UN Tourism has released a new edition of its “Tourism Doing Business: Investment Guidelines,” with an emphasis on Jordan’s potential as a destination for investments.
Launched as part of the 50th UN Tourism Regional Commission for the Middle East, the paper focused on “Investing in Tourism: Opportunities and Challenges for Sustainable Financing”. Developed in partnership with Jordan’s Ministry of Tourism and Antiquities, the handbook offers a thorough analysis of the Kingdom’s socioeconomic conditions, tourism industry trends, and investment potential.
UN Tourism outlined the country’s compelling value proposition to an audience made up of high-ranking officials, investors, and specialists from throughout the region. The country boasts of UNESCO World Heritage sites, Petra, a New Wonder of the World, and distinctive natural attractions with well-known therapeutic benefits.
H.E. The Hashemite Kingdom of Jordan’s Minister of Tourism and Antiquities, Mr. Makram Queisi, confirmed: “Our strong and active partnership with the private sector is one of the key drivers of Jordan’s recovery.” The Hashemite Kingdom of Jordan’s government has introduced a new investment law and made significant changes to the tourist law as part of a legislative reform initiative that targets investment in general. The business sector was involved in direct and ongoing discussions that led to these reforms. With the support of our strong collaboration with UN Tourism and the release of the UN Tourism investment guide of the Hashemite Kingdom of Jordan, we are making significant progress towards making Jordan a sanctuary for investors.
During her presentation of the report’s contents at the conference, UN Tourism Executive Director Natalia Bayona said: “Jordan offers a one-of-a-kind tourism proposition with a rich umbrella of alternatives that encompass seven subsectors such as medical and wellness tourism, business or agritourism. Together with this varied offer, there is institutional stability, thoughtful policymaking, and a strong rebound in tourism following the epidemic.
Jordanian Economic Performance and Growth Potential
Over the past ten years, the Jordanian economy has grown steadily at a rate of 2.2% and has managed to keep inflation under control at an average of 2.1%. According to IMF estimates, Jordan’s GDP increased by 2.6% in 2023 and is predicted to grow by 2.6% in 2024 and 3.0% in 2025.
Tourism surpassed pre-pandemic levels by 28% in 2023, bringing in USD 7.4 billion in foreign inflows and reaffirming its position as one of the primary drivers of the economy and GDP growth in the nation.
A thorough examination of the investment prospects and the dynamics of greenfield investments is also included in the guidelines. Regarding Foreign Direct Investment (FDI), inflows increased by 83% in 2022 to reach USD 1.1 billion, almost matching the nation’s 10-year average. an apparent 2023 continuation of this pattern.
The nation is also putting into practice several initiatives, such as the Jordan National Tourism Strategy (2021–2025), the Investment Promotion Strategy (2023–2026), and the Economic Modernization Vision (2023–2030), to bolster its frameworks for investment and competitiveness as well as to encourage the expanding innovative entrepreneurial ecosystem. By 2033, it is anticipated that these measures will bring in an additional USD 3.8 billion in investments to the tourism industry.
Travel can be an engine of job creation and growth in the country,” stated Basmah Al-Mayman, Regional Director for the Middle East, “supported by sizeable investments, tourism diverse products, and Jordan’s natural beauty.” When handled well, tourism investment presents chances for market expansion and economic diversification.
