According to “Bloomberg” news agency, the
recent figures confirm the recovery of the Egyptian tourism sector and its
emergence from the recession that occurred after the downing of a Russian
passenger plane over Sinai in October 2015, prompting Russia and other
countries to ban flights to Egypt.
Egypt’s Tourism sector revenues arose 1.5
billion dollars in the second quarter ended on June 30, compared to 510 million
dollars in the same period last year. Full-year revenue rose 16 % to $ 4.4
billion that has a great positive impact on the national economy. In the last
few months, the Egyptian economy has been booming thanks to tourism and
remittances from overseas after the dollar crisis has been surpassed, according
to figures released by Bloomberg.
Tourism investment is an engine of growth
in many countries of the world, especially those that have achieved strong
economic growth. This is due to the tourism sector's characteristics in
increasing the movement of foreign exchange into the economy, which will affect
the strength of the national currency and the strength of its economy.
Increasing the level of confidence in the economy leads to an increase in the
volume of investment in the tourism sector and its affiliated sectors. Tourism
is an attractive factor for foreign funds and the tourism sector is one of the
most important sectors that reflects confidence in different economies,
especially foreign investments.
Egypt's tourism sector reached 773,000
people in 2016, or 2.9 % of Egypt's workforce, according to the World Travel
and Tourism Council.
General Hany Okab, the Chairman of Marsa
Alam Airport company said that the total number of passengers that has arrived
since the beginning of year 2017 to Marsa Alam city has been increased by 78%
in comparison with the total number of passengers in year 2016 on the same
period with 49% increase in the number of plane traffic and movement. The
tourist delegations are from 14 different countries. Germans are on the top of
the list with increase 53% than last year. Ukrainians and Slovaks are 2 new
nationalities that arrived to the city with total number of 7,131 passenger. He
also said that we are expecting an increase in the total passenger arrivals to
the city by the end of this year.
The number of tourist delegations that
arrived since the beginning of August to date to, the Red Sea generally and
Hurghada city specifically, from 25 different countries, arrive through direct
and regular flight, which amounted to 79 thousand tourists and exported these