Tuesday,21 November, 2017
Current issue | Issue 1367, (2 - 8 November 2017)
Tuesday,21 November, 2017
Issue 1367, (2 - 8 November 2017)

Ahram Weekly

On the rebound

On the rebound
On the rebound
Al-Ahram Weekly

TOURISM has benefited from the floatation of the Egyptian pound as Egypt has now become a cheaper destination for many tourists around the world. Tourism revenues jumped 211.8 per cent year-on-year to $5.3 billion in the first nine months of 2017, compared to $1.7 billion the year before.

The number of tourists who visited Egypt in that time jumped 55.3 per cent to 5.9 million, with European visitors reaching 3.2 million, an 85 per cent increase from the previous year, Reuters reported. 

However, the figures are still below the peak level of 2010 when 14 million tourists visited the country, generating $12.5 billion in revenues.

The devaluation of the currency and the upswing in tourism have also encouraged investment in the sector. The Hilton chain announced in August a plan to expand its hotels in Egypt to 30 from a current 17 over the next seven to 10 years.

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