Israeli gov't to provide NIS 300m aid to hotels

Tel Aviv hotels  / Photo: Eyal Fischer, Globes

Israel's tourism and hotel sector will receive aid worth NIS 300 million, Minister of Finance Yisrael Katz and Minister of Tourism Asaf Zamir have announced.

Israel's tourism and hotel sector will receive aid worth NIS 300 million, Minister of Finance Yisrael Katz and Minister of Tourism Asaf Zamir have announced. The two ministers met with representatives of Israel's hoteliers who set out the difficulties facing the sector and the severe blow they have suffered. Israel's borders were closed to foreign tourists in March when almost all Israel's hotels closed down, putting most of their employees on furlough, and many have yet to reopen. In Tel Aviv and Jerusalem, overseas tourists provide most of the business for the hotels.

With the lockdown eased, some hotels are slowly resuming operations, targeting domestic tourism. But as long as there is no likelihood of foreign tourism returning, the economic damage caused to hotels and related businesses (suppliers, tourist attractions etc.) will continue to grow.

Published by Globes, Israel business news - en.globes.co.il - on June 2, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Tel Aviv hotels  / Photo: Eyal Fischer, Globes
Tel Aviv hotels / Photo: Eyal Fischer, Globes
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