Hotel proceeds totaled NIS 5 billion in January-September 2006, 10% more than in the corresponding period of 2005, the Central Bureau of Statistics reported today. Revenue from foreign tourists totaled NIS 1.9 billion in January-September, an increase of 11% on the corresponding period, while revenue from domestic tourism rose 12%.
In dollar terms, hotel proceeds were less than expected, because of the shekel’s appreciation against the dollar.
Central Bureau of Statistics data indicate that tourist overnights and hotel revenue from foreign tourists rose steadily until the outbreak of the second Lebanon war in mid-July. This trend reversed during the third quarter. Hotel revenue from foreign tourists fell 28% in the third quarter compared with the corresponding quarter.
Hotel revenue from domestic tourists was unaffected by the war, and third quarter revenue was the same as in the first half of the year.
Hotels currently employ 25,000 people, earning an average gross monthly salary of NIS 5,500.
Published by Globes [online], Israel business news - www.globes.co.il - on December 20, 2006
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006