EGP 6bn losses in tourism sector in Sharm El-Sheikh in 3 months: South Sinai Governor

Last updated: January 30, 2016 1:56 pm

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Following the Russian plane crash in Sinai, fears have been reignited that Egypt’s barely-recovering tourism industry has taken another major blow – especially as the crash comes just two months after Mexican tourists were accidentally targeted and killed by the Egyptian armed forces. Photo Mayada Abu Al-Nader

Governor of South Sinai Major General Khaled Fouda said the tourism sector in Sharm El-Sheikh recorded losses of EGP 6bn over the past three months.

As part of his participation in the opening session of the forum held in Sharm El-Sheikh by the United Arab Banks (UAB) Thursday, Fouda said the losses occurred at the rate of EGP 2bn per month and that tourism was mostly affected by the incident of the Russian plane crash in Sinai on 31 October.

There has been strong security procedures during the past to counter terrorism within the governorate, expecting improvements in tourism in Egypt during the upcoming period. He pointed out that the tourisms sector is one of the most important resources of the state that provides foreign exchange. The improvement of this sector will leave a positive impact on the state’s resources of foreign exchange.