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Al-Ahram Weekly 28 Oct. - 3 Nov. 1999 Issue No. 453 
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Published in Cairo by AL-AHRAM established in 1875 |
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Al-Ahram Weekly 28 Oct. - 3 Nov. 1999 Issue No. 453
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| Published in Cairo by AL-AHRAM established in 1875 |
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Egypt Region International Economy Opinion Culture Features Profile Study Special Sports People Time Out Chronicles Cartoons Letters Growth engine
PARTICIPANTS at a seminar on tourism organised by Cairo University's Centre for the Study of Developing Countries (CSDC) last week agreed that Egypt's tourism sector has attracted substantial investments over the past few years due to accelerated privatisation as well as extensive marketing campaigns.The Egyptian government has undertaken several positive steps which have noticeably improved the tourist industry's investment climate, said Mohamed Sakr, professor of economics at Cairo University.
"The government issued several resolutions in 1996, such as allowing the operation of chartered flights, facilitating the issuance of building permits for hotels and tourist establishments and allowing private investment in infrastructure projects, such as airports under the Build, Operate and Transfer (BOT) and Build, Operate, Own and Transfer (BOOT) systems-- which have all helped to enhance the business climate," Sakr said.
Tourism is one of the Egyptian economy's "engines of growth", according to Kamal El-Menoufi, deputy dean of the Faculty of Economics and Political Science. Not only is it one of the primary sources of foreign exchange earnings, but it also plays an important role in creating new job opportunities, according to El-Menoufi. "It creates primary or direct employment in areas such as lodging, restaurants and sightseeing facilities. Indirect employment is also created in the construction and manufacturing industries," El-Menoufi said.
