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Egypt Tourism Report Q4 2009Published by: Business Monitor International Published: Oct. 1, 2009 - 55 Pages Table of Contents
AbstractTourism OverviewAfter buoyant, but somewhat weaker, growth in foreign visitor arrivals to Egypt in 2008, the tourismsector has experienced a significant downturn so far this year. Official data show that tourist numbersdeclined by 8.7% in the first half of 2009, compared with the corresponding period last year, whiletourism revenue is reported to have fallen by 9.5% year-on-year (y-o-y). However, the data show someimprovement compared with Q109, when tourist arrivals were down by 12% y-o-y and revenues were17% weaker than Q108. Bird And Swine Flu Updates According to the World Health Organization (WHO), as of the beginning of August 2009, Egypt hadconfirmed 27 human deaths caused by the H5N1 bird flu virus, out of 83 known human infections inEgypt - the largest number outside Asia. Infections have continued to edge up this year, with 32 peopleinfected in the first seven months of 2009. As regards the H1N1 swine flu virus, Egypt had reported 78cases of the virus and no deaths as of early July 2009. Forecast Scenario This quarter, BMI has adjusted up its forecast for foreign visitor arrivals, and we now expect an annualdecline of 11% in 2009 - sizeable, but less significant than our previous forecast of -16% y-o-y - to about11.4mn visitors. A slight pick up in arrivals is anticipated in 2010, with relatively strong growth from2011. The downturn and recovery broadly mirror economic conditions in key source markets, especiallythe eurozone, Russia, Central and Eastern Europe (CEE), and the UK. Added to this background andcompared with our previous forecasts, we now anticipate continued weakness of the Egyptian poundthroughout 2009, helping the country’s competitiveness as a tourist destination. By contrast, however,BMI forecasts modest appreciation of the pound against the euro and the US dollar during 2010. EgyptAir From October 2009, the Egypt’s national flag carrier EgyptAir will start new flights between Cairo andAlmaty, Kazakhstan, operating four flights per week. Kempinski Hotels The Geneva-based hotel company Kempinski Hotels has announced the launch a second property inEgypt. The hotel company has signed a management agreement for the Kempinski Hotel el-Nil in Cairo.It is under construction and scheduled to open in November 2009. Get Full Details About This Report >> |
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