The Egypt announced plan of looking for other tourism markets such as Japan and the BRIC (Brazil, Russia, India, and China) countries to further increase tourism profit and meet the USD 25 Billion revenue planned for 2017.
Tourism minister Mounir Fakhry Abdul Noor, the country
already has a number of tourism plans such as reducing airport fees, launching
aggressive tourism campaigns funded by the product sector, and the introduction
of new tourism projects such as the Sharm Al Shaikh eco-tourism Project.
At present, there have already been favorable results
largely due to the 32 percent increase in tourist arrivals in the first quarter
of this year.
Likewise, tourists now spend an average of 11.6 days in
that period noting the influx of Russian, Polish, and Ukrainian tourists
according to the minister.
Analysts such as Gavind Samson of Christie & Co Mena
noted that among the countries involved in the Arab uprisings, it seems Egypt
is recovering the fastest. He also mentioned that to achieve the same number of
tourist arrivals as before the uprising, hotel rooms would have to be cheaper
Abdul Noor recalled how Egypt accommodated 14.7 million
tourists in 2010 before the revolt bringing USD 12 Billion of tourism income.
Shortly after the uprising in 2011, the tourist arrivals
dropped to 9.8 million and income slumped to USD 8.8 billion. This reflects a
33 percent drop in the number of visiting tourists.
The tourism minister also added that there is a private
sector fund set up by Egypt's tourism industry to help fund tourism promotion
According to Abdul Noor, the Egyptian pound's value could
go down by up to 10 percent but this nevertheless reflects positively on the
Despite the fact that there have been budget concerns in
the country, it still prides itself in having little outstanding debts as well
as having strong credit worthiness allowing the country to borrow more funds,
said Abdul Noor at the conference.
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