He added that tourism activity is directly linked to the foreign exchange sector through the need of visitors and tourists for currency exchange services, which contributes to increasing trading activity and stimulating foreign exchange operations, in addition to enhancing the demand for financial services linked to tourism activity.
He pointed out that the increase in tourism income contributes to enhancing foreign currency liquidity and supporting spending movement within the local market, which positively reflects on sectors of trade, services, transportation, restaurants, hotels, and other activities linked to tourism.
He explained that remittances from Jordanian workers abroad form an important source of foreign currency inflows to the Kingdom, where remittances received increased by 14.1 percent during the past 7 months of the current year, reaching $2.97 billion compared to the same period last year.
He pointed out that the growth in incoming remittances positively reflects on the activity of the foreign exchange market through increasing the movement of money transfers and providing additional financial flows to the local market, in addition to supporting the purchasing power of beneficiary families and stimulating trade and service movement.
He confirmed that the increase in tourism income and incoming remittances together enhances the movement of foreign currencies in the local market and supports the activity of foreign exchange companies, which play an important role in facilitating currency exchange operations, money transfers, and serving citizens and visitors.
Sultan praised the development witnessed by the foreign exchange sector in the Kingdom and the level reached by foreign exchange companies in terms of service diversity, transaction speed, and providing modern payment and transfer means, confirming that this enhanced their ability to keep pace with the growth in tourism movement and financial transfers.
He also praised the efforts of the Central Bank of Jordan in developing and organizing the foreign exchange sector and enhancing the efficiency of the financial transfer system, explaining that these efforts contributed to raising the level of financial services and enhancing security and reliability in exchange and transfer operations.
Sultan explained that the foreign exchange sector forms an important link in the economic activity system and is directly linked to tourism movement, remittances, and trade, making the growth of financial flows to the Kingdom a supporting factor for sector activity and market movement.
