Egypt’s tourism revenues declined by 66 percent in the first quarter of 2016 compared to last year, with total earnings amounting to just USD 500 million, down from last year’s USD 1.5 billion, Reuters reported. During the first quarter, 1.2 million tourists visited Egypt, dropping from 2.2 million in 2015, economic adviser to the ministry of tourism Adla Ragab told Reuters. The new figures come against the backdrop of continually declining revenues since the 2011 uprising that ousted autocrat Hosni Mubarak from the presidency and triggered widespread instability in the country, scaring both tourists and foreign investors away. More than 14.7 million tourists traveled to Egypt prior to the uprising, with that number falling to 9.8 million in 2011. The tourism sector, a vital part of the economy and a key source of hard currency, has also been hard-hit by last year’s downing of a Russian airliner which was claimed by a group affiliated with the Islamic State, and killed all 224 people onboard. Russia halted all flights to Egypt following the incident but has vowed to recommence flights as soon as sufficient security measures are implemented. In his latest…
