Egypt’s tourism revenues slumped 40.5 pct in 9 months

The Central Bank of Egypt (CBE) revealed that Egypt’s tourism revenues retreated 40.5% or $2.2 billion in the last nine months, recording $3.3 billion, compared to $5.5 billion during the same period of the last year.

Tourism revenues also dropped 44% or $430.6 million in the third quarter of 2016 reaching $550.5 million against $981.1 million in Q3-15.

Travel expenses grew $346 million during Q3-16 to stand at $1.2 billion compared to $854 million in the same quarter of 2015.

source: Mubasher