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$30m direct monthly losses in Sharm El-Sheikh due to UK, Russian flight bans: Al-Zayat Minister of Tourism Hisham Zaazou estimated monthly losses due to European flight ban at EGP 2.2bn, besides EGP 1bn indirect losses
Head of the Egyptian Federation of Chambers of Tourism Elhamy El-Zayat estimated Sharm El-Sheikh's direct losses at $30m because of the British and Russian flight bans to Egypt. The losses are limited to the hotels and tour operators' losses, not taking into consideration purchase losses from bazaars, restaurants, cafes, and night clubs in the city, as well as food suppliers. The operating hotel capacity in Sharm El-Sheikh records 35% of total operating capacity in Egypt, at 225,000 rooms. The UK suspended tourist companies' trips to Sharm El-Shiekh at the beginning of November until the conclusive results of the investigation of the Russian plane that crashed on 31 October are revealed. Minister of Tourism Hisham Zaazou previously estimated Egypt's monthly losses due to the suspension of flights at EGP 2.2bn, and EGP 1bn in indirect losses. "British tourism was suspended in Sharm El-Sheikh but did not stop in Hurghada," El-Zayat said. Last week, the federation held a meeting with the Egyptian-British Chamber of Commerce (EBBC) to support the tourism sector in Egypt. The British Embassy in Egypt sent a representative to attend the meeting, which reflects that Britain is willing to lift the flight suspension to Sharm El-Sheikh. They expect to issue the decision before the end of December. El-Zayat believes the UK's decision to lift the flight ban will act as a strong factor in restoring international tourism to Sharm El-Sheikh. Head of the Tourism Activation Authority Samy Mahmoud said coordination with the foreign tourist agencies did not cease over the past few months, as confirmed in the reports issued by the authority's offices abroad. "The Ministry of Tourism will participate in a number of international exhibitions and conferences in coordination with the private sector," Mahmoud said. "TAA is supporting companies by reducing the cost of participation in these exhibitions." British Ambassador to Egypt John Casson participated in the commmoration of the Russian plane crash in Sharm El-Sheikh last week. "[Britain] will not leave Egypt [to] face its challenges alone, tourism will return to Sharm El-Sheikh as soon as possible," Casson said. Approximately one million British tourists visited Egypt in 2015, according to the Ministry of Tourism.
