On April 16, the ISET Conference Hall hosted an insightful and thought-provoking public lecture by strategy consultant Levan Nadibaidze, titled “Potemkin Growth: Why Georgians Are Rushing for the Exits Amid Increasing GDP, Growing Exports, and Falling Unemployment.”
Despite Georgia’s strong macroeconomic indicators—including a doubling of real GDP between 2010 and 2024, a fourfold increase in exports, and a notable drop in unemployment—Nadibaidze challenged the notion that these statistics reflect broad-based prosperity. Instead, he spotlighted a paradox: why are so many Georgians leaving the country at a time of apparent economic success?
In a data-rich and engaging presentation, Nadibaidze argued that Georgia’s economic growth has not translated into sufficient job creation, especially outside Tbilisi and Batumi. While average real wages have increased, he emphasized that economic opportunity remains limited and unevenly distributed. According to him, the real unemployment rate may be closer to 32%, with large portions of the population either underemployed or disengaged from the labor market altogether.
The lecture concluded with a lively Q&A session that drew active participation from students, faculty, and members of the policy community.
Levan Nadibaidze is a Tbilisi-based strategy consultant with a global portfolio. Formerly of McKinsey & Co. in New York, now leads a Tbilisi-based consulting practice and has advised global organizations including the World Bank, EBRD, and Bloomberg Philanthropies.
