Last Update 21:27
Monday, 22 July 2019

Egyptian tourism loses $0.6 billion in March

While March was a relative improvement, the sector continues to suffer a slump in tourist arrivals

Dalia Farouk, Thursday 12 May 2011
Khan al-Khalili
Shop owners read newspapers as they sit on the sidewalk in the Khan al-Khalili area of Cairo (Photo: REuters)
Share/Bookmark
Views: 2066
Share/Bookmark
Views: 2066

Tourist arrivals to Egypt in March 2011 declined by 60 per cent below last year, a report issued by CAPMAS indicated. 

As a result, tourism revenues in March plummeted dramatically, ending 65 per cent lower than last year’s numbers at $352 million.

March was still, however, a relative improvement over the two preceding months.

This decline in tourism amounts to a $1 billion loss of revenue in January and February, with a $1.6 billion overall slump in Egypt’s main foreign exchange earner in the first quarter.

Egypt's tourism revenues are forecasted to decline by $4 billion in 2011, fuelled by the growing social and political turmoil, a report by CI Capital concluded.

Tourist arrivals in March reached 535,000 as compared to 1.3 million in March of last year.

Eastern European tourists had the highest decline with 86.2 per cent, followed by Western Europeans, who dropped by almost half.

 

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.