While Israel is known as the Start-Up nation of the world, we tend to forget the rich ancient history that this country possesses. With beautiful sandy beaches, lively nightlife, gastronomy, splendid natural reserves, holy sites, wellness centers, spas etc., Israel is country that matches the taste of every traveler.
Hence, it does not come as a surprise that Israel had 3.6M tourists in the year 2017. The most visited sites being Jerusalem, Tel Aviv, the Dead Sea, Tiberias, Sea of Galilee and Galilee. 91% of tourists rated their travel to Israel as very good or excellent. This speaks highly of the outstanding tourist satisfaction that Israel has gained. Over 20 billion NIS (New Israeli Shekel) revenue in Israel is from the incoming tourism with an average daily expenditure of 162$ at the 1st half of 2017.
The growth in incoming tourism is supported by growth in incoming flights and new routes to Israel. The Tel Aviv Airport has seen a 13% increase in the incoming flights with new airline routes – Sao Paolo, Delhi, Mexico City, and Guangzhou.
Owing to this increase in tourism, the hotel industry in Israel is gradually growing with the demand exceeding the current supply of hotel rooms. The number of hotels in 2017 was estimated at 53,000 out of which, 55% of the hotel rooms are located in Eilat, Jerusalem and Tel Aviv.
Please find below the various incentives provided to the hotel industry in Israel:
- 20% of the investment for construction of new hotels or expansion of existing ones
- 33% for budget hotels
- 10% of the investment for conversion costs in Tel Aviv
New law amendment offers hotel developers an opportunity to request a permit for up to an additional 20% of the authorized surface for residential use
Between 2 and 10 years corporate tax exemption depending on the location of the property and on the qualification for a grant
New priority map for the tourism industry
In order to be eligible to a grant, the project must be located within the priority map for the tourism industry. This map was expanded in 2016 and now involves most areas of the country, excluding Tel Aviv and Herzliya.
For more incentives from the Government you can log on to: https://www.gov.il/en/Departments/General/government_incentives
Israel Hotel Investment Summit 2018
Part of the International Hotel Investment Forum (IHIF) series, the Israel Hotel Investment Summit (IHIS) is a 2 day conference providing in-depth analysis of the foreign investment opportunity into the Israel hospitality sector. The Summit will be held during November 19 – 20, 2018 in Tel Aviv, Israel. It will provide hospitality investors and key market stakeholders a complete overview of the country’s investment climate and development opportunities, offering a chance to understand Israel’s unique market conditions, considerations and opportunities. For more information, you can log on to: https://www.israelhotelinvest.com/
For more information you can check the website: https://www.gov.il/en/Departments/ministry_of_tourism
or contact email@example.com