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FINANCIAL NEWS
Egypt’s tourism industry fails to pick up
28 Jan 2016
(MENAFN) Egyptian Taba, the location of Egypt’s busiest border crossing with neighboring Israel, witnessed its hotels’ income decline below 5 percent over January.
Basically, the tourism publicity campaigns conducted by the Ministry of Tourism have failed to attract Egyptians to Sharm El-Sheikh and other areas in the Red Sea including Taba.
In particular, Egypt has provided tourism companies with a six-month deferment in outstand debt owed to insurance, water, and electricity companies, but with no real gain.
Little more than a bus depot and a luxury hotel, Taba is a frequent vacation spot for tourists, especially those from Israel on their way to other destinations in Egypt.
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