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Egyptian tourist decline continues to slow in summer Visits are still a third down on 2010 but year-on-year drops are lessening with each passing month, says date from Egypt's central bank
Tourist arrivals in Egypt fell 29 per cent year-on-year in June 2011 but the decline is slowing, data from the Central Bank of Egypt showed this week. The annual drop in tourism has improved significantly over the six months since January's uprising. May's figures showed a 41 per cent drop on tourist numbers for the same month last year. The number of tourist arrivals dropped 13 per cent year-on-year in the financial year ending June 2011, with the second half of that financial year alone witnessing a 40 per cent drop in the number of tourist arrivals. Commentators said they expected the slowing annual decline to continue when July and August figures are revealed, reflecting an uptake in discounted holiday packages for Red Sea resorts, particularly notable in Eastern European visitors. "The performance of the tourism sector will continue to improve, as long as the security situation remains under control," said a note from investment bank Beltone Financial. "However tourism in Cairo will continue to falter, especially during parliamentary and presidential elections."
