Government to inject NIS 50 million into tourism-dependent Tiberias
Ministers voted on Sunday to allocate financial aid worth more than NIS 50 million ($14.5m.) to support the tourism-dependent city of Tiberias.
The assistance package will assist a variety of stakeholders to encourage tourism in the city, located on the shores of the Sea of Galilee, which has been among the hardest hit locations during the coronavirus outbreak due to its dependence on international, Christian tourism.
A total of NIS 20m. ($5.8m.) will be available in grants to support the opening and expansion of hotels in Tiberias, as well as to convert existing buildings into hotels.
Authorities hope to increase the diversity of current tourist accommodation options, including by encouraging the establishment of concept hotels and backpacker hostels. Funds will also be allocated toward the formulation of a tourism master plan to develop the Galilee city, assisted by the Tourism Ministry.
In addition, NIS 15m. ($4.35m.) will be assigned to establishing a municipal tourism company, tasked with marketing and branding the city and organizing large events.
The financial package will also provide NIS 5m. ($1.45m.) to renovate and upgrade the “Tiberium” water show on the Sea of Galilee, which was submerged by rising water levels in 2013, and NIS 6m. ($1.74m.) to improve infrastructure and facilities in areas of the city popular with visitors. Finally, NIS 1.9m. ($550m.) will assist small and medium-sized businesses harmed by the coronavirus outbreak.
“This is a program that includes grants for small businesses, building a comprehensive plan to develop tourism, giving incentives to improve hotels and a budget to develop the city,” said Prime Minister Benjamin Netanyahu. “I hope we will lead Tiberias forward, and support its economy and tourism.”
According to figures published by the Israel Hotel Association, Tiberias and the Sea of
Galilee area were home to 11% of a record 12.1 million nights spent in hotels by foreign tourists in 2019.
Last year, Israeli hoteliers enjoyed a third consecutive record-breaking year of tourism in 2019, welcoming approximately 4.55 million tourists to the country. Incoming tourism injected approximately NIS 23 billion ($6.67b.) into the economy, the Tourism Ministry said.