The Egyptian government and the private sector have to move quickly to ensure Egyptian tourism firms replace the Turkish ones in the Russian tourism market.
Atef abdel Latif -head of the South Sinani Investor’s Association- also urged the government and private sector to ensure Egyptian companies to enter into partnerships with the Russian ones.
He suggested a number of alternatives to fill this gap including that major tourism companies open offices and branches in Russia in coordination with resorts and hotels in the Red Sea and South Sinai area.
“Concurrently, the Ministry of Aviation should prepare a strategy for when the ban on Russian tourism to Egypt ends,” the head added.
According to the statement, Abdel Latif clarified that Turkish companies operating in the field of tourism in Russia were monopolising Russian tourism to Egypt.
Egypt receives 3.5 million Russian tourists annually, representing 35% of tourism in the country and making Russians the largest single group of tourists to Egypt from any country.
Abdel Latif noted that The Russian government cancelled licenses for Turkish tourist companies in Russia, which organise trips to Egypt.
On November 24, Turkey shot down a Russian military aircraft, alleging that it violated its airspace near the border with Syria.
Accordingly, Russian President Vladimir Putin signed a decree to put sanctions in place to restrict the economic activity of Turkish companies and firms controlled by Turkish nationals on.