NAM effect: Sanctions-hit Iran richer by millions of US dollars

Sanctions-hit Iran government has earned millions of US dollars by hosting the 13th Non-Aligned Movement Summit here which was attended by representatives from over 50 countries.. According to Iran's own calculations, it would have earned at least $50 million.. Iran Cultural Heritage, Handicrafts and Tourism Organisation official Manouchehr Jahanian had said early last month that Iran's tourism industry will earn $50 million by holding the Summit.. But the entire money is unlikely to go to hotels or venues where the NAM delegates stayed. Rather, it will go into the government coffers.. Unlike usually when governments try to subsidise such large-scale international events, industry and official sources said Iranian establishment issued a strict guideline jacking up rates of everything from hotels to rooms, cabs and even food.. The embassies and diplomatic missions in Tehran did not have the right to choose and book rooms of their choice. Rather, they were given particular hotel names and rates. If an hotel room cost just $110 dollars per night on a normal day, the rates were jacked up over $400 for the Summit delegates.. Not only that, a conference hall at a hotel with a normal price tag of $1000 per day was jacked up to staggering $10,000 per day, sources said. These halls were normally used as back-end office by some countries for their media.. No only that, even meal rates were raised by four to five times. A normal $15 meal was raised upto $70. "We will get our normal rates, the rest goes to the government," a hotel industry source said.

NAM effect: Sanctions-hit Iran richer by millions of US dollars

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP