And speaking of the tourism upswing, German tourists continued to book more holidays in Hurghada and Marsa Alam in October, German tourism portal FVW says, citing figures from reservations provider Traveltainment. Bookings to Hurghada rose 83% y-o-y, while Marsa Alam bookings surged 90% y-o-y during October. This is the third consecutive month to see a boom in bookings from German tourists; Marsa Alam enjoyed a particularly healthy y-o-y leap of 121% during September, albeit from a low base.
More from Enterprise
The National Bank of Egypt and Banque Misr just hiked rates on CDs — moves that could see the EGP gain against the USD
NBE and BM both hiked rates on CDs by 125…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Here’s why “temporary listings” are all the rage right now
The government plans to list Misr Travel and Egoth in…
Kiwe gets Central Bank green light to launch nationwide
The startup is backed by our friends at EFG Hermes,…