Israel's hotel revenues fall 65 pct in 2020 due to COVID-19: report

The total revenues of tourist hotels in Israel fell by nearly 65 percent in 2020, compared to 2019.

JERUSALEM, 

The total revenues of tourist hotels in Israel fell by nearly 65 percent in 2020, compared to 2019, according to an annual report issued by the country's Central Bureau of Statistics on Wednesday. The revenues amounted to 1.25 billion U.S. dollars in 2020, much lower than 3.56 billion dollars in the previous year, the report said.

The sharp drop in revenues began in late February 2020, with the outbreak of the coronavirus pandemic in the country. The most significant decrease was recorded in the fourth quarter, as the revenues totaled only 87.6 million dollars, compared with 917.5 million dollars in the same quarter in 2019.

For comparison, the total revenues of tourist hotels in Israel increased by 6.2 percent in 2019, compared to 2018.

The number of employees in tourist hotels in Israel fell by almost 50 percent, from a monthly average of 42,100 in 2019 to 21,100 last year. 

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