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Egypt expects lower tourist numbers in 2009
Egypt received 12.8 million tourists in 2008, with a 15.3 percent increase in tourist arrivals, said Tourism Minister Zoheir Garranah at a press conference this week, but the financial crisis appears to be taking its toll.
Over the year, the industry grew at a rate of 25 percent until the global economic crisis hit in September. Since then, tourism numbers began dropping in the last four months of 2008.
The global tourism sector grew by only 2 percent.
In fiscal year 2008, tourism contributed around 7 percent to Egypt's GDP with revenues rising 16 percent to reach $11 billion.
Read the full article here.
