{"id":562238,"date":"2021-05-17T04:15:51","date_gmt":"2021-05-17T04:15:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/egypt-a-member-of-the-fragile-four-club\/"},"modified":"2021-05-17T04:15:51","modified_gmt":"2021-05-17T04:15:51","slug":"egypt-a-member-of-the-fragile-four-club","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/egypt-a-member-of-the-fragile-four-club\/","title":{"rendered":"Egypt a member of the \u201cfragile four\u201d club"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Egypt is one of the countries most vulnerable to a tourism slowdown: <\/strong>Egypt is among four \u201cfragile\u201d emerging economies that are particularly vulnerable to the latest outbreaks of covid-19, analysts tell <a href=\"https:\/\/www.reuters.com\/business\/spectre-another-lost-tourism-season-haunts-emerging-markets-2021-05-13\/\">Reuters<\/a>. Along with Turkey, Tunisia, and Sri Lanka, Egypt is heavily dependent on tourism for hard currency. With a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b7042bbd-cedd-44cb-aefb-6ea18b372cd4\">widening current account deficit<\/a>, the country would be hard hit by another summer of weak tourism revenues.<\/p>\n<p><strong>\u201c[Tourism] is a big topic for any country with a current account deficit,\u201d<\/strong> Generali Asset Management\u2019s senior emerging market strategist Guillaume Tresca told Reuters. \u201cIf you think about tourism in emerging markets, you have to focus on weak countries with weak external balances that rely on tourism \u2014 Tunisia, Turkey, Egypt.\u201d<\/p>\n<p><strong>No slowdown in our crystal ball?<\/strong> Egypt is targeting 8 mn tourists and USD 8 bn in revenues this year, Tourism Minister Khaled El Enany told <a href=\"https:\/\/www.thenationalnews.com\/business\/travel-and-tourism\/egypt-targets-one-million-tourists-a-month-and-8bn-in-revenue-minister-says-1.1223820\">the National<\/a>, a slightly more ambitious target than the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/146743c8-8fc0-46d6-ab09-1788aff56eff\">USD 6-7 bn<\/a> revenue goal announced by Deputy Minister Ghada Shalaby last month. Monthly tourism revenues registered USD 500 mn in April, with almost 500k tourists visiting during the month, El Enany told <a href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-keen-tourism-recovery-by-year-end-visitor-numbers-rise-2021-05-16\/\">Reuters<\/a>.<\/p>\n<p><strong>Revenues began to see a slow recovery at the end of 2020:<\/strong> Tourism income rose to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b7042bbd-cedd-44cb-aefb-6ea18b372cd4\">USD 987 mn during the final quarter of 2020<\/a>, up 25% from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a80efc38-b49b-4f60-906a-1d118896b74b\">the previous quarter<\/a>.<\/p>\n<p><strong>But there\u2019s a long way to go:<\/strong> This was less than a third of the USD 3.1 bn in revenues booked in the equivalent period the year before. S&P Global Ratings <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1fd134ec-624a-4402-b295-075903f03f50\">said this month<\/a> that it doesn\u2019t expect the tourism sector to recover until 2023, contributing to current account receipts remaining below pre-pandemic levels for another two years. The government hopes that arrivals will recover to the 2019 levels of 13 mn <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/093c4b68-9f7e-42a5-bcaa-05f89fb4b473\">by fall 2022<\/a>.<\/p>\n<p><strong>And continued covid-19 travel curbs could hold back targets:<\/strong> One in three countries and territories worldwide are now closed to tourism as countries impose new travel restrictions to quell a new wave \u2014 and several new variants \u2014 of the virus, Reuters reports.<\/p>\n<p><strong>Egypt has remained only mildly affected by the latest wave:<\/strong> International travel between Kuwait and Egypt remains banned amid efforts to contain the spread of the virus, while Egypt is no longer on a list of countries from which travel to Saudi Arabia is banned as the kingdom resumes international flights today. The UK government <a href=\"https:\/\/www.gov.uk\/guidance\/red-amber-and-green-list-rules-for-entering-england\">advises people not to travel to Egypt<\/a> and mandates a 10-day quarantine period for people traveling from the country.<\/p>\n<p><strong>It doesn\u2019t help that Egypt's vaccine rollout is l<\/strong><strong>agging behind other countries in the region:<\/strong> Both Egypt and Tunisia have so far vaccinated less than 5% of their citizens. This compares to 20-30% in Greece, Italy, and Spain. \u201c[A slow rollout] is indeed a hidden risk factor economically, socially and politically for several EMs, since after a difficult 2020 it is tough to lose two seasons in a row,\u201d Union Investment fund manager Sergey Dergachev told Reuters.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt is one of the countries most vulnerable to a tourism slowdown: Egypt is among four \u201cfragile\u201d emerging economies that are particularly vulnerable to the latest outbreaks of covid-19, analysts tell Reuters. Along with Turkey, Tunisia, and Sri Lanka, Egypt is heavily dependent on tourism for hard currency. With a widening current account deficit, the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7377],"tags":[72,397,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562238","post","type-post","status-publish","format-standard","hentry","category-tourism","tag-enterpriseam","tag-khaled-el-anany","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"f6405eda-1bf2-43d9-8236-f947f937034b","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[562230],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt a member of the \u201cfragile four\u201d club - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/egypt-a-member-of-the-fragile-four-club\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt a member of the \u201cfragile four\u201d club\" \/>\n<meta property=\"og:description\" content=\"Egypt is one of the countries most vulnerable to a tourism slowdown: Egypt is among four \u201cfragile\u201d emerging economies that are particularly vulnerable to the latest outbreaks of covid-19, analysts tell Reuters. Along with Turkey, Tunisia, and Sri Lanka, Egypt is heavily dependent on tourism for hard currency. With a widening current account