Egypt’s investment plan for tourism records LE5.2B in 2020/21 – Egypttoday

Egypt’s investment plan for tourism records LE5.2B in 2020/21 – Egypttoday

FILE: Australian delegation filming film to attract tourism in Luxor





CAIRO - 7 June 2020: Tourism sector's Investment plan during 2020/2021 declined 28.8 percent, recording LE 5.2 billion, down from LE 7.3 billion in 2019/2020, according to Minister of Planning and Economic Development Hala el-Saeed.

Saeed attributed the decline to the expected contraction of private investment, which constitutes about 84percent in the 2020/21 plan, compared to about 90 percent in the previous year.

This came in a report issued by the Ministry of Planning and Economic Development monitoring the investments of the tourism sector in the sustainable development plan in its third year 2020/2021 from the medium-term plan 2018-2019-2020-2021, especially in light of the coronavirus crisis that all countries of the world are currently facing its repercussions.

"Tourism sector is one of the main sectors generating foreign exchange through the proceeds of the spending of tourists during their visit to tourist destinations in Egypt,“ Saeed added in a statement, Tuesday.

She emphasized that the sector actively contributes to generating added value and in providing many job opportunities directly in its various activities, and indirectly in many sectors and activities related and overlapping with it, as well as the important