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FINANCIAL NEWS
Egypt’s H1 tourism arrivals drop 40%
14 Sep 2011
(MENAFN) Egypt’s Ministry of Tourism said that in the year’s first six months, tourists’ numbers arriving to the country dropped 40 percent due to the political unrest that swept Egypt at that period, reported Arabian Business.
The ministry added that in the period, the number of visitors reached 4.1 million down from 6.9 million in the first half of 2010.
It also said that since travelers decided to choose other safer destinations, the country’s economy lost around USD1.8 billion between early February and early April, for that reason, the government announced plans to offer financial incentives to tour operators in the UAE and Europe, in an attempt to attract more visitors.
It is worth noting that Egypt’s tourism sector contributes with 11 percent to the country’s GDP, its revenue for the year would be around 25 percent less than 2010.
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