Egypt takes new approach to tourism
Egypt's long-suffering tourism business might finally be getting some good news: The private sector will take a crack at handling one of the country's ancient sites.
One day after yet another report came out summarizing the wretched state of Egypt’s tourism industry, government officials said they will turn management of the Giza pyramids over to the private sector.
The prime minister’s office said Sept. 6 the decision is part of an effort to develop the archaeological area to a level befitting its status as a World Heritage site.
Tourism in Egypt has been suffering severely for the past five years. According to an economic performance report issued Sept. 5 by the Ministry of Planning, the tourism sector shrank by 34% during the period from January to March, compared with 9.3% during the same period last year.
Moody’s Investors Service issued a report in July stating that Egypt’s tourism sector brought in revenues of $551 million during the period from January to March, which is the smallest amount since the comparable quarter in 1998.
