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FINANCIAL NEWS
Sharm El-Sheikh tourism predicts to decline
11 Feb 2016
(MENAFN) Colliers International forecasts tourism to Sharm El-Sheikh and Hurghada to fall, whereas tourism to Cairo and Alexandria is predicted to increase.
Accordingly, in the wake of travel limits to Sinai, businesses in Sharm El-Sheikh and Hurghada have a big reliance on local tourism.
Additionally, west and east Cairo are taking advantage from the need, which was limited to hotels in downtown Cairo, which achieved 28 percent growth.
Moreover, increase in hotel capability in Hurghada has been steady through the past year, particularly across five, four, and three hotels which introduce almost 33 Pct of whole capacity.
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