges

Summary The article assesses the factor of human capital in economic development. The needs of employment policy in Georgia have been identified. The sources of the formation of this capital have been studied to explain the impact of the human capital factor on economic growth. The human capital is analyzed as determining factor of economic growth, innovative development and competitiveness of the national economy Based on the study of various aspects of human capital theory, it is argued that modern economics requires a significantly higher degree of human capital. Based on these requirements, the modern views of scientists on the impact of human capital on economic growth are discussed. Considering the human capital factor, the need to develop effective economic policy mechanisms for employment is justified. The paper draws conclusions and develops recommendations on effective impact on the economic development of the human capital factor and the development of employment
Journal number 3 ∘ Rusudan Sreseli

Important Issues of Preparation and Presentation of Internal Audit Results

Expanded Summary Internal audit is of great importance as it verifies the accuracy and reliability of financial statements. Credibility is the most important requirement for business success. Therefore, if there is corruption or possible financial violations in the company, this may be the reason for its final failure and closure. The basis for this is that partners and investors can easily leave the company, which will lead to its instability and, ultimately, dissolution. However, through an internal audit, the companys management can determine whether the companys finances are at risk or whether everything is in order. Consequently, this helps the company gain trust and investment from a number of stakeholders. Internal audit is extremely important for the companys success, as it minimizes risks. The internal audit takes into account all the risks identified in the company. In addition, it checks whether the companys risk mitigation strategy is working as expected and planned.
Journal number 3 ∘ Nino Gongadze

Heliculture and consumer attitude study in Georgia

Expended Summary Heliculture, the practice of snail farming, has gained significant attention in recent years as a viable and sustainable agricultural activity. Snails are not only a delicacy in many cultures but also a rich source of protein and essential nutrients. In Georgia, the potential for heliculture as an emerging industry is evident, given the country's diverse natural resources and agricultural landscape. While precise details about the history of snail farming in Georgia are not readily available, snails have been consumed as food in the region for centuries. In Georgia, the consumption of snails can be traced back to ancient times. Snails were considered a delicacy and were included in traditional cuisine. They were typically collected from the wild rather than being farmed systematically. The commercial snail farming industry in Georgia is still in its early stages of development. As the industry evolves, efforts are being made to establish snail farms that breed and
Journal number 3 ∘ Ketevan Gudushauri

Activities of the State Audit Office of Georgia and the status of the implementation of the recommendations

Summary In the 90s of the 20th century, Georgia was able to gain independence for the second time. Throughout its 70-year history, the country's economy was actually managed only centrally, and Georgia formally participated in its formation. Accordingly, at the end of the 20th century, Georgia faced without mechanisms and adequate institutions for the formation of economic policy, which is necessary for the independent state. Integration of the country in the world system, the formation of the functions of the state, are directly related to the proper activity of the higher authorities, implementing state financial and economic control. In the article, is studied financial control at the state level, is analyzed the activity of the State Audit Office of Georgia and The main disadvantages that are intersect in terms of financial control of budgetary institutions, have been identified and recommendations are given for solving negative aspects. The main aspects of state financial
Journal number 3 ∘ Giorgi Tchotchua

Landscape diversity of Georgia and perspectives of sustainable tourism

Summary The essay examines sustainable tourism prospects in Georgia, a country with different landscapes ranging from mountains to the sea, as well as a high variety in terms of flora and fauna. It emphasizes how these natural treasures can positively contribute to the country's long-term destiny and society. Georgia can exploit its natural beauty to achieve economic benefits while protecting its environment and cultural heritage by supporting responsible tourism practices.This method not only helps to preserve the country's beautiful landscapes, but it also improves the quality of life in local communities, promotes cultural interchange, and promotes environmental conservation. Georgia has the opportunity to develop a harmonious relationship between its natural resources, tourism sector, and the well-being of its people for years to come through a well-managed and balanced approach to tourism. The collaboration between UNESCO and the Protected Areas Development Fund of Georgia