Holy Arbaeen Pilgrimage Boosts Iraq’s Economy

Holy Arbaeen Pilgrimage Boosts Iraq’s Economy
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The Arbaeen pilgrimage has provided a significant boost to Iraq’s economy, with a noticeable improvement in the local exchange rate due to an influx of foreign currency. Economic experts note that the massive event, which attracts millions of foreign and domestic visitors, has significantly revived various sectors.

According to economic specialist Haider Al-Sheikh, over four million foreign visitors have entered Iraq, bringing in millions of dollars and contributing to the stability of the dinar’s exchange rate in the parallel market. He highlighted that religious events, especially the Arbaeen pilgrimage, have stimulated trade and employment, particularly in the provinces of Karbala and Najaf.

Another economic expert, Nasser Al-Tamimi, affirmed that the pilgrimage’s economic impact extends beyond its spiritual aspects. It acts as a real economic driver for vital sectors such as transportation, hospitality, and food services. The large influx of pilgrims boosts demand for essential goods, including food, water, and consumer products.

Al-Tamimi also pointed out that the volunteer-run processions, or “Mawkibs,” support the local solidarity economy and stimulate production in small and medium-sized enterprises. He concluded that Iraq has a genuine opportunity to transform this annual event into a continuous economic and development program by improving infrastructure and services to encourage investment in religious tourism.