Despite the Rouble's retreat against the US dollar by the end of 2014, Russia led Egypt's tourism sector providing 3m tourists, according to economic consultant to the Minister of Tourism, Adela Ragab. Ragab said Russian tourism is still on top of the sector, despite the political circumstances Egypt has experienced in the last four years, proving Russian tourists' confidence in Red Sea and South Sinai resorts. The Ministry of Tourism exempted Russian tourists from the $25 entrance visa charges, from mid-January to April. "We seek attracting Russian high-spending tourists during the next period, and we will keep offering incentives to our partners in the Russian tourism sector during the current and next period, depending on the circumstances," Ragab said. Chairman of Egypt Tourism Authority, Samy Mahmoud, stated in an interview that the authority will work on increasing advertisement for Egyptian resorts in Eastern Europe and South and East Asia countries. According to the sub-accounts unit at the Tourism Ministry, the average spending by Russian tourists in Egypt is $55 per night, with over 98% of tourists using charter flights. Ragab believes the Russian market is considered one of the most promising markets to Egyptian tourism, in spite of the Ruble crisis. Ragab added that "the Ministry of Tourism's plan is to raise the Russian tourist flow to more than 3m annually". Russian President Vladimir Putin arrived in Egypt on Sunday for a two-day visit to enhance economic cooperation between the two countries. "We have determined the subscription value of two tourism exhibitions in Moscow in March with €1,350 per participant, whether from the chamber of companies and travel or tourism agents or hotels," according to an official at Egypt Tourism Authority. Negotiations between the Ministry of Tourism, the Central Bank of Egypt (CBE) and both Ministries of Supply and Industry and Foreign Trade, are ongoing on ways to use the Ruble in trade between the two countries, according to the official, adding that the ministry did not receive any response from these bodies till now.
