Israel’s tourism sector incurs $3.4B in record losses since Gaza war

Israel reported an "unprecedented fall" in tourism revenues with $3.4 billion losses since the outbreak of the Gaza war in October 2023.

Figures released by the Israeli Tourism Ministry showed that tourist arrivals have dropped by more than 90% since the start of the Gaza war.

According to the public broadcaster KAN, direct and indirect losses in the tourism sector exceeded 12 billion shekels ($3.4 billion).

Israeli officials attribute this sharp decline to an almost complete halt of air traffic and the lack of security and stability on the domestic front.

The Israel Hotel Association said that hotel occupancy rates dropped to 10% in some areas, calling it "historic levels" compared to 80% occupancy in previous years.

"Rebuilding trust within the global market may take a long time and double promotional efforts," the association said.

Scores of international airlines have halted flights to Israel amid rising regional tensions over Israel's genocidal war on Gaza.

The Israeli army has continued a brutal offensive on the Gaza Strip, killing more than 52,900 Palestinians since October 2023, most of them women and children.

The International Criminal Court issued arrest warrants last November for Israeli Prime Minister Benjamin Netanyahu and his former Defense Minister Yoav Gallant for war crimes and crimes against humanity in Gaza.

Israel also faces a genocide case at the International Court of Justice for its war on the enclave.