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Egypt's tourism revenues drop 43% in first quarter 2014 Y-O-Y
The first quarter of 2014 marked a significant drop in tourism in Egypt, in the wake of a widening Islamist insurgency
Ahram Online, Wednesday 16 Apr 2014
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Tourism
The Giza Pyramids (Photo: Reuters)

Egypt’s tourism revenues dropped 43 percent in first quarter of 2014 compared to the same period the previous year to register $1.3 billion, reported Reuters Wednesday.

The Ministry of Tourism was not immediately available to confirm the results to Ahram Online.

The decline is seen as a consequence of the Taba attack in February that killed three South Korean tourists, Adella Ragab, economic advisor to the minister of tourism, told Reuters.

The Taba attack, on a bus that was travelling to Israel from St Catherine's Monastery, a popular tourist destination in South Sinai, was the first assault on tourists since former president Mohamed Morsi's ouster in July 2013 spurred an Islamist insurgency.

Egypt received around two million tourists in the first three months of 2014 — a 30 percent drop on the same period the previous year.

Tourism revenues, along with remittances and Suez Canal revenues, represent a main source for foreign currency in Egypt.

The ailing tourism sector, which represents 11 percent of the country’s gross domestic product, has seen several blows since the 2011 January uprising.

Most recently, Germany’s second-biggest airline, Air Berlin, suspended all flights to Sharm El-Sheikh until 30 April, citing deteriorating security conditions for foreign tourists.

The Ministry of Tourism then launched a series of precautionary measures to bolster security in Red Sea touristic cities.

Despite the ministry’s efforts to counter challenges facing the sector, revenues declined around 41 percent in 2013 compared to a year earlier, to register $5.9 billion.
 



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expat
17-04-2014 10:52am
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I am sure
we will soon listen to another fable of Mr. Zazou,how wonderful the egyptian-lybian or north korean tourism business ist evolving..... in the end,the people get,what they ask for and without the slighest security,dont dream of tourist
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Werner Gessner
16-04-2014 08:25pm
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It's no surprise
under all this circumstances, poor stability,insecurity, weak tourism Managment, nobody at the ministry seems to care ! NO, the minister of tourism blames his employees they are inflexible,to old,inefficient and need to be replaced. On TOP the minister resigned before the ITB Berlin,then he is coming back to his office; confusion after confusion ! Aya Sabouba truly aya Sabouba ...
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expat
19-04-2014 07:12pm
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?
hi sally, what exactly here is the news? its going on since 25.1.2011, a bunch of fools trying to re-animate a industry,which is in ruins since then...and for good reason,as untill now(no,untill february),the freaks refrained from targeting the logical targets,which is now over...soon we will close doors,either due to heroes coming back from syria and bombing,or due to local heroes..its only a little matter more of time
sally
18-04-2014 04:27pm
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spot on
Agreed Werner,it's a joke,The lack of organisation in this country beggars belief.No wonder people are scared to come.

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