BoI: Israel tourism sector needs 6,000-9,000 new hotel rooms by 2015

According to the research the local hotel industry contributed to economic growth and to employment in the country's periphery. Value-added tourism services were estimated (in 2007) at some NIS 12 billion
 
A research by the Bank of Israel, citing the important role tourism plays in the Israeli economy, says that Israel needs to open 6,000-9,000 new hotel rooms by 2015.
 
The report noted that, "During the last decade, there have been almost no new hotels opened, while the number of hotel rooms in most of the developed countries, and in particular around the Mediterranean, has grown, in response to the continuing increases in world tourism."
 
According to the research the local hotel industry contributed to economic growth and to employment in the country's periphery. Moreover, it said, value-added tourism services were estimated (in 2007) at some NIS 12 billion, or roughly 2% of Israel's GDP.
 
The research also noted that "The value added of tourist services in Israel, including services to Israelis and tourists and flight services, was estimated at about NIS 12 billion in 2007, which represents about 2% of GDP.
 
The industry’s labor force is characterized by a high proportion of low-skilled workers and workers from the periphery, which explains the importance of the industry in Israel beyond its contribution to economic growth."