ეკონომიკური პროფილი

In recent decades, Georgia has achieved solid economic growth through reforms, improved infrastructure, and closer ties with the European Union, which has also supported progress in digital sectors like finance and IT. However, the country still faces a shortage of skilled professionals, as its human capital lags behind EU standards and higher education programs remain limited in scope and quality. Paper reviews the state of digital-related higher education in Georgia, identifies key challenges, and suggests directions for future policy.

The purpose of this paper is to analyze the major geopolitical and geoeconomic changes shaping today’s world and to identify the trends that will determine global political and economic transformations over the coming decade. Due to the scale, complexity, and hypothetical nature of the issue, the paper will be limited to a general discussion of the subject and an outline of the main trends of future development. In reality, the geopolitics of the 21st century began in the 2020s. The previous two decades represented the automatic and gradually diminishing continuation of the world order established after the end of the Cold War, namely the further development of the key characteristics of the final decade of the 20th century: the political, military, and economic hegemony of the United States; Europe’s gradual movement toward integration; the rapid growth of China’s economy; and the expansion of the liberal global trading system. The global events of the last five years have transformed the current political reality of the world: 1. the Russia–Ukraine war; 2. the transformation of China’s economic potential into a powerful military and political resource; 3. the change in the United States’ approach toward NATO member states. Alongside geopolitical transformations, significant geoeconomic changes are also taking place. These processes are closely interconnected and strongly influence one another. The period under review has demonstrated that ongoing geoeconomic transformations in the world are driven by three major trends: (1) China’s expanding economic presence, which compels developed countries to partially shift from a liberal global trade policy toward economic protectionism; (2) the objective decline in the relative importance of the United States in the global economy, marking the end of its century-long economic hegemony, while still maintaining its position as a leader or at least as primus inter pares; (3) technological transformations and the advancement of artificial intelligence, which are expected to fundamentally reshape economic relations at both the macro and micro levels. Those who achieve success in this domain will, figuratively speaking, trigger the Fourth Industrial Revolution. Just as the First Industrial Revolution gave rise to 19th-century Britain as the leading global power, and the Second and Third Industrial Revolutions established the United States as the dominant force of the 20th century, leadership in this new technological era will largely determine the trajectory of global economic development in the 21st century.

This study assesses the economic role of Traditional Ecological Knowledge (TEK) as an informal institution in Georgia’s agricultural sector and examines how it is transformed into economic outcomes through creative management. The research employs a mixed-method approach with a comparative design (Eastern vs. Western Georgia). Data were collected through semi-structured interviews and questionnaires conducted among small and medium-sized family farms. TEK is operationalized using indirect indicators, including production diversification, collective labor practices, and trust-based relationships. The findings indicate that the economic role of TEK varies significantly with the level of market integration. In Western Georgia (low integration), TEK is associated with income stability (H1) and cost reduction through collective action (H2). In Eastern Georgia (high integration), TEK-based products achieve price premiums (H3a); however, this is accompanied by increasing standardization and a reduction in practice diversity (H3b), reflecting a tension between economic efficiency and adaptive diversity. Traditional Ecological Knowledge functions as a context-dependent economic resource. Its full replacement is suboptimal; instead, adaptive integration with modern management practices represents a more effective strategy, provided that the negative effects of standardization are mitigated.

This study examined the role of the estimated cash budget in financial decision-making at the Hadjar Essoud Cement Company in Skikda. This was accomplished by analyzing variances in the estimated cash budget. To assess its role in rationalizing financial decision-making, interviews were conducted with several employees and department heads within the company as a means of collecting the necessary information. One of the key findings of this study is that the company’s reliance on the estimated cash budget has yielded significant benefits, particularly in ensuring liquidity and enabling the company to make appropriate and timely financial decisions.

This study examines the urban parks within the city limits of Kutaisi. The significance of the topic lies in Kutaisi’s rapid urban growth, where green spaces serve not only as recreational areas but also as vital resources for public health and quality of life. Moreover, urban parks play an essential role in sustaining ecological balance. In this paper, we attempted to provide a detailed analysis of the potential of Kutaisi’s main urban parks—namely the Botanical Garden, Central Park, Mukhiani Park, Gabashvili Park, and Youth Park—in the development of tourism. For this purpose, we relied on the works of prominent scholars such as Vakhushti Bagrationi, O. Chkheidze, V. Jaoashvili, N. Berdzenishvili, among others, as well as materials. In Kutaisi, green spaces (parks, squares, lawns, etc.) cover approximately 442.8 hectares. In addition, there are about 700 hectares of forested areas surrounding the city. Altogether, this amounts to nearly 1,140 hectares (11.4 km²) of green space. If we consider only the urban area, this translates to 34 m² per person (4,428,000 ÷ 130,000). By comparison, the same indicator in Europe ranges between 18–35 m² per person. These areas, however, are unevenly distributed. At the end of the 20th century, the green space of Kutaisi amounted to 252 hectares. Although Kutaisi’s green space provision is adequate in quantitative terms, the key issues lie in quality, spatial distribution, and accessibility. In contrast, Tbilisi offers only 5–10 m² of green space per capita, whereas Vienna demonstrates exemplary urban greening with 120 m² per person. Thus, while Kutaisi’s quantitative indicators are comparable to European standards, the city still requires substantial enhancement in the quality and equitable distribution of its green areas. Kutaisi’s principal green spaces consist of the parks analyzed in this study, situated within the city’s historic core and central districts. In contrast, the suburban areas, particularly the Auto Factory settlement and Nikea Street, exhibit a marked shortage of green infrastructure. Kutaisi’s green spaces encompass both historic gardens and parks as well as newly developed recreational zones. Among the most significant are the Botanical Garden, Central Park, Mukhiani Forest-Park, Gabashvili Park, and Youth Park. Yet, the city’s historic 'Royal Quarter' is distinguished by a centuries-old plane tree, regarded as one of Kutaisi’s most iconic symbols. This site uniquely blends natural beauty with historic architecture and remnants of the royal residence. While its exact age is undocumented, local tradition holds that the tree was already present in the 18th–19th centuries. Beyond its status as a natural monument, the plane tree embodies Kutaisi’s urban memory, serving as a traditional gathering place for residents and visitors alike. It is thus frequently described as 'the living history of Kutaisi. In recent years, the Municipality of Kutaisi has been implementing the 'Eco-Smart City' project, which aims to develop green infrastructure in line with European standards through sustainable ecology and the use of innovative technologies. The project is supported by the European Union (EU) and the United Nations Development Programme (UNDP). The concept of the 'Eco-Smart City' focuses on urban development, the creation of an environmentally clean environment, and innovative solutions. Energy efficiency, sustainable urban development, and the improvement of quality of life are the project’s main objectives. The initiative involves designing green and smart solutions tailored to Kutaisi, financed by €225,000 allocated by the European Union. The plan outlines specific steps toward building an eco-city, including: • Promotion of green mobility, • Expansion of renewable energy use, • Development of energy-efficient technologies, • Improvement of water and air quality, • Sustainable waste management and care for human well-being. Kutaisi’s urban parks possess considerable potential for advancing recreational tourism. Nonetheless, challenges remain in expanding the number of small green squares, modernizing infrastructure, improving services, and raising international visibility. A carefully designed strategy could transform these parks into spaces that serve not only local residents but also constitute a vital component of the city’s tourism experience.