Published on : Thursday, September 5, 2019
However, over the past one year, after U.S. President Donald Trump withdrew from the Iran nuclear deal and announced economic sanctions against Tehran, Iranian currency, rial, has witnessed a sharp tailspin, losing its value against the U.S. dollar by almost threefold.
Foreign tourist arrivals in Iran has grown a lot in the last one year, which is indeed good news for the tourism industry; hotel rates have dropped drastically and travelling costs have reduced.
As per a recent study by World Travel and Tourism Council (WTTC), Iran’s travel and tourism sector grew by 1.9 percent in 2018 contributing 1,158 trillion rials ($8.83 billion) or 6.5 percent of overall GDP and 1,334 jobs (5.4 percent of total employment) to the country’s economy.
“The development of tourism infrastructure, the considerable volume of investments in the tourism sector, the issuance of electronic visa and visa waiver for select countries are the main reasons behind it,” said Ali Asghar Mounesan, the head of CHTO.