THIS EVENING: Egypt’s tourism is dealt a blow with reservations plummeting by 50% due to the regional crisis

Good afternoon, wonderful people. We hope the first workday of the week has treated you better than Israel’s war in Gaza is treating the tourism industry.

Egyptian travel giant Travco has seen cancellations for reservations through the end of the year hit the 50% mark as holidaymakers look to other corners of the world on concerns above Israel’s war on Gaza, Asharq Business reports.

Who’s canceling? Holidaymakers from Germany, England, Belgium, and Sweden are the primary sources of cancellations, the business news outlet quotes Travco boss Hamed El Chiaty as saying.

Watch this space: Cancellations could spill over to next year, as bookings for the new year have slowed down significantly since the outbreak of hostilities, El Chiaty reportedly added.

THE BIG STORY ABROAD remains the war in Israel, where western media report that Israel is stepping up the “urgency” with which it is warning residents to flee to the south (nearer the border with Israel) as IDF troops “expand” operations on the ground in Gaza for a second day. Israeli PM Benjamin Netanyahu may not be calling it a full-on ground invasion just yet (he’s too busy throwing Shin Bet under the bus for its failure to prevent Hamas’ 7 October attack), but it’s certainly starting to feel like one.

Need more? Check out the live blog at the New York Times if you don’t want to wait for tomorrow’s EnterpriseAM.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

• The Central Bank of Egypt (CBE) has eased its restrictions on credit card use abroadthat triggered a flight to the greenback and caused the EGP to weaken significantly in the parallel market.
• The private-sector minimum wage will rise by 17% starting January 2024 after the National Council for Wages (NCW) decided to raise the threshold for the third time in less than a year to support workers amid soaring inflation.
• President Abel Fattah El Sisi warned against the potential widening of the conflict after two drones crashed in Taba and Nuweiba on Friday morning, causing explosions and injuring six people.

?️ TOMORROW’S WEATHER- Looks like the temperature will be rising to a high of 32°C in the daytime and dropping to 23°C in the evening, according to our favorite weather app.