TDA not paying marketing companies abroad may hinder its promotional campaigns

Is Egypt in trouble with global ad agencies? The Tourism Development Authority (TDA) is allegedly 15 months behind on paying global advertising agencies some USD 16 mn for overseas promotional campaigns, Al Borsa reports, quoting JWT Chief Hany Shoukry. JWT, which signed a USD 68 mn, three-year contract with the TDA in 2015, says it has received EGP 8.5 mn of what it’s owed, but has spent EGP 24 mn out of pocket to date.