The Palestinian ministry of tourism recently reported that the local tourism sector had incurred $550 million in losses since October, according to Al-Sharq Al-Awsat daily.
In addition, the ministry added that Israel’s policy in the Palestinian territories resulted in $400 million worth of un-invested capital in the sector. More than 3,000 workers lost their jobs in this sector as well.
According to the statistics provided by the Ministry of Tourism, prior to the Intifada, Palestinian tourism facilities included 101 hotel rooms, 114 travel agencies, 248 souvenir shops and 110 tourist restaurants.
The ongoing turmoil in the region has been more damaging to the Palestinian economy than any previous social or economic crisis. Over $11 million daily is currently lost by the economy as a whole mainly due to the Israeli blockade.
The Arab Labor Organization maintains that since September 2000 a total of five billion dollars has been lost. ― (MENA Report)
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