Passover, a NIS 4.8 billion holiday

Israeli households spend roughly 10% more during the week of the holiday than in non-holiday weeks.

By
March 29, 2015 16:04
Investment graph

Investment graph. (photo credit: INGIMAGE / ASAP)

 
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Passover this year will be worth approximately NIS 4.8 billion, according to the Federation of Israeli Chambers of Commerce.

A study estimated that Israeli households spend roughly 10% more during the week of the holiday than in non-holiday weeks, amounting to a roughly NIS 2,400 increase in spending per household.

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Two-thirds of the spending will go to food (all that Matzo and Gefilte fish add up!), but the remaining NIS 1.6 will be spent on gas and transport, entertainment, domestic and foreign trips, clothing, eating out.

Massive holiday discounts and sales are expected to draw consumers.

All that shopping will mean a 2% bump in jobs.

According to the FICC’s economists, the holiday will lead to a seasonal increase of 12,400 jobs, mostly in hotels, restaurants and catering services.

Many of those positions, however, are expected to disappear by May.

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