Iran’s tourism sector in need of $21bn worth of investment

Acting Head of Iran's Cultural Heritage, Tourism and Handicrafts Ministry (CHTHO) Ali Asghar Moonesan said on Monday, Sep. 02.2019 that tourism sector of the country is in dire need of $21 billion worth of investment.

“Our target is to achieve a 4.7 percent tourism share of gross domestic product (GDP) and for this reason, CHTHO will need $21 billion worth of investment in tourism sector,” he added.

Speaking in Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), Moonesan stated, “today, tourism industry is the third largest economy in the world and its growing trend is accelerating as compared to the other sectors of economy”

Tourism is the only sector that smarting does not have any effect on it, he said, adding, “for this purpose, advanced and developed countries are working on this issue.”

According to the statistics of the Central Bank of Iran (CBI) with regards to the economy of the country, tourism share of gross domestic product (GDP) hit $11.8 billion, which accounts for about 2.8 to 3 percent share of GDP, while this rate stands at 4.7 percent in neighboring Turkey, he added.

To attain a 4.7 percent tourism share of GDP, Iran will require $21 billion worth of investment, he said, adding, “accordingly, the ministry welcomes cooperation and collaboration of private sector in order to materialize objectives of tourism industry in the country.”