Although uncertainty prevails in Egypt’s tourism market due to the negative repercussions of the COVID-19 pandemic, a report issued by Colliers International real estate group expects tourism to recover starting in the last quarter of 2020. The report added that revenue from hotel occupancy declined this year in Cairo, Alexandria, Hurghada and Sharm al-Sheikh, but is expected to recover in 2020. Hurghada recorded the highest decline in hotel revenue in 2020, with a 50 percent drop. Colliers expects occupancy rates in Alexandria hotels, meanwhile, to reach 62 percent, allowing revenue to rise to 43 percent. The Ministry of Tourism, in coordination with the Ministry of Health, agreed to resume foreign tourism starting July for the Red Sea, South Sinai and Matrouh governorates.

Source: Egypt Independent July 15, 2020 12:45 UTC