Israel – Reopening Less Rosy Than It Looks
- By Caroline Grady
- 3 min read
BoI rapid indicators present a case for optimism. Weekly credit card data shows spending on restaurants up sharply over the past month and now 20% above pre-pandemic levels. Spending on both tourism and education & leisure is also up sharply in recent weeks but remains below January 2020 levels (Chart 1). Electricity consumption has recovered from the lockdown lows, and mobility data via Google and Apple show improved activity, albeit with the recent Passover holiday skewing data on workplace mobility (Chart 2).
Israel also announced this week that inbound tourism would slowly resume from 23 May. It will allow tour groups where individuals are already vaccinated and will test for COVID both prearrival and on entry to the country.
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