Egypt’s tourism revenue drops 43%

Egypt’s tourism revenue drops 43%

Modern view of Egypt
Modern view of Egypt

The first quarter of 2014 is not boding well for Egyptian tourism. As per recent statistics from the country’s economic adviser, Adela Raga, Egypt’s tourism revenues dropped 43% in the first quarter of 2014 to US$1.3 billion, as reported in Reuters.

The tourism sector, which has been damaged by political instability, suffered another blow in February when a coach carrying Korean tourists was bombed by Islamist extremists. Ragab said around 15 countries issued travel warnings against Egypt after the incident, which contributed to a 30% drop in number of tourists in the first quarter to two million people.

The sector saw a 41% drop in revenue last year to US$5.9 bn compared to the year earlier after hundreds were killed in violence that followed the army’s overthrow of Islamist President Mohamed Mursi in July.

Gary Marshall
Written by:
Gary Marshall
Posted On:
Posted In: