Egypt tourism expected to break even by year end

Revenues and the number of visitors from last year are expected to be the same this year, as the effect of the global economic crisis appears to be less severe than expected.

Currently, the Egyptian tourism industry is 4-5 percent below last year’s revenues.

The Ministry of Tourism is investing even more (between $40 and $60 million) this year in marketing and promotion activities.

The ministry is registering higher and higher numbers of tourists from the US and China.

Ahmed El-Nahas, chairman of the Egyptian Tourism Federation, pointed out that the tourism sector is employing 12 percent of the total labor force in Egypt and accounts for 11.6 percent of the national economy.

Over the past three years, the tourism sector has gathered more than LE 400 million to support community development projects; LE 122 million were allocated specifically to social service projects.

Excerpted from an article by Mariya Petkova for Daily News Egypt

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2. Egypt facing the challenge of a slowdown in tourism
3. Lower Tourism Revenue Expected for Egypt
4. American Visa cardholders contribute $144 million to Egypt’s tourism economy in 2008
5. More striking numbers on Egypt tourism sector growth

Tags: economy, financial crisis, Tourism

This entry was posted on Wednesday, November 25th, 2009 at 4:39 pm and is filed under Tourism. You can follow any responses to this entry through the RSS 2.0 feed.