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Egypt's tourism revenue drops

  • Published by Ozgur Tore

Adela Ragab, economic adviser to Egypt's Minister of Tourism said last week that Egypt’s tourism revenues dropped 43 per cent in the first quarter of 2014 to $1.3 billion (Dh4.7 billion).

egypt-tourThe tourism sector, which has been damaged by the political instability that followed a popular uprising that toppled autocrat Hosni Mubarak in 2011, suffered another blow in February when a coach carrying Korean tourists was bombed by extremists. Ragab said around 15 countries issued travel warnings against Egypt after the incident, which contributed to a 30 per cent drop in the number of tourists in the first quarter to two million people.

The sector saw a 41 per cent drop in revenue last year to $5.9 billion compared to the year earlier after hundreds were killed in the violence that followed the army’s overthrow of President Mohammad Mursi in July.
Source: Reuters

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