June 22, 2024

Advancing Business Excellence

Pioneering Corporate Success

Investing in Jordan

“In today’s world, rife with post-pandemic recovery, geopolitical strife, and the push for sustainability, Jordan emerges as a prime investment destination. Its strategic position, solid institutional support, and economic resilience have propelled its tourism sector beyond its pre-pandemic stature in 2023, signaling robust growth and potential.”

Natalia Bayona,

Executive Director, UN Tourism

“Tourism Doing Business – Investing in Jordan” is a valuable tool for investors and tourism experts who wish to gain deep knowledge about the sector’s performance and appealing investment opportunities. 

The report highlights the country’s main strengths and attractions. These include more than 100,000 archaeological sites, 6 assets declared World Heritage sites by the United Nations Educational, Scientific and Cultural Organization (UNESCO) and one of the new wonders of the world, a strategic location and robust infrastructure, emerging talent pool, supportive government policies, and a business-enabling investment ecosystem. These attributes make Jordan a promising destination for attracting tourists and formalizing investments in the tourism sector.  

ECONOMIC OUTLOOK 

The guide starts by outlining the evolution of Jordan’s macroeconomic context, maintaining a GDP growth rate in line with the Middle East average over the last decade, with positive projections for the coming years. Despite contending with the impacts of regional conflicts, and issues such as unemployment, the government, under King Abdullah II’s leadership, is firmly committed to maintaining peace and economic resilience. According to the International Monetary Fund’s (IMF) projections, Jordan’s GDP is anticipated to grow by 2.6% in 2024 and 3.0% in 2025.  

INVESTMENT OUTLOOK 

The special focus on investments highlights a remarkable increase in foreign direct investment (FDI) inflows, surging by 83% in 2022, reaching USD 1.1 billion—nearly matching the country’s 10-year average inflow. This trend seems to have continued into 2023, as the Central Bank of Jordan reports that in the first half of 2023, FDI inflows amounted to around USD 776 million, a 20.9% increase compared to the same period in 2022. According to the Ministry of Investments, total inward FDI for 2023 estimates is around USD 1,058 million. Additionally, the governmental initiative Economic Modernization Vision 2023 – 2033 is expected to attract additional investments of JD 2.7 billion (around USD 3.8 billion) in the tourism sector by 2033.  

VALUE PROPOSITION 

This investment publication also presents Jordan’s value proposition for attracting tourism investments. It emphasizes the country’s strategic location, which is coupled with a well-developed infrastructure, and a business-enabling investment ecosystem. Supportive government policies and a commitment to fostering entrepreneurship provide the perfect environment for foreign investment.  

GROWING MEDICAL, WELLNESS AND HONEYMOON DESTINATION 

Jordan’s role as a growing medical, wellness, and honeymoon destination deserves a chapter on its own. This tourism segment has emerged as a significant component of the global tourism sector, driven by growing consumer awareness towards personal health and wellness in recent years, with the pandemic notably accelerating this growth. With its unique blend of natural and historical assets, Jordan is perfectly positioned to capitalize on the growing medical, wellness, and romantic tourism, offering an array of wellness experiences, from the mineral-rich waters of the Dead Sea, known for their therapeutic properties, to the hot springs and traditional healing practices.  

COMPETITIVE OUTLOOK 

Lastly, the report presents the competitive landscape of Jordan’s tourism industry, reflecting the accelerated sector growth, not only in visitor arrivals and increased hotel industry occupancy rates but also in visitors’ higher daily spending. This has translated into growth in various service sectors, generating significant positive externalities for other related industries and a significant increase in tourism-related employment. 

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