Israel’s booming economy has made the shekel soar, local prices rise and travel fans compare what their money can buy and come to the conclusion — it’s time for a vacation abroad. Over the past 18 months, the shekel has gained about 8% against the dollar, 12% against the euro and 20% against the British pound, making eurozone countries and Britain particularly attractive destinations for Israelis. Also we have the growth in foreign visitors means the domestic hotel industry can cope with this downsizing now, but rising costs means their margins are narrowing. Passover is usually a popular time for people to go away. Complaints about high local prices have become so widespread that radio stations have held call-in shows to discuss the problem.
