Egypt's investment plan for tourism records LE5.2B in 2020/21

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Tue, 07 Jul 2020 - 12:05 GMT

FILE: Australian delegation filming film to attract tourism in Luxor

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 role that the tourism sector plays in expanding the Egyptian constructed area because of the proliferation of tourist destinations in multiple and sprawling areas, they have become important centers of tourist attraction.

 

Meanwhile, the minister noted that the most important measures taken to reduce the negative effects of the coronavirus crisis on the tourism sector; Included the commitment of the tourist chambers to pay salaries to the employees and ensure their stay in addition to donating to buy 160,000 units to conduct a rapid medical examination for workers in the tourism sector.

 

She also added that the measures included the reduction of the daily presence of workers in Cairo and Giza hotels by 50 percent, and the application of proper sterilization in all hotels and tourist facilities at the level of the Republic And provide health awareness measures for the various hotel workers, in addition to the Egyptian Federation of Chambers of Commerce agreement with a world expert house to prepare a long-term strategy for developing the tourism sector.

 

The report of the Ministry of Planning and Economic Development referred to efforts to advance the tourism sector and develop its ability to combat the negative impacts of the coronavirus pandemic.

 

She explained that the state continues to support the tourism sector in 20/21 year by maintaining the facilitative and incentive packages for the sector that it embarked upon in the aftermath of the crisis, the most important of which is the continuation of providing banking facilities in the form of initiatives from the Egyptian Central Bank and national banks to finance the replacement and renewal of hotel and tourist facilities on concessional terms, and to continue to make financial settlements with the owners of hotels and tourist facilities for those who are not organized, and to intensify training programs for workers in the tourism sector.

 

It also obligates owners of hotel and tourist establishments to maintain employing the current workers, while developing ports to receive visitors and upgrading the level of services provided to meet the intense competition between tourist destinations, after recovering from the coronavirus crisis, in addition to intensifying programs of tourism promotion and activation according to innovative technological methods, and the full operation of the visa system Online entry, as well as the effective application of green tourism and ecotourism standards within the framework of the concept of sustainable development.

 

On the other hand, the report of the Ministry of Planning and Economic Development referred to the agreement of the European Bank for Reconstruction and Development (EBRD) and the United Nations World Tourism Organization of the United Nations (UNWTO) to choose Egypt among a number of countries in a plan to revive the tourism sector in the countries that were affected by the coronavirus. These countries are Egypt, Albania and Armenia Croatia, Georgia, Greece, Jordan, Lebanon, Montenegro, Morocco, Tunisia, Turkey and Uzbekistan.

 

The report pointed out that this plan is based on three main groups that have been adopted by the World Tourism Organization, which include economic recovery, marketing and promotion, and strengthening and building the resilience of institutions. This plan contributes to providing technical assistance to the sector. The plan also includes measuring the impact of the coronavirus, and protocols to ensure safety, hygiene ,and  enhanced security for tourists and employees, in addition to preserving human capital, as well as adaptation and enhancing inclusiveness.

 

 

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