FINANCIAL NEWS

Tourism to rebound by end of 2011: Egypt

03 Mar 2011

(MENAFN) The Tourism Minister of Egypt, Munir Abdel Nour, said that he expects the country’s tourism industry to bounce back from the effects of recent unrest by the end of 2011, reported Xinhua News.

Abdel Nour said that Egypt suffered from over a USD1 billion loss due to the decline in tourists number from February 2011 to April 2011.

The minister added that currently the number of tourists is only twenty percent of the levels over the same period of time in 2010.

The government is trying very hard to market the country and is planning to go to different tourism fairs in Berlin, Moscow and Italy.

According to the minister, Egypt is going to provide chartered planes or other domestic operators with subsidies worth USD17 million in an attempt to strengthen the industry and reach its revenue target of USD13 billion in 2011.

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