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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

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    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey

    Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable

    Cedi Summit comes off today at Alisa Hotel

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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    CBOD calls for a more structured supply of Forex for petroleum products

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    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

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    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

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    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

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Egypt’s Tourist Numbers Drop 51.2 Pct in First Half of 2016 – State Agency

bycitibusinessnews
September 27, 2016
in Africa, North Africa, Top Stories
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Egypt lost over half of its tourists in the first half of 2016 compared with the same period last year, the official statistics agency said on Monday.

Egypt welcomed 2.3 million tourists in the period from January to June 2016, compared to 4.8 million tourists in the same period last year, the Central Agency for Public Mobilisation and Statistics said in a statement issued on the occasion of World Tourism Day, commemorated each year on September 27.

The agency mainly ascribed the decline, which totaled to 51.2 percent, to the decrease in number of Russian tourists by 54.9 percent and tourists from the UK by 14.9 percent.

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In 2015, 37.7 percent of Egypt’s visitors came from Eastern Europe, with Russian tourists at 67.9 percent, while 35.1 percent came from Eastern Europe, with Germany holding the largest share at 31.2 percent.

In October, a charter flight operated by Russian airline Metrojet broke up midair 23 minutes after takeoff from Egypt’s Sharm el-Sheikh Airport as it headed to St. Petersburg, killing all 224 passengers and crew on board.

Moscow suspended all flights to Egypt pending an investigation into the crash. The UK followed suit, halting all flights to and from Sharm el-Sheikh.

As tourist numbers plunged in 2016, the number of nights spent by tourists dropped to 13.5 million nights, compared to 45.9 million nights during the same period of 2015, marking a 70.5 percent decrease.

Egypt’s tourism industry, a vital source of foreign currency, has been hit hard since the plane crash. The country had already been struggling to recover from economic problems and a shortage of foreign currency reserves since the 2011 uprising that toppled former president Hosni Mubarak.

The Egyptian government adopted an urgent plan to revive tourism, which aims to attract 10 million tourists into Egypt by the end of 2017.

–

Credit: All Africa

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