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Featured Economic Papers

Recovery of the Tourism Sector Following Operation Protective Edge

June, 2015
 

The recovery in the number of incoming tourists to Israel, following the sharp decline that occurred during last summer’s Operation Protective Edge, has ceased recently.
 

Incoming tourists to Israel equaled 2.93m in 2014, 86% of which entered via air.  The number of incoming tourists in 2014 was similar to the number in 2013, this despite Operation Protective Edge, which occurred in July-August of last year and caused a sharp decline (of about 40%) in the number of incoming tourists compared to the month preceding the military operation.  In research conducted by the Bank of Israel (BoI) it was found that the loss caused to tourism sector exports as a result of the military operation amounted to an estimated sum of NIS 2bn in 2014 (0.2% of annual GDP).  Nevertheless, the BoI estimates that local tourism was not hurt any more severely than the damage caused from the Second Lebanon War (July-August 2006). 
 

  

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