Israel hotels experiences massive tourism boom

Published on : Saturday, August 24, 2019

A “lull in geo-political turmoil” and an increase in the number of visitors helped hotels in Israel to attain new performance records last year, according to a new report by global hotel consultancy HVS.

 

Tourism Boom
The state has witnessed major growth in its tourism in recent years, with visitor numbers rising 14 percent between 2017 and 2018, from 3 million (a record) to 4.12 million (a new record). The country reported 1.9 million visitors as of June, compared with 1.75 million during the same time last year. In May, 440,000 tourists entered Israel, a rise of 11.3 percent over the previous year and a 26.8 percent growth compared with May 2017, according to data from the Israel Ministry of Tourism.

 

At the same time, hotels all over Israel reported a 6 percent rise in revenue per available room last year, driven mainly by a “healthy rise” in average room rates.

 

In the world, Jerusalem is one of the oldest cities and Tel Aviv, the country’s financial capital, witnessed the biggest improvements, with room nights up 10 percent and 7.2 percent, respectively.

 

“The expanding number of air routes and the celebration of the 70th anniversary of the establishment of Israel contributed to the sharp increase in incoming tourists last year,” said Lionel Schauder, senior associate with HVS. “Total demand slightly outpaced rooms-supply growth between 2014-2018, and over the past three years that gap has increased with rooms supply growing by 2.9 percent and demand increasing by 6.7 percent, highlighting the strong potential of the country and the need for additional accommodations.”

 

otal demand growth slightly outpaced rooms-supply growth between 2014 and 2018; however, the same comparison over the past three years indicates a much larger gap, with demand increasing 6.7 percent year over year and room supply growing 2.9 percent, the data show. HVS suggests this highlights the “strong potential of the country” and its need for additional accommodations, especially at the budget end of the spectrum.

 

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