By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Do startups suffer from exaggerated financial valuation?
    Do startups suffer from exaggerated financial valuation?
    May 30, 2023
    Minister of Communications inaugurates Digital Egypt Creativity Centre in Kharga
    Minister of Communications inaugurates Digital Egypt Creativity Centre in Kharga
    May 30, 2023
    KarmWater inaugurates Marsa Alam’s first solar-powered water desalination plant
    KarmWater inaugurates Marsa Alam’s first solar-powered water desalination plant
    May 30, 2023
    Prime Minister chairs 15th meeting of permanent unit to solve investors' problems
    Prime Minister chairs 15th meeting of permanent unit to solve investors’ problems
    May 30, 2023
    SCZONE meets international energy, digital solutions companies over investment opportunities
    SCZONE meets international energy, digital solutions companies over investment opportunities
    May 30, 2023
  • Politics
    PoliticsShow More
    Palestinian killed, 8 injured by Israeli soldiers in northern West Bank: Medics
    Palestinian killed, 8 injured by Israeli soldiers in northern West Bank: Medics
    May 30, 2023
    Iranian Supreme Leader Ali Khamenei welcomes activating ties with Egypt
    Iranian Supreme Leader Ali Khamenei welcomes activating ties with Egypt
    May 30, 2023
    All Israeli settlements, including Homesh, are illegal: Palestinian Presidency
    All Israeli settlements, including Homesh, are illegal: Palestinian Presidency
    May 30, 2023
    Arab League, UNHCR discuss refugee issues in region
    Arab League, UNHCR discuss refugee issues in region
    May 30, 2023
    Spanish PM calls early general election after local elections defeat
    Spanish PM calls early general election after local elections defeat
    May 30, 2023
  • Interviews
    InterviewsShow More
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    May 25, 2023
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    May 8, 2023
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    April 29, 2023
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    April 18, 2023
    "Al-Asly" series saw my first leading role in TV drama: Reham Abdel Ghafour
    “Al-Asly” series saw my first leading role in TV drama: Reham Abdel Ghafour
    April 16, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Al Ahram Beverages sales affected by decline in tourism
Share
Notification
Latest News
Palestinian killed, 8 injured by Israeli soldiers in northern West Bank: Medics
Palestinian killed, 8 injured by Israeli soldiers in northern West Bank: Medics
Region Politics
Do startups suffer from exaggerated financial valuation?
Do startups suffer from exaggerated financial valuation?
Business
Minister of Communications inaugurates Digital Egypt Creativity Centre in Kharga
Minister of Communications inaugurates Digital Egypt Creativity Centre in Kharga
Business
KarmWater inaugurates Marsa Alam’s first solar-powered water desalination plant
KarmWater inaugurates Marsa Alam’s first solar-powered water desalination plant
Business
Prime Minister chairs 15th meeting of permanent unit to solve investors' problems
Prime Minister chairs 15th meeting of permanent unit to solve investors’ problems
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Tourism > Al Ahram Beverages sales affected by decline in tourism
BusinessTourism

Al Ahram Beverages sales affected by decline in tourism

Aisha Zidane
Last updated: 2016/06/30 at 6:25 PM
By Aisha Zidane 4 Min Read
Share
SHARE

Al Ahram Beverages Company (ABC) increased its prices by 10% due to the decrease of the Egyptian pound’s value against the US dollar, despite sales slowing since last November.

 

According to Jan-Kees Nieman, ABC’s managing director, the company increased the price of some of its products by 10% as almost 25% of the raw materials used for production are imported from abroad, which requires using the US dollar and therefore increases the cost of production.

 

Nieman expects that prices will continue to increase in the upcoming period if the Egyptian pound continues to decrease in value against the US dollar, increasing the cost of production for ABC.

 

Speaking about the company in 2016, Nieman expressed that he does not expect that the company will achieve the desired amount of sales this year as tourism remains in decline.

 

The company’s sales decreased in November and December 2015 after the downing of the Russian aeroplane in October 2015 that caused the death of 224 people. Since the end of 2015, the company’s sales have continued to decrease with the decline in tourism.

 

“Some of the countries which used provide tourism to Egypt have still not announced when they will resume facilitating tourism to Egypt once more,” he added.

 

As for the floating of the Egyptian pound against the US dollar, Nieman stressed the increase of ABC’s production costs as all imported ingredients involve the use of US dollars.

 

On a national level, ABC directly pumps investments into the local market via products or by expanding distribution throughout Egypt. On an international level, the company exports to a few countries in Africa and Asia. However, in the upcoming period, ABC targets not only to increase its exports but also to increase its production in general.

 

As the company’s sales depend on tourism, ABC supports the revival of tourism. ABC organises training courses for people who work in the tourism sector. “We consider this as the company’s corporate social responsibility,” Nieman said.

 

So far, during the past year, the company has trained 275 employees within the tourism sector. At the beginning of this year, it started training another 80 employees. Unfortunately, it stopped the programme as tourism continued to decline after the Russian aeroplane crash.

 

These training courses are organised in cooperation with the Egyptian Tourism Federation, the Egyptian Travel Agents Association, and the Egyptian Hotel Association.

 

“Since a large percentage of the people who worked in the tourism sector left it, the company’s training courses will resume when tourism returns,” he expressed, adding, “The company allocates an open budget for this training programme as trained employees are important for guaranteeing the recovery of tourism in Egypt and the recovery of our sales.”

 

Nieman concluded that the company further supports tourism by hosting famous international figures in Egypt, so that these figures can then promote tourism to Egypt in their own countries.

 

For example, Spanish football legend, Carlos Puyol, was invited to Egypt at the end of May, where he visited the Pyramids and gave a speech in a press conference.

You Might Also Like

Do startups suffer from exaggerated financial valuation?

Minister of Communications inaugurates Digital Egypt Creativity Centre in Kharga

KarmWater inaugurates Marsa Alam’s first solar-powered water desalination plant

Prime Minister chairs 15th meeting of permanent unit to solve investors’ problems

SCZONE meets international energy, digital solutions companies over investment opportunities

TAGGED: Egyptian Tourism Federation, Egyptian Travel Agents Association, tourism
Share this Article
Facebook Twitter Email Print
Previous Article Religious studies exam reportedly leaked, angry students call for more protests
Next Article Students gather at Press Syndicate to protest exam delays
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Palestinian killed, 8 injured by Israeli soldiers in northern West Bank: Medics
Palestinian killed, 8 injured by Israeli soldiers in northern West Bank: Medics
Region Politics
Do startups suffer from exaggerated financial valuation?
Do startups suffer from exaggerated financial valuation?
Business
Minister of Communications inaugurates Digital Egypt Creativity Centre in Kharga
Minister of Communications inaugurates Digital Egypt Creativity Centre in Kharga
Business
KarmWater inaugurates Marsa Alam’s first solar-powered water desalination plant
KarmWater inaugurates Marsa Alam’s first solar-powered water desalination plant
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?