Owing to the continued unrest in the Middle East, investors are shying away from the region, which includes Saudi Arabia, Qatar, Turkey, Oman, Jordan, Iraq, Kuwait, and the UAE, besides other destinations popular among NRIs.

The Iran-US-Israel conflict has had negative repercussions on most sectors that were once investment ground for NRIs.

The hospitality sector has reported a sharp decline with hotels, resorts, and luxe spaces sparsely running. Tourists are no longer making fresh bookings to these placing even during peak holiday seasons. The blow on tourism has also come down strongly on the real estate sector as NRIs are unwilling to risk their fortune over an unstable political environment.

There has been a decline in the number of pilgrims to religious locations in Riyadh, Jeddah, and Mecca.

Destinations such as Qatar, which are known to attract the culturally-inclined, are seeing empty galleries and museums. International events have been stopped for now. Needless to say, Turkey’s ancient ruins lie unnoticed because of the escalating tensions around the region.

Large-scale projects that should have been completed by now have been put on hold, leading to decreased tourist arrivals.

Oman, replete with history and beauty, is coming to terms with cancellations from key international markets in its tourism sector.

Jordan is no exception as it faces a sharp decline in international visitors.

Amid growing fears of instability, Iraq and Kuwait are also experiencing the ripple effects of the Iran conflict. Both the nations are trying to keep afloat by reassessing their positions.

The UAE, on the other hand, has been forced to drive tourists away, while looking forward to a period of recovery sometime soon. – editor@nrifocus.com