Israel tourist boom

Keynote speaker Mark Regev, Israel's ambassador to the UK, was in a bullish mood at the Sheraton Grand Park Lane last week addressing the hotel industry, with tourism up 14% in 2018 and reminding the 200-plus attendees that Virgin Atlantic was joining the five airlines already serving Tel Aviv direct from London.

Hosted by the Israeli Ministry of Tourism in conjunction with HVS Research, the gathering listened to a detailed presentation by Russell Kett, chairman of the hospitality intelligence group, entitled ‘Israel Hotel Market Overview! Another Record Year!’  GDP grew in 2018 by 3.5% and is predicted to grow further; unemployment is at 4% (2018 figures) and foreign direct investment continues to increase. 

As the keynote speaker, Regev made reference to the recent visit by Benjamin Netanyahu to meet Boris Johnson. While not actually mentioning Brexit, he was positive: “Trade discussions were an important part of the agenda – the UK is Israel’s third largest export market (after the US and China).”

A panel discussion noted that market was very similar to that of Europe. The advice was that to invest you have to do your research, recognise the data and have someone on the ground who knows the local scene well.

The Israel Hotel Investment Summit (IHIS) is from 20-21 November in Tel Aviv.

www.israelhotelinvest.com

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