End Times and Current Events
April 19, 2024, 08:38:41 am
Welcome, Guest. Please login or register.

Login with username, password and session length
News: "Search the scriptures; for in them ye think ye have eternal life: and they are they which testify of me." John 5:39 (KJB)
 
  Home Help Search Gallery Staff List Login Register  

Egypt's economy is collapsing, and no one is stopping it

Shoutbox
March 27, 2024, 12:55:24 pm Mark says: Shocked Shocked Shocked Shocked  When Hamas spokesman Abu Ubaida began a speech marking the 100th day of the war in Gaza, one confounding yet eye-opening proclamation escaped the headlines. Listing the motives for the Palestinian militant group's Oct. 7 massacre in Israel, he accused Jews of "bringing red cows" to the Holy Land.
December 31, 2022, 10:08:58 am NilsFor1611 says: blessings
August 08, 2018, 02:38:10 am suzytr says: Hello, any good churches in the Sacto, CA area, also looking in Reno NV, thanks in advance and God Bless you Smiley
January 29, 2018, 01:21:57 am Christian40 says: It will be interesting to see what happens this year Israel being 70 years as a modern nation may 14 2018
October 17, 2017, 01:25:20 am Christian40 says: It is good to type Mark is here again!  Smiley
October 16, 2017, 03:28:18 am Christian40 says: anyone else thinking that time is accelerating now? it seems im doing days in shorter time now is time being affected in some way?
September 24, 2017, 10:45:16 pm Psalm 51:17 says: The specific rule pertaining to the national anthem is found on pages A62-63 of the league rulebook. It states: “The National Anthem must be played prior to every NFL game, and all players must be on the sideline for the National Anthem. “During the National Anthem, players on the field and bench area should stand at attention, face the flag, hold helmets in their left hand, and refrain from talking. The home team should ensure that the American flag is in good condition. It should be pointed out to players and coaches that we continue to be judged by the public in this area of respect for the flag and our country. Failure to be on the field by the start of the National Anthem may result in discipline, such as fines, suspensions, and/or the forfeiture of draft choice(s) for violations of the above, including first offenses.”
September 20, 2017, 04:32:32 am Christian40 says: "The most popular Hepatitis B vaccine is nothing short of a witch’s brew including aluminum, formaldehyde, yeast, amino acids, and soy. Aluminum is a known neurotoxin that destroys cellular metabolism and function. Hundreds of studies link to the ravaging effects of aluminum. The other proteins and formaldehyde serve to activate the immune system and open up the blood-brain barrier. This is NOT a good thing."
http://www.naturalnews.com/2017-08-11-new-fda-approved-hepatitis-b-vaccine-found-to-increase-heart-attack-risk-by-700.html
September 19, 2017, 03:59:21 am Christian40 says: bbc international did a video about there street preaching they are good witnesses
September 14, 2017, 08:06:04 am Psalm 51:17 says: bro Mark Hunter on YT has some good, edifying stuff too.
View Shout History
Pages: [1]   Go Down
  Print  
Author Topic: Egypt's economy is collapsing, and no one is stopping it  (Read 1787 times)
Psalm 51:17
Global Moderator
Hero Member
*****
Offline Offline

Posts: 28357


View Profile
« on: August 22, 2013, 10:56:41 am »

http://www.nbcnews.com/travel/unrest-delivers-huge-blow-egypt-tourism-6C10974919?ocid=msnhp&pos=4
Unrest delivers huge blow to Egypt tourism
8/22/13

Heshmat Youssef used to make a decent living sailing foreign tourists down Egypt's Nile River. Since political unrest flared, business has dried up faster than water in the desert.

Riots and killings that spiked after the Aug. 14 crackdown against followers of ousted President Mohammed Morsi have delivered a severe blow to Egypt's tourism industry, which until recently accounted for more than 11 percent of the country's gross domestic product and nearly 20 percent of its foreign currency revenues.

The chairman of the Egyptian Airports Company, Gad el-Karim Nasr, said arrivals at Egyptian airports have dropped by more than 40 percent from Sunday through Tuesday compared to the same time the previous week. He said that in the same time-frame, 13,000 tourists, mostly from Germany and Italy, have left the Red Sea resorts of Sharm el-Sheikh and Hurghada — with only 3,000 new arrivals.

With governments in the U.S. and Europe advising their citizens to avoid Egypt, the impact threatens the livelihood of the one in eight Egyptians who earn their money from tourism.

"We want to live in stability and for tourism to come back," said Youssef, who hasn't seen holidaymakers in weeks. "Let us eat already. We are extremely tired."

The latest shock occurred just as Egypt's tourism industry, which injected more than $10 billion into the economy last year, was slowly recovering from the blow suffered from the 2011 uprising against ousted President Hosni Mubarak.

That uprising had already prompted some U.S. operators to pull out of Egypt.

But the drop in U.S. visitors, who favor ancient monuments like the Pyramids outside Cairo and the tombs and temples of the Nile Valley, did not affect the resilient European market. Every year millions of sun-starved Europeans swarm the Red Sea beaches far from the chaos of the cities.

Now, the European market, too, is drying up.

Major European travel companies have canceled bookings through October after televised scenes of chaos and European governments' warnings to avoid Egypt.

"We have canceled all trips to Egypt until Sept. 15," said Anja Braun, a spokeswoman for TUI, one of Germany's biggest travel operators, said the company has canceled all trips to Egypt until Sept. 15. Customers can either rebook a trip to a different destination free of charge or get their money back, she said.

Costa Crociere SpA, one of Italy's main cruise operators, has canceled all Red Sea cruises and stops in Egypt through the 2013-2014 winter season.

In France, the Association of Tour Operators suspended tours to Cairo, the Red Sea and all other cities until further notice.

Even the lucrative Russian market, which accounted for the largest share of foreign tourists at 14 percent, is feeling the effects.

However, relatively few Russians, Germans, Italians, Serbs and others who were already at their beach resorts when violence escalated this month chose to leave early. Tour operators in Slovenia, the Czech Republic, Denmark, Sweden and Norway did fly hundreds of vacationers back home early — sometimes to the dismay of the tourists who said the resorts were quiet and they didn't want to leave.

"There will be losses on all sides, from the souvenir vendors in Egypt to the hotel and bus operators and airlines to the travel agencies in Germany," said Torsten Schaefer of the German Travel Association. "It's too early to say how high the losses will be, but certainly there will be massive cuts for the population in Egypt and livelihoods will be destroyed."

Report Spam   Logged
Pages: [1]   Go Up
  Print  
 
Jump to:  

Powered by EzPortal
Bookmark this site! | Upgrade This Forum
Free SMF Hosting - Create your own Forum

Powered by SMF | SMF © 2016, Simple Machines
Privacy Policy