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Egypt's tourism revenue to decline, minister says
- Egypt: Tuesday, October 28 - 2008 at 08:02
Egypt's minister of tourism said he expects tourism levels to fall this year in Egypt because of the global financial crisis and its impact on the country's economy, Bloomberg has reported. Zohair Garanah warned that the country's tourism industry, especially the private sector, is 'panicking' because of the economic turmoil and is starting a price war, which will harm the industry in the long run. He acknowledged that there could be a decline in demand, but said the country has to manage the crisis to limit the damage as much as possible.
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Jeff Florian, Senior ReporterTuesday, October 28 - 2008 at 08:02 UAE local time (GMT+4)
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