deficit, the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/egypt-a-member-of-the-fragile-four-club\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-17T04:15:51+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/egypt-a-member-of-the-fragile-four-club\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/egypt-a-member-of-the-fragile-four-club\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt a member of the \u201cfragile four\u201d club\",\"datePublished\":\"2021-05-17T04:15:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/egypt-a-member-of-the-fragile-four-club\/\"},\"wordCount\":485,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"Khaled El Anany\",\"tourism\"],\"articleSection\":[\"Tourism\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/egypt-a-member-of-the-fragile-four-club\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/egypt-a-member-of-the-fragile-four-club\/\",\"name\":\"Egypt a member of the \u201cfragile four\u201d club - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2021-05-17T04:15:51+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/egypt-a-member-of-the-fragile-four-club\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/egypt-a-member-of-the-fragile-four-club\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/egypt-a-member-of-the-fragile-four-club\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Egypt a member of the \u201cfragile four\u201d club\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Egypt a member of the \u201cfragile four\u201d club - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/egypt-a-member-of-the-fragile-four-club\/","og_locale":"en_US","og_type":"article","og_title":"Egypt a member of the \u201cfragile four\u201d club","og_description":"Egypt is one of the countries most vulnerable to a tourism slowdown: Egypt is among four \u201cfragile\u201d emerging economies that are particularly vulnerable to the latest outbreaks of covid-19, analysts tell Reuters. 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The three resurgent markets are competing with Spain mostly for German and British tourists, the newswire notes. As we noted previously, Spanish coastal cities in particular are taking a\u2026","rel":"","context":"In &quot;Tourism&quot;","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":629118,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/22\/egypt-tunisia-turkey-are-diverting-british-tourists-away-from-spains-benidorm\/","url_meta":{"origin":562238,"position":1},"title":"Egypt, Tunisia, Turkey are diverting British tourists away from Spain\u2019s Benidorm","author":"enterpriseam admin","date":"22 May 2018","format":false,"excerpt":"Resurging tourism markets in Egypt, Tunisia, and Turkey are luring British tourists away from Spanish coastal city Benidorm, leading to a 2.2% y-o-y drop in the number of arrivals during the first half of May alone, according to Spanish hotel management group Hosbec. British tourists are mainly drawn by the\u2026","rel":"","context":"In &quot;Tourism&quot;","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":629205,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/24\/tourism-revenues-up-83-3-y-o-y-in-1q2018-arrivals-up-37-1-state-official-to-reuters\/","url_meta":{"origin":562238,"position":2},"title":"Tourism revenues up 83.3% y-o-y in 1Q2018, arrivals up 37.1% -state official to Reuters","author":"enterpriseam admin","date":"24 May 2018","format":false,"excerpt":"Tourism revenues reportedly up 83.3% y-o-y to USD 2.2 bn in 1Q2018, an unnamed government official told Reuters. Tourist arrivals also grew 37.1% y-o-y to 2.38 mn visitors. Tourism in Egypt has been slowly recovering from the political upheaval and security concerns that had caused a downturn in the sector\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625618,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/09\/future-projections-see-turkish-tourism-recovering-faster-than-egypt-tunisia\/","url_meta":{"origin":562238,"position":3},"title":"Future projections see Turkish tourism recovering faster than Egypt, Tunisia","author":"enterpriseam admin","date":"9 August 2018","format":false,"excerpt":"Future projections for air travel picked up by the UK\u2019s Travel Weekly shows that while British tourists are returning to Egyptian, Turkish, and Tunisian holiday destinations, some are recovering better than others. Turkey is leading the pack, with a 66.4% y-o-y growth in UK leisure bookings last year, according to\u2026","rel":"","context":"In &quot;Tourism&quot;","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":646344,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/12\/egypt-failed-to-fill-tourism-void-left-by-turkey-el-shaer\/","url_meta":{"origin":562238,"position":4},"title":"Egypt failed to fill tourism void left by Turkey -El Shaer","author":"enterpriseam admin","date":"12 June 2017","format":false,"excerpt":"Egypt failed to attract tourists who opted to move away from destinations like Turkey recently, Red Sea Tourism Investment Association vice president Hossam El Shaer told Al Shorouk. The slight rebound in arrivals figures is because of the relative degree of stability Egypt saw recently, El Shaer says. He blames\u2026","rel":"","context":"In &quot;Tourism&quot;","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600899,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/13\/tourism-revenue-could-rise-by-2-of-gdp-in-the-coming-years\/","url_meta":{"origin":562238,"position":5},"title":"Tourism revenue could rise by 2% of GDP in the coming years","author":"enterpriseam admin","date":"13 February 2019","format":false,"excerpt":"Tourism revenues could wipe out current account deficit- Capital Economics: Revenue generated in Egypt\u2019s tourism sector could rise by as much as 2% of GDP in the coming years, wiping out the current account deficit, according to a report by Capital Economics. Tourism receipts may increase to as much as\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=562238"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562238\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/562230"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=562238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=562238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=562238"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=562238"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=562238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}