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FINANCIAL NEWS
Egypt expects 20% jump in 2012 tourists numbers
19 Oct 2012
(MENAFN) Egypt’s tourism minister, Hisham Zaazou, stated that in 2012, the number of tourists visiting the country is expected to jump around 20 percent, reported Gulf News.
He said that in the January-September period, nearly 8.8 million tourists visited the country; however, the ministry is targeting a number of between 11.5 million to 12 million tourists by the end of the year.
In 2010, around 14.5 million tourists visited Egypt, generating a revenue of around USD2.05 billion, however, revenues dropped to around USD1.43 billion last year, due to a decline in the number of tourists, which reached 9.8 million.
It is worth noting that the tourism ministry would look into a potential tax break for investors in the tourism sector and present a study to the government, which may propose tax breaks of up to 10 years for developers who set up hotels within a certain period of time.
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