Israel's hotel revenues fall 58 pct in Q1-Q3 due to COVID-19
Source: Xinhua | 2020-12-30
The total revenues of tourist hotels in Israel fell by nearly 58 percent year on year in the first three quarters of 2020, according to a report issued by the state's Central Bureau of Statistics on Tuesday.
The revenues amounted to 4 billion new shekels (about 1.25 billion U.S. dollars) in January-September this year, much lower than 9.5 billion shekels in the corresponding period last year, the report said.
The sharp drop in revenues began in late February, with the outbreak of the coronavirus pandemic in the country.
The most significant decrease was recorded in the second quarter, as the revenues totalled only 400 million shekels, compared with 3.5 billion shekels in the same quarter last year.
However, a recovery was recorded in the third quarter.
The number of employees in tourist hotels fell by about 45 percent, from a monthly average of 42,000 in January-September last year to 23,000 in the same period this year.
Busiunion
Busiunion