Georgia's IT sector revenues fall by 12%

The National Bank of Georgia has published data on the country's IT sector revenues. According to the financial regulator, information technology revenues fell by 12% over the past year.

It is reported that the country's IT companies earned just under $700 million in a year. This is $96 million less than the 2023 figures.

It should be noted that in 2023, companies involved in the sofware development earned a record $784 million. The result was attributed to the influx of IT specialists from Russia, Ukraine, and Belarus.

The Georgian Ministry of Economy previously reported that startup companies from the republic will have the opportunity to present their products in a technology hub set to open this year in the USA.