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Iran: Inbound Tourism Gains Impeded by Forex Volatility

Inbound Tourism Gains Impeded by Forex Volatility  Inbound Tourism Gains Impeded by Forex Volatility

The sharp depreciation of the rial which should normally boost the inbound tourism market by making trips more affordable for foreigners has failed to bring the country the anticipated profit due to the unchecked rise in the prices of travel services as a result of ever-changing forex policies. 
Air transport was the first link of the travel industry chain that was affected by the policies with ticket prices more than doubled in recent days. The government ceased its plan to supply foreign currency at subsidized rate for airlines as of Thursday and the companies now have to obtain their needed forex at the daily average of currency exchange rates. 
As a result, Iranian airlines' ticket prices have reportedly increased by 70% to 100%. 

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