Gov’t backtracks on USD 60 entry visa hike: The government decided yesterday to backtrack on hiking tourist visas to USD 60, and will maintain the cost of single-entry visas at USD 25, while multiple-entry visas will be repriced at USD 60, Al Borsa reports. Yesterday’s decision follows local and international outrage by tourism operators that an increase in visa fees would further reduce tourist arrivals, sources tell the newspaper. Tourism Minister Yehia Rashed had previously acknowledged that the price hikes drew the ire of the tourism sector — including attendees of the ITB Berlin Travel Expo earlier this month.
More from Enterprise
Central Bank of Egypt looks to renew USD 2 bn Kuwaiti deposit as regional conflict stalls FDI conversions
The maturing USD 2 bn deposit is expected to be…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Ceasefire optimism triggers EGX30 rally and EGP recovery
The EGP gained around 2.5% on the greenback by the…
IBF & Company doubles down on logistics with Techno Metal acquisition
Plus: Lucky lands USD 23 mn in Series B round,…