Egypt's Tourism Revenue to Range Between $4-4.5 bln in 2016Source: www.export-egypt.com 7/19/2016, Location: Africa |
|
|
|
|
|
Egyptian tourism receipts are expected to range between $4 billion to $4.5 billion by end of the current year, finance minister Amr El-Garhy said at press conference.
The total tourism revenues in 2015 registered $6.1 billion. El-Garhy attributed the sharp drop in revenue to the setbacks the tourism sector has faced over the last six to nine months, including the downing of a Russian airliner over the Sinai Peninsula in October that killed all 224 people on board. Russia suspended all passenger flights to Egypt following the plane crash and raised concerns about security in Egyptian airports. The ban on Russian flights drove down the number of incoming Russian tourists by more than 50 percent. Several European countries have also suspended their flights to the Sinai resort town of Sharm El-Sheikh. Tourism is an important source of foreign currency revenue for Egypt, which has been seeking billions in foreign financing facilities to address an acute hard currency shortage that followed political and security unrests in the wake of 2011 uprising. Egypt's tourism was at its peak in 2010 generating $12.5 billion. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | |
