Egypt’s tourism at intermediate risk amid COVID-19 crisis: EIB’s Economic Vulnerability Index

Egypt’s tourism at intermediate risk amid COVID-19 crisis: EIB’s Economic Vulnerability Index

Egypt, Morocco, and Tunisia are the only countries in the region to experience an intermediate risk to tourism activity. Countries that depend heavily on tourism face elevated economic risks amid the coronavirus crisis, said the Economic Vulnerability Index of the European Investment Bank (EIB) released on Thursday.

The index results showed the pandemic and restrictions on the movement of people have wiped out tourism in many countries. A global recession is expected to diminish tourist revenues long after restrictions are eased. The index revealed the highly affected countries depend on tourism for 60 percent of their GDP.

The EIB index measures the vulnerability in countries outside the European Union (EU).

Half of low-income countries and 25 percent of middle-income countries face the highest risk of COVID-19 outbreak, while