Economics
Island Paradise in Iran Gets a Huge Boost From Trump Sanctions
- Sanctions damaged the economy and shredded spending power
- Bookings at hotels on Iran’s southern Qeshm island are way up
Rare wildlife and dramatic canyons attracted a steady stream of travelers to Mina Fatemi Sadr’s hotel on Iran’s Qeshm island each Persian New Year holiday. Then it got its biggest break courtesy of Donald Trump.
His decision in May to reimpose U.S. sanctions led to a collapse in the rial currency that’s sapped Iranians’ spending power, forcing many to abandon the idea of expensive overseas trips. While the resulting runaway prices and shortages are causing hardship for poorer Iranians, it’s boom time on dolphin-shaped Qeshm in the Gulf.