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FinancialNews


  • 12-04-21

    Occupancy rate of Egypt’s hotels stands amid 40 percent, 45 percent

    (MENAFN)Reuters quoted an official from the tourism ministry as saying that the tenancy volume of Egypt’s hotels that run at half capacity in light of COVID-19 restrictions averaged amid 40 percent and 45 percent in the first quarter.

    Reuters calculations further reported that this total to an occupancy volume of about 25 percent if hotels were serving at full capacity.

    Tourism accounts for up to 15 percent of Egypt’s national output, and is a key source of foreign currency. The industry revenues dropped 70 percent in last year because of the Coronavirus pandemic, with numbers of visitors falling to 3.5 million from 13.1 million in 2019.

    According to deputy tourism minister Ghada Shalabi, Egypt received 500,000 tourists in the first quarter of the current year and obtained tourism revenues amid USD600 million and USD800 million.

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