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Published on : Friday, November 23, 2018
Motivated by record-breaking incoming tourism expected to top 4,000,000 visitors in 2019 and opportunities presented by a shortage of accommodation for tourists to Israel, tourism leaders were provided with an analysis of foreign investment opportunities in Israel’s hospitality sector.
The Minister of Tourism Yariv Levin said, “Let’s do business,” presenting a range of incentives and simplified regulations for businesses that are aiming to enter the local market.
Levin said, “For the first time in Israel, we have gathered in one place property owners, investors, hoteliers and representatives of hotel chains. This, with the sole purpose of promoting the rapid establishment of thousands of hotel rooms throughout the country. Israel is at the height of a tremendous momentum in tourism. We have already surpassed the number of tourists who arrived during all of 2017.”
Levin said that almost 40% increase in tourism in two years was due to unprecedented government investment in marketing Israel around the world, implementation of advanced innovative marketing methods, as well as extensive cooperation with both tourism agents and dozens of airlines from around the world.
More than 7,500 hotel rooms are currently under way across the country, including over 2,000 rooms in Tel Aviv, marking a 26.2% increase in the city’s existing supply. Rooms in Jerusalem are currently contracted to increase by 14%, in Haifa by over 50% and in Eilat by almost 6%.