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FINANCIAL NEWS
Egypt tourism sector to decline by 40 percent
14 Apr 2016
(MENAFN) The transfer of control of Tiran and Sanafir islands to KSA will result in a 40 percent drop in annual diving activity.
Moreover, the Egyptian government proclaimed the separation of maritime borders with Saudi Arabia and the transfer of the island from Egypt to KSA.
In addition, inbound tourism to Egypt dropped through 2015 to 9.3mn tourists compared to 9.9mn in 2014.
On the other hand, tourism income also declined to USD 6.1bn through 2015, compared to USD 7.3bn during 2014.
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