Amman explosions impact Jordanian tourism
Jordan, Economics, 11/12/2005

Analysts expressed fears that the tourism sector which is vital to Jordan will be adversely affected as a result of the bloody attacks which targeted hotels in Amman, and expected that Jordan will focus its challenge in the economic development to a fight in facing terrorism.

The researcher at the strategic studies center Hassan Barari said that the attacks aimed to frighten citizens and destabilize security because these explosions do not serve an Arab nor Islamic cause, rather intended to direct a blow against the tourism industry in the country.

Some 12 foreign tourists were killed and more than 20 of them were injured in the attacks against three western hotels in Amman.

In the first half of this year, revenues of the Jordanian tourism sector registered 420 million dinars ($ 588 million) in comparison with 379 million Jordanian dinars ($ 530 million) for the same period of 2004.

Tourism revenues in 2004 increased to 613 million Jordanian Dinars ($ 860 million) in comparison with 586 million Jordanian dinars ($ 820 million) in 2003.

Tourism constitutes the second biggest source for foreign currency in Jordan following bank transfers from Jordanians working abroad.

One Jordanian economist asked to be anonymous said that direct foreign investments in Jordan exceeded $ 5.6 billion in the last decades, thanks to the government's agreements with Arab and foreign states, and the grace the country enjoys of security and stability.

He indicated to the country's economic growth at a rate of 7% in the sector of real estate, telecommunications, the stock market, and tourism.

Amman witnessed a breakthrough in the price of land and flats increased between 35% and 80%, according to districts and areas within one year.

Transfers of workers outside the country increased to 1.6 billion Jordanian dinars ( $ 2.24 billion).

Indicator of the stock market of the Jordanian shares jumped over the barriers of 9,000 points at present in comparison with 4,000 points by the end of last year.

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