Tourism to recover to glory level, experts agree
Egypt, Economics, 5/29/2002

US based CNN said yesterday that experts agree that tourism in Egypt will recover to the level of its glory days despite developments in the Middle East crisis.

The international news network added that tourism is a significant factor in Egypt's economy, representing 10-15 percent of the GDP.

The report was part of an investigation into how the Middle East crisis has affected the development of Egyptian industry.

CNN said that travel agencies experienced a 40 percent drop of Western European and American tourists but had combated it by exploring new markets such as Russia, Ukraine, and the Czech Republic.

The report said that Egyptian officials were aware of the effects upon foreign investments as well. It quoted Egyptian Minister of Foreign Trade Youssef Boutros Ghali as saying that the current deterioration of the situation in the region gives investors the false impression that Egypt is involved in the Middle East crisis.

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