Hotel industry currently grapples with profound recession
Date
10/1/2024 7:58:06 AM
(MENAFN) The hotel industry is currently grappling with a profound recession, with experts estimating a staggering 70 percent decline in occupancy rates over the past year. This downturn is largely attributed to the ongoing conflict stemming from the military actions initiated by the Zionist Occupation since October 7 of the previous year. According to tourism expert Mouni Kawar, the repercussions on inbound tourism have severely impacted hotel occupancy.
Kawar noted that prior to the conflict, particularly in the historical city of Petra, hotel occupancy rates were above 80 percent. However, these figures have plummeted to a mere 10 percent in the current climate. He emphasized that typically, tourism experiences a resurgence in the second quarter of the year, with a peak period from mid-August onward. Unfortunately, this year has deviated from that trend, leading to a significant drop in tourist numbers.
Official data indicates that the number of visitors to Jordan has decreased by 7 percent in the first eight months of this year compared to the same period last year, totaling 4.2 million tourists, down from 4.5 million. Another tourism expert, Mahmoud Khasawneh, highlighted that tourist reservations have been stagnating at around 30 percent across various regions of the kingdom since the beginning of last year up until the conflict escalated in October.
Khasawneh pointed out that, despite the strong and remarkable demand for tourism, particularly in diverse international markets, the historical visitor figures that Jordan typically achieves have not materialized this year. This situation underscores the ongoing challenges facing the tourism sector, as the ramifications of the conflict continue to reverberate throughout the economy.
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