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Tourism is one of the leading sources of income, crucial to Egypt's economy.At its peak in 2010, the sector employed about 12% of workforce of Egypt, [1] serving approximately 14.7 million visitors to Egypt, and providing revenues of nearly $12.5 billion [2] as well as contributing more than 11% of GDP and 14.4% of foreign currency revenues.
The government actively promotes foreign tourism since it is a major source of currency and investment. The political instability since January 2011 caused a reduction in tourism, [128] but the next year it was rising. [129] In Upper Egypt, tourists that "provided one of the most important sources of income besides farming has dried out". [130]
A viral post shared on X claims Colorado Republican Rep. Lauren Boebert purportedly said Egypt owns the Panama Canal. Verdict: False The claim is false and originally stems from an account on X ...
At Egypt's Red Sea resorts, visitor numbers are well below previous years. Tourism accounts for up to 15% of Egypt's national output, and officials said it was losing around $1 billion each month ...
The Economy of Egypt suffered from the COVID-19 recession. Tourism, which employs one in ten Egyptians and contributes about 5% of the GDP, has largely stopped, while remittances from migrant workers abroad (9% of GDP) are also expected to fall. [226]
Now that Egypt President Hosni Mubarak's 30-year-rule has ended, one question is when will tourists return to the country? Egypt's economy relies heavily on
Egypt: As of 1 July 2020, Egypt is officially open for tourism. [138] As of 15 August, all passengers must have a negative COVID-19 test within 72 hours before arrival. [139] Ethiopia: Ethiopia has reopened the airport for international arrivals. Passengers will need to bring a negative PCR test taken within 5 days of arrival.
Egypt's cabinet has approved a draft law to eliminate tax exemptions for state entities in a bid to attract private investment, a cabinet statement said on Wednesday, but the law appeared to ...