Following the Jewish exodus from Arab countries in late 1940s and the early 1950s many Sephardi and Mizrahi Jews have settled in the city. The city developed as a tourist a major centre for Christian pilgrims. The ancient cemetery and tombs and the old synagogues are also draw religious Jewish pilgrims.
Since the 1990s, the importance of the port for fishing has gradually decreased. The Kinneret lake level supplies most of Israel’s water. Due to continuing droughts and increased pumping of fresh water from the lake the water level has dropped. But it is expected that the lake of Tiberias will regain its original level with the full operational capacity of Israeli desalination facilities.
New development plans are underway to expand the city with a new neighbourhood, Kiryat Sanz, built on a slope on the western side of the Kinneret and catering exclusively to Haredi Jews.