OREANDA-NEWS. Russia's ban on direct flights with Georgia is likely to affect the economic growth of the Transcaucasian republic and will become an external vulnerability for its sovereignty. This is the conclusion of analysts rating agency Fitch. The cessation of flights between the two countries will affect the external financing that has come in recent years through tourism. In recent years, tourism in the country has grown significantly, reaching about 7.5% of GDP and 70% of total service exports in the previous year. He contributed to reducing the large deficit in the country's budget. That is why, analysts say, the reduction of income from Russian tourists arriving in the country may prevent this trend.

The share of Russian tourists in the total mass of visitors to Georgia on vacation was 20.9%. Russians mostly come to Georgia by car, and the reduction in their number this season can be partly offset by an increase in the number of tourists from other countries, for example, from Azerbaijan and Armenia.

Russia isn't the main source of foreign direct investment for Georgia, accounting for 5% of total FDI last year. Nevertheless, a decrease in tourist flow, combined with possible lower FDI compared with last year, represents a risk to forecasts for Georgia’s GDP growth. This will increase the already large needs of the republic in foreign borrowing and will affect the rate of the national currency - lari.

Starting next week, July 8, the ban on flights between Russia and Georgia will come into force. He was introduced by President Vladimir Putin and simultaneously ordered the government to take out Russian tourists after mass protests in Tbilisi. The reason for these actions was the incident that occurred during the visit of the State Duma deputy from the Communist Party of the Russian Federation Sergey Gavrilov to the Georgian parliament. During the meeting of the Inter-Parliamentary Assembly of Orthodoxy, he sat in the chair of the speaker, which caused dissatisfaction with the opposition deputies.