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Dailynewsegypt > Blog > Business > Economy > Tourism sector on unstable ground
BusinessEconomy

Tourism sector on unstable ground

Daily News Egypt
Last updated: 2013/07/10 at 1:32 AM
By Daily News Egypt 2 Min Read
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Beach tourism represents 80% of all of the sector’s revenues. Three months’ worth of revenues from this sector are actually enough to match the amount of money being considered as part of the country’s pending IMF loan package (file photo: AFP)
The Red Sea governorate agreed to provide a construction work licence for the Sheraton Hotel and Resort project to the Saudi-Egyptian Company for Red Sea Investments, according to a company official. (AFP Photo)
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Beach tourism represents 80% of all of the sector’s revenues. Three months’ worth of revenues from this sector are actually enough to match the amount of money being considered as part of the country’s pending IMF loan package (file photo: AFP)
Spokesman of the Austrian Ministry of Foreign Affairs Martin Weisson Tuesday declaredthe safety of some Egyptian touristic destinations, including Hurgada, Sharm Al-Sheikh, Alexandria and Luxor.
(AFP Photo)

By: Doaa Farid

Spokesman of the Austrian Ministry of Foreign Affairs Martin Weisson Tuesday declaredthe safety of some Egyptian touristic destinations, including  Hurgada, Sharm Al-Sheikh, Alexandria and Luxor.

The ministry had previously announced the presence of approximately 8,000 Austrian tourists in Egypt, warning them against visiting Cairo

The deputy head of hotels chamber, Hani El-Shaer, said tourism has not yet changed since 30 June. He expressed his concern, however, about the violence in the streets, warning that this would not help the tourism sector.

Shortly after the ouster of former president Mohamed Morsi, the Egyptian Ministry of Tourism announced in a statement that they predict a boom in tourism in the coming period starting next autumn, after the country stabilises.

El-Shaer said that everyone was expecting prosperity in tourism after Morsi’s ouster but the violence erupted “stole our hope”. He also said that there may be many tourists in Egypt right now but most of them are Syrians and Libyans who don’t provide high revenue.

He mentioned that France also advised against travel to Egypt, and Germany only allowed its citizens to visit Hurgada and Sharm Al-Sheikh.

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TAGGED: 3 July, 30 june, Daily, Economy, Egypt, Morsi, News, tourism, violence
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Previous Article Ministry of Finance is set to review the final draft of Egypt’s economic reform programme set to precede the acceptance of the country’s pending $4.8bn International Monetary Fund (IMF) loan. (Daily News Egypt) Finance ministry affirms commitment to timely foreign debt payment
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