Egypt confirms the "recovery of tourism". This is the impact of the collapse of "Thomas Cook"

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He added that Egyptian tourism has recovered, but the sector aspires more in terms of the number of tourists, revenues and market diversity.

The tourism sector is a pillar of the Egyptian economy, a source of livelihood for millions of citizens and an important source of strong currency, but has had some difficulties in recent years.

"C & # 39; s an increase in tourism figures, according to the central bank advertiser, which is higher than the 2010 revenue of about $ 11.6 billion. We have recovered digitally but we can reach even more.

Revenues from Egyptian tourism increased by 28.6 percent in fiscal year 2018-2019 to $ 12.6 billion, compared with 9.8 billion in the 2017-2018 fiscal year, according to bank data central.

"The fundamentals we have are stronger than the figures we have. In fact, there is a 30 percent increase in revenue and number of tourism and this is a confirmation of the ability of tourism to recover."

"The numbers in North America are on the rise, Germany is on the rise. Europe in general is on the rise and we are starting to recover even cultural tourism".

A government document seen by Reuters in August showed that Egypt aims to increase the number of tourist arrivals to 12 million in the fiscal year 2019-2020, up about 11% compared to to the previous fiscal year, and to increase the number of tourist nights to 127 million nights in 2019. -2020 from 113 million nights a year ago.

Thomas Cook

The runner-up is also the managing director of the largest Egyptian tourism company, Wings Tourism, which told Reuters that over 95% of Thomas Cook's tourists had already returned home.

He added: "The rest are dozens of tourists who want to continue their travels. We expect other companies to come in to make up for Thomas Cook's numbers, mainly because there is real demand for the Egyptian market".

Thomas Cook, the world's oldest travel company, collapsed in September with $ 2.1 billion in debt due to numerous unfortunate agreements that blocked his efforts to counter online rivals.

The runner-up, who took over the presidency of the Egyptian Federation of Tourism Chambers in January, said that the number of hotels dealing with "Thomas Cook" is estimated at hundreds.

He continued: "Over the next three months I expect the market to recover from the collapse of Thomas Cook with the entry of other companies to compensate for their increase in demand for the Egyptian destination."

The Blue Sky group, agent of Thomas Cook in Egypt, announced in September the cancellation of reservations until April 2020 for 25,000 tourists in Egypt.

Market diversity

On the other hand, he stated that Egypt is working to diversify the markets that attract tourists and also the target segments.

"We have targeted other markets and hope that all markets operate in Egypt and fly to Sharm el-Sheikh. Markets like Kazakhstan did not exist in Sharm el-Sheikh, and also in Ukraine, and today they are two of the most important markets in the city".

The temptation of the Egyptian tourist destination increased following the decision of the Central Bank to liberalize the pound in November 2016, which halved the value of the local currency and increased the competitiveness of the sector.

New hotel rooms

The runner-up revealed that Egypt has implemented up to 220 thousand hotel rooms in various tourist destinations and around 200 thousand rooms.

He added: "This year we had 10-15 thousand new hotel rooms entered into the field of Egyptian tourism investments. We hope that all the data will add the same number in 2020, if not more".

"With the beginning of the positive vision of tourism, we have found many hotels and projects that have been blocked and Egyptian and foreign investors have returned to work."

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He added that Egyptian tourism has recovered, but the sector aspires more in terms of the number of tourists, revenues and market diversity.

The tourism sector is a pillar of the Egyptian economy, a source of livelihood for millions of citizens and an important source of strong currency, but has had some difficulties in recent years.

"According to central bank advertisers, there is an increase in tourism figures, which is higher than the 2010 revenue of around $ 11.6 billion.

Revenues from Egyptian tourism increased by 28.6 percent in fiscal year 2018-2019 to $ 12.6 billion, compared with 9.8 billion in the 2017-2018 fiscal year, according to bank data central.

"The fundamentals we have are stronger than the figures we have. In fact, there is a 30 percent increase in revenue and number of tourism and this is a confirmation of the ability of tourism to recover."

"The numbers in North America are on the rise, Germany is on the rise. Europe in general is on the rise and we are starting to recover even cultural tourism".

A government document seen by Reuters in August showed that Egypt aims to increase the number of tourist arrivals to 12 million in the fiscal year 2019-2020, up about 11% compared to to the previous fiscal year, and to increase the number of tourist nights to 127 million nights in 2019. -2020 from 113 million nights a year ago.

Thomas Cook

The runner-up is also the managing director of the largest Egyptian tourism company, Wings Tourism, which told Reuters that over 95% of Thomas Cook's tourists had already returned home.

He added: "The rest are dozens of tourists who want to continue their travels. We expect other companies to come in to make up for the number of Thomas Cook, in particular that there is real demand on the Egyptian market".

Thomas Cook, the world's oldest travel company, collapsed in September with $ 2.1 billion in debt due to numerous unfortunate agreements that blocked his efforts to counter online rivals.

The runner-up, who took over the presidency of the Egyptian Federation of Tourism Chambers in January, said that the number of hotels dealing with "Thomas Cook" is estimated at hundreds.

He continued: "Over the next three months I expect the market to recover from the collapse of Thomas Cook with the entry of other companies to compensate for their increase in demand for the Egyptian destination."

The Blue Sky group, agent of Thomas Cook in Egypt, announced in September the cancellation of reservations until April 2020 for 25,000 tourists in Egypt.

Market diversity

On the other hand, he stated that Egypt is working to diversify the markets that attract tourists and also the target segments.

"We have targeted other markets and hope that all markets operate in Egypt and fly to Sharm el-Sheikh. Markets like Kazakhstan did not exist in Sharm el-Sheikh, and also in Ukraine, and today they are two of the most important markets in the city".

The temptation of the Egyptian tourist destination increased following the decision of the Central Bank to liberalize the pound in November 2016, which halved the value of the local currency and increased the competitiveness of the sector.

New hotel rooms

The runner-up revealed that Egypt has implemented up to 220 thousand hotel rooms in various tourist destinations and around 200 thousand rooms.

He added: "This year we had 10-15 thousand new hotel rooms entered into the field of Egyptian tourism investments. We hope that all the data will add the same number in 2020, if not more".

"With the beginning of the positive vision of tourism, we have found many hotels and projects that have been blocked and Egyptian and foreign investors have returned to work."

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