Egypt tourism receipts hit $940 mln in 3 months: CBE

CAIRO – 1 November 2017: Egypt saw $940 million in tourism revenue in the past three months as the government manages to carry out an economic reform plan that suits world markets, governor of the Central Bank of Egypt (CBE) Tarek Amer said Tuesday.

Addressing a meeting of the Canada Egypt Business Council, Amer said revenue in the same period last year hit only $220 million.

Egypt saw gains that make it one of the most attractive emerging markets with economic growth rate of five percent in the current fiscal year ending in June 2018, Amer said.

Over the past 11 months, the country’s cash flow hit $80 billion while the foreign investments touched $19 billion in the same period, he added.