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Economic Reports

Investors' Review

Issue No. 123
February 2015

Israel Macro Economic Review


Russia’s economic situation is likely to hurt the trend of improvement since the end of Operation Protective Edge in overnight hotel stays by overseas tourists.

The number of overnight stays in Israeli hotels equaled 22m in 2014,
representing a 1.5% decline compared to 2013. The number of overnight
hotel stays by foreign tourists decreased 5.7% during the period, whereas
hotel stays by Israelis increased 1.8%. The decline in the number of
overnight hotel stays by foreign tourists last year is explained by Operation
Protective Edge, which occurred in July – August. When examining
the number of overnight hotel stays in the months before the fighting
(January – June), it can be seen that during this period a substantial
increase of 16% occurred in the number of overnight stays by foreign
tourists; therefore, it can be concluded that if it were not for the military
action, the overall number of overnight hotel stays in 2014 would have
been significantly higher than in 2013. 


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