Gulf tourism revitalises exchange sector in Jordan
The banking sector in Jordan has witnessed a revival thanks to the influx of Gulf tourists to the kingdom during this summer season, says a senior official.
Ala Deiranieh, the president of the Jordanian Exchange Association, says: “This comes after that sector received consecutive strikes over the past two years due to the tumbled foreign trade routes between Jordan and its neighbours since it has lost its land border crossings with Iraq and Syria.”
Deiranieh says in a statement to UK-based Alaraby: “[The] exchange sector in the country has been gaining its revival since mid-June after registering a great recession during the previous six months, because of the turmoil in the region and the decline in exports to several markets.”
He adds that the exchange sector’s revival was driven by the clear rise in the number of Arab tourists, especially from the Arab Gulf states, the remittances of Jordanians working abroad and the return of many of them to spend summer vacations in their own country.