The Egyptian tourism sector has reached the highest revenue rates over the past year, surpassing $13 billion, the country's Central Bank said on Tuesday
CAIRO (Pakistan Point News / Sputnik - 31st March, 2020) The Egyptian tourism sector has reached the highest revenue rates over the past year, surpassing $13 billion, the country's Central Bank said on Tuesday.
"The tourism sector has achieved the highest income in its history during the past 2019 year that exceeds $13 billion, comparing to the 2010 last high rate of $12.5 billion and $11.6 billion in 2018," the Central Bank administration said as quoted by the Middle East News Agency (MENA).
According to local news outlets, over 13 million tourists visited Egypt during the past year, with an increase of 1.8 million people compared to 11.3 million in 2018.
Egypt is now heading for a drop in tourist visitors as the country battles the deadly coronavirus outbreak. The country imposed a curfew last week to stem the spread of COVID-19, which has been contracted by 656 people, with 41 dying from it.
Like most Mediterranean countries, Egypt's economy is highly dependent on tourism for income and foreign exchange reserves. Due to the COVID-19 pandemic, all of the world's economies are now going through a critical phase, facing numerous economic challenges.
