Cairo - Mubasher: A recent report by the Central Bank of Egypt (CBE) has showed an increase in tourism revenues during the second quarter of fiscal year 2016/2017 by 8.9%.
Tourism returns went up to $825.8 million during the three-month period ended 31 December 2016, compared to $758.2 million in Q1-16/17.
The sector’s foreign exchange revenues declined from $11 billion in 2010 to $3.4 billion in 2016.
The CBE attributed the rise in revenues to the increase in hotel bookings by 9%.
The report also showed that the sector’s proceeds declined by 41.5% during the first half of FY16/17 to $1.6 billion down from $2.7 billion in the same period last year.
