Hurghada tourism drops 53% y-o-y in 1H2020, Sharm 51%

Hotel occupancy rates in Hurghada and Sharm El Sheikh nosedived 53% and 51%, respectively, in 1H2020 amid a pandemic-induced slump in tourism, according to a Colliers Internationalreport(pdf). Cairo and Alexandria were less hard-hit than the Red Sea resort towns, with occupancy rates in the capital declining 47% and 46% in Alexandria. The report expects a rebound in occupancy rates in the next two years, penciling in a 56% jump in Cairo, followed by Hurghada (53%), Sharm El Sheikh (52%), and Alexandria (44%).