Jordan’s hotel industry is experiencing a substantial influx of Arab investments, marking a significant development in the sector. According to a recent statement by Deputy Chairman of Jordan Hotels Association Hussein Hilalat, the total value of Arab investments in hotel establishments, excluding those situated in the city of Aqaba, has surged past an impressive JD532 million. Additionally, Arab investors, in collaboration with their Jordanian counterparts, have injected approximately JD265 million into the sector. These investments are being hailed as a vital catalyst for the growth of tourism within the Kingdom, he said, noting that they have played a pivotal role in propelling the sector forward, not only at the local level but also on a regional scale. Furthermore, Hilalat indicated that these investments are instrumental in bolstering the Kingdom’s economic growth, reducing unemployment rates, and nurturing a diverse tourism landscape, having positive effects at both the national economic level and within local communities. The Deputy Chairman went on to affirm that investors are finding the Jordanian hotel sector increasingly attractive and profitable. This is attributed to the sector’s buoyant tourism activity, mounting demand for accommodation services, a rich variety of tourism offerings, and the country’s reputation for safety and security. He also provided some key statistics, revealing that there are a total of 57 hotel establishments owned by Arab investors, excluding those located in Aqaba. Additionally, seven establishments are under the ownership of Arab investors in partnership with Jordanian entrepreneurs, collectively employing over 4,000 individuals. He concluded by saying that efforts to attract more Arab and foreign investments in the sector are gaining momentum, with recommendations including providing incentives for projects in regions outside major cities, reducing taxes on hotel establishments, lowering energy costs and water prices, and offering incentives in designated development areas to encourage the establishment of tourism projects. Moreover, close collaboration between government ministries and various departments is also deemed essential to facilitate these investments.
Source: Jordan News Agency