COVID-19 to cost Egypt’s tourism $1 billion a month
Tourism generates $12 billion dollars in annual revenue for Egypt. And now, Egypt’s tourism industry is expected to sustain massive losses because of the COVID-19 pandemic. Due to the lockdown and restrictions on travel, it is certain that losses will reach one billion dollars a month.
The loss of 400,000 tourists, who, on average, would spend ten nights, will result in a four-million-night-loss monthly for Red Sea resorts.
Over 200,000 workers have lost their jobs, after many Red Sea hotels, tour firms, restaurants and cafes have closed their doors since the outbreak of the coronavirus epidemic.
Until a vaccine is discovered, industry experts say, the country’s tourism sector will not return to normal.
The experts also warned against the layoff of workers in the tourism industry, because it would negatively impact the sector later on, once the industry is able to operate again.
If layoffs occur now the sector will lose highly-trained employees who play a major role in providing professional services to the visitors.