Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Electricity Ministry says new power cable for Giza area operational    Egypt exports first high-tech potato seeds to Uzbekistan after opening market    Egypt's Al-Sisi, Italian defence minister discuss Gaza, security cooperation    Egypt's FM discusses Gaza, Nile dam with US senators    Aid airdrops intensify as famine deepens in Gaza amid mounting international criticism    Health minister showcases AI's impact on healthcare at Huawei Cloud Summit    On anti-trafficking day, Egypt's PM calls fight a 'moral and humanitarian duty'    Federal Reserve maintains interest rates    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    Egypt welcomes 25-nation statement urging end to Gaza war    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    58 days that exposed IMF's contradictions on Egypt    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Tourism investments expected to reach 6.6 billion EGP
Published in Youm7 on 04 - 09 - 2011

CAIRO: The number of tourists visiting Egypt rose 14.3 percent and tourism revenue rose 15.6 percent during the first half of the 2010-2011 fiscal year, reported the Egyptian Ministry of Planning in a recently released report.
Tourism activity in the second half of the fiscal year, however, is severely affected by the January 25 Revolution as tourists canceled hotel reservations in waves and some countries banned all travel to Egypt.
Tourism numbers fell 45 percent and tourism revenue fell 34 percent during the third quarter of the fiscal year.
Investment in tourism is estimated to exceed earlier predictions and eclipse 6.6 billion EGP (U.S. $1.1 billon). Tourism investment last year reached 4.4 billion EGP (U.S. $739 million).
The report said that private sector investments in tourism will represent 90 percent of total tourism. The remaining 10 percent of investments will focus on tourism stimulation programs as well as infrastructure and facility development for tourism.
The 2011-2012 tourism sector plan aims to increase the number of tourists to Egypt to 14 million, increase the total number of nights stayed to 140 million and collect U.S. $12 billion in tourism revenue.
Security conditions in Egypt are expected to remain fluid in the fourth quarter of 2010/2011 and experts predict no more than 1.5 million visitors and U.S. $800 million in revenue.
In the fourth quarter of last fiscal year 3.5 million visitors came to Egypt bringing in U.S. $2.86 billion in revenue.
The fourth quarter numbers in 2010-2011 were disappointing: 2.24 million tourists visited Egypt and stayed 21.8 million nights bringing in U.S. $1.85 million.
Developing a tourism strategy means a discussion of procedures to face the consequences of the January 25 Revolution, the report stated. The Egyptian government will initiate a number of projects to encourage foreign ministers to halt travel bans on Egypt.
Egyptian government also will focus on stimulating internal tourism and attracting Gulf country visitors.


Clic here to read the story from its source.