São Paulo – Tourism revenues in Egypt shrank 15% in 2015 from 2014 to USD 6.1 billion, the online version of daily Al Ahram quoted the Ministry of Tourism as saying this Tuesday (19). Tourist numbers slid 6% to 9.3 million.
Terror attacks were one factor that stemmed foreign tourist inflow to the North African country. In October, a Russian plane went down in the Sinai Peninsula, in a suspected attack that has since been claimed by fighters with the self-proclaimed Islamic State. The 224 people on board the aircraft died. Additionally, the depreciation of Russia’s currency, the ruble, had an adverse effect on Egypt’s tourism industry, since the majority of visitors are Russian.
Tourism is one of the most important areas of Egyptian economy. The country’s goal is to return to the revenue and visitor levels seen in 2010, the best year ever for the industry. That year, Egypt welcomed 14.7 million foreigners, grossing USD 12.5 billion in the process.
*Translated by Gabriel Pomerancblum
