The government has allocated $442 million to the travel industry in the sixth five-year economic development plan (2016-21), according to Government Spokesman Mohammad Baqer Nobakht.

Speaking to reporters on Sunday, Nobakht said the government is committed to developing the sector and tapping the potential of the travel market is a priority. According to the budget law, 10% of resources in National Development Fund are allocated to tourism programs, IRNA quoted the official as saying.

Nobakht said the industry�s global growth prompted the President Hassan Rouhani�s administration to divert funds into the sector, which led to a 12% growth over the past two years. �We successfully capitalize on our tourism potential under sanctions. Using the same dedication and management, the industry can thrive in the post-sanctions era,� he said.

By Financial Tribune