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FINANCIAL NEWS
Egypt tourism sector drops by 66 percent in Q1
26 Apr 2016
(MENAFN) Egypt posted only USD 500mn in tourism revenue in Q1 of this year, down from USD 1.5bn a year earlier, emphasizing the country’s issue to kickstart a dollar-earning industry.
However, Egypt’s tourism industry has been struggling to rebound after the political and economic situations happened by the 2011 uprising.
Additionally, in Q1 of 2016 only 1.2mn tourists travelled to Egypt, decline from 2.2mn a year earlier, according to economic adviser.
The country aims to attract 12mn tourists by the end of 2017 via plan that involves increasing the presence of national carrier EgyptAir abroad.
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