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FinancialNews


  • 28-01-16

    Egypt's tourism industry fails to pick up

    (MENAFN) Egyptian Taba, the location of Egypt's busiest border crossing with neighboring Israel, witnessed its hotels' income decline below 5 percent over January.

    Basically, the tourism publicity campaigns conducted by the Ministry of Tourism have failed to attract Egyptians to Sharm El-Sheikh and other areas in the Red Sea including Taba.

    In particular, Egypt has provided tourism companies with a six-month deferment in outstand debt owed to insurance, water, and electricity companies, but with no real gain.

    Little more than a bus depot and a luxury hotel, Taba is a frequent vacation spot for tourists, especially those from Israel on their way to other destinations in Egypt.

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