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Israeli Hotel Industry

Israeli hotel industry revenue takes a dive

Sara Toth Stub  Mar 15, 2010

JERUSALEM - Israel's hotel sector reported revenue of 7.7 billion shekels ($2.08 billion) for 2009, down from ILS7.83 billion in 2008, as tourism fell as a result of the global economic downturn, the Central Bureau of Statistics said Monday.

Hotel revenue produced by tourists fell to ILS3.16 billion in 2009, down 7.8% from ILS3.43 billion the previous year, the bureau said.

The hotel sector provided 25,800 jobs in 2009, compared with 26,300 in 2008, the bureau said. But figures from the fourth quarter indicate the beginning of a recovery in the tourism sector; hotel revenue attributable to tourists was down just 0.7% on the year.

Israeli hotel industry revenue takes a dive

Source: Dow Jones Newswires

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