E&Y: Israeli tourism industry can grow to 4-5 million tourist arrivals by 2011

noreply@blogspirit.com () — Wed, 22 Nov 2006 16:20:00 +0100

Israel can achieve 4-5 million tourist arrivals by 2011 if it would focus on improving long-term marketing, infrastructure, attracting investors and adopting a more liberal aviation policy, according to a report by international consulting firm Ernst & Young (E&Y).

The study about the Israeli tourism industry points out that investing $50 million a year on marketing Israel as an attractive travel destination will produce a $447 million a year in new revenues from foreign tourist arrivals. This would also be a major catalyst of growth for Israel economy, by boosting the GDP by $3.5 billion and creating 45,000 new jobs in Israel.

According to the Ernst & Young's optimistic estimates, Israel has a potential to bring 18 million tourists from eight major markets: the US, UK, Germany, France, Italy and Sweden, and then on Russia and China. Currently, only 1.2 million visitors come to Israel from those countries every year.

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Israel Travel - tourism_forecast

E&Y: Israeli tourism industry can grow to 4-5 million tourist arrivals by 2011