El Gouna, Red Sea recently hosted a FVW Workshop on tourism in Egypt. Tapping into the potential German market, the event provided a direct platform for German travel companies to connect with Egyptian tourism leaders. The workshop witnessed the participation of 25 German travel agents.
Hisham Zaazou, Minister of Tourism, Egyptian Tourism Federation said: “With our infrastructure well in place, 20% of Egypt’s foreign currency is derived from tourism, it is the first industry that can rebound and help the Egyptian economy. Germany has always been a solid partner and a top producing source destination. Figures from this destination show promise and confidence; nearly 540,000 German tourists visited Egypt between January and June 2012, with a YOY increase of 33.4%, and a 40.6% increase in room nights.”
Elaborating further Mahmoud Zuaiter, CEO of International Hotels Holdings (IHH) affirmed an optimistic outlook saying: “Total revenue generated by Orascom Development hotels increased by EGP 100 million compared to last year, driving profitability upwards to EGP 44 million. Occupancy rates climbed 6% YOY (July 2011 – July 2012), narrowing the gap to almost 20% less than 2010. We have also seen a 10% rise in pricing (total revenue per available room) and demand from new markets, indicating that we are well on the way to recovery.”