Israel-Hamas conflict reduces demand for air tickets

SGGP 11/11/2023 11:27

According to a new report released by travel analytics firm ForwardKeys, international flight bookings have dropped worldwide since the outbreak of the conflict between Israel and the Islamic Hamas Movement, especially in the Americas as people canceled trips to the Middle East and many other destinations around the world.

Accordingly, the number of international flight bookings from the Americas in the three weeks from October 7 decreased by 10% compared to the number of tickets sold in the previous three weeks. People in the Middle East also traveled less. The number of international flight tickets issued in the region decreased by 9% in the same period, while the number of international flight bookings to the region decreased by 26%.

Meanwhile, the Bank of Israel said that the labor shortage caused by the conflict between the country and Hamas has cost the Israeli economy an estimated $600 million per week, equivalent to about 6% of GDP.

The report concluded that the decline in labor supply was due to the mobilization of military reserves, the evacuation of residents in the South and North, and the closure of theeducation system that forced parents to take time off work to look after their children.

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