Thursday, 1 May 2014

Egypt's new aviation hope

Full article in JPG format:
page 24/25 & page 26

There is no denying that the past three years have been a torrid time for Egyptian tourism. Hopes of a quick recovery after the 2011 Arab Spring were dashed by last year’s military coup against the Muslim Brotherhood. The bombing of a tourist bus in Sinai this February further unnerved visitors, although militants have predominantly directed their wrath at security forces.

Tourism revenue fell 43% year-on-year in the first quarter of 2014 to just $1.3 billion, accelerating the downturn triggered by last July’s overthrow of Islamist President Mohamed Morsi. Full-year revenue had already fallen 41% in 2013, when just 9.5 million tourists visited the country compared with 14.7 million back in 2010...