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Iran's tourism sector in need of government support

Business Materials 27 July 2020 09:31
Iran's tourism sector in need of government support

TEHRAN, Iran, July 27

Trend:

Iran's tourism sector is in need of government support, Head of Tourism Commission of Iran Chamber of Commerce Ali Akbar Abdolmaleki told Trend.

"The government has not given much support to the tourism industry, the businesses in this field were on the priority category to receive support package to compensate damages of coronavirus," he said.

"It was expected that the government would provide 160 million rials (about $3,000) worth of loans with a 12-percent interest rate to employers of this sector. So far, no support package has been provided," said Abdolmaleki.

"There should not be too much expectation from the government, since it can not sell oil and all its international borders are closed while its assets in foreign countries have been blocked, so how could it support the private sector," he said.

"Printing money could also cause serious increase of inflation," he said.

"If the government opens its international borders after the coronavirus situation improves, the tourism could get back on track, and solve the country's financial needs. Each tourist can bring revenues equal to 40 barrels of oil. The government needs to think about this," said Abdolmaleki.

"If the tourism industry flourishes, Iran would no longer need to rely on oil. Iran is one of the riches countries in the world in terms of cultural and natural attractions. So boosted tourism would affect other areas," he added.

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