$13.8bn of investments made on tourism: ICHHTO head

EHRAN, Jul. 15 (MNA) – Some 1.8 quadrillion rials (about $13.8 billion) of investments have been made on tourism sector, Ali Asghar Mounesan, the head of Iran's Cultural Heritage, Handcrafts and Tourism Organization announced on Monday.

Making the remarks in his visit to Qazvin province, he added that via reducing bureaucratic procedures, investment attraction can be improved in this sector.

As reported, Iran's travel and tourism sector grew at 1.9% to contribute 1,158 trillion rials ($8.83 billion) or 6.5% of overall GDP and 1,334 jobs (5.4% of total employment) to the economy in 2018. This is according to the World Travel and Tourism Council’s annual research into the economic impact and social importance of the sector.

The WTTC report also shows international visitors spent 168,954 billion rials ($1.28 billion) in Iran in 2018. The council expects the number of international arrivals to stand at 6.5 million in 2019.

Lately, Iranian authorities have redoubled efforts to boost the tourism sector for increasing foreign currency revenues and creating jobs under the declining economic conditions.

The decline in national currency last year meant that travelling to and shopping in Iran became cheaper for foreign nationals.


News Code 147659


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