QUESTION: What business makes more money in Tbilisi, Georgia?

I made several investments in Georgian businesses, and if you had asked me 4 years ago I would have been very positive and optimistic. Now not so much.

The real estate prices have been crushed by the Georgian government and people reversing their open attitudes towards foreigners. Although the prices are very low, it might be a long time before the prices go back up again, and even then I suspect it may only be in certain locations. Be careful.

Operating a business in Georgia is a nightmare — the rules seem nice enough but they are constantly changing the rules. It would be better to have bad rules that stay the same then constantly changing rules that no one knows how to deal with.

The visa rules are also constantly changing. You can be approved for a 6 month visa to start a business, invest a lot of money, and then have the government deny your renewal visa and force you to leave with nothing. I have known a number of guys who suffered this. Yes, Asians suffer more from this but I know of a German guy who invested hundreds of thousands of dollars and who cannot renew his visa now.

As for AirBnB don’t do it. I started 4 years ago, and I wish I had kept my money in my pocket. The market is glutted with low quality low cost apartments (which would be ok if you are…