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.