{"id":574074,"date":"2020-08-30T04:01:41","date_gmt":"2020-08-30T04:01:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/30\/egypts-reliance-on-tourism-weighs-on-economic-vulnerability-report\/"},"modified":"2020-08-30T04:01:41","modified_gmt":"2020-08-30T04:01:41","slug":"egypts-reliance-on-tourism-weighs-on-economic-vulnerability-report","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/30\/egypts-reliance-on-tourism-weighs-on-economic-vulnerability-report\/","title":{"rendered":"Egypt\u2019s reliance on tourism weighs on economic vulnerability -report"},"content":{"rendered":"

<\/a> Egypt\u2019s economy faces \u201cintermediate risk\u201d from covid because of its reliance on tourism<\/strong>, the European Investment Bank (EIB) said in its Economic Vulnerability Index report (pdf)<\/a>. That places us among the 63% of all middle-income countries who face that level of risk. \u201cThe pandemic and restrictions on the movement of people have all but wiped out tourism \u2026 and a global recession is expected to diminish tourist revenues long after restrictions are removed,\u201d says the report, which assesses countries outside the EU. Morocco and Tunisia also face similar threat levels, with the general rule being that countries highly reliant on tourism are facing more \u201celevated risks.\u201d<\/p>\n

This comes as tourism stages a modest comeback of late:<\/strong> As of last week 126k tourists<\/a>had visited the country<\/a> since inbound tourism resumed on 1 July and both charter and scheduled flights are back<\/a>.<\/p>\n

But we\u2019re still facing challenges \u2014 TUI cancels Egypt holidays: <\/strong>TUI on Friday cancelled all charter flights<\/a> that were scheduled to depart to Egypt on or before 13 September.<\/p>\n

A drop in remittances, another key source of foreign currency, also heightens Egypt\u2019s economic vulnerability<\/strong> as the country is \u201creliant on this form of revenue,\u201d says the EIB.<\/p>\n

Other risk factors:<\/strong> Egypt\u2019s \u201chealth system and demography\u201d and the capacity of its banking sector were judged by EIB to be highly vulnerable to the covid-19 fallout.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s economy faces \u201cintermediate risk\u201d from covid because of its reliance on tourism, the European Investment Bank (EIB) said in its Economic Vulnerability Index report (pdf). That places us among the 63% of all middle-income countries who face that level of risk. \u201cThe pandemic and restrictions on the movement of people have all but wiped […]<\/p>\n","protected":false},"author":1,"featured_media":574075,"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":[8572],"tags":[107,5776,72,760,2380,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-574074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-covid-19","tag-economic-vulnerability-index-report","tag-enterpriseam","tag-european-investment-bank","tag-speed-round","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"8ec78293-bc83-4e6e-805f-c0469283922c","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/8\/233.jpg","photo_position":"above","related_issue":[574069],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s reliance on tourism weighs on economic vulnerability -report - 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\/2020\/08\/30\/egypts-reliance-on-tourism-weighs-on-economic-vulnerability-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s reliance on tourism weighs on economic vulnerability -report\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s economy faces \u201cintermediate risk\u201d from covid because of its reliance on tourism, the European Investment Bank (EIB) said in its Economic Vulnerability Index report (pdf). That places us among the 63% of all middle-income countries who face that level of risk. \u201cThe pandemic and restrictions on the movement of people have all but wiped […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/30\/egypts-reliance-on-tourism-weighs-on-economic-vulnerability-report\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-30T04:01:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/233.jpg?fit=%2C&ssl=1\" \/>\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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/30\/egypts-reliance-on-tourism-weighs-on-economic-vulnerability-report\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/30\/egypts-reliance-on-tourism-weighs-on-economic-vulnerability-report\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s reliance on tourism weighs on economic vulnerability -report\",\"datePublished\":\"2020-08-30T04:01:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/30\/egypts-reliance-on-tourism-weighs-on-economic-vulnerability-report\/\"},\"wordCount\":234,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/30\/egypts-reliance-on-tourism-weighs-on-economic-vulnerability-report\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/233.jpg?fit=%2C&ssl=1\",\"keywords\":[\"covid-19\",\"Economic Vulnerability Index report\",\"EnterpriseAM\",\"European Investment Bank\",\"SPEED ROUND\",\"tourism\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/30\/egypts-reliance-on-tourism-weighs-on-economic-vulnerability-report\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/30\/egypts-reliance-on-tourism-weighs-on-economic-vulnerability-report\/\",\"name\":\"Egypt\u2019s reliance on tourism weighs on economic vulnerability -report - 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This is an upwards revision of 0.4 percentage points from the bank\u2019s June\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/345.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573425,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/05\/egypts-tourism-losses-could-top-2-of-gdp-this-year-imf-says\/","url_meta":{"origin":574074,"position":1},"title":"Egypt\u2019s tourism losses could top 2% of GDP this year, IMF says","author":"enterpriseam admin","date":"5 August 2020","format":false,"excerpt":"Egypt could lose out on tourism revenues worth more than 2% of its GDP this year due to global travel restrictions, the International Monetary Fund (IMF) said in its 2020 External Sector Report. The forecast is based on a scenario laid out in a UN World Tourism Organization (UNWTO) study\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/8\/18.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575864,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/02\/tourist-arrivals-to-egypt-fall-more-than-60-in-1h2020-unwto\/","url_meta":{"origin":574074,"position":2},"title":"Tourist arrivals to Egypt fall more than 60% in 1H2020 -UNWTO","author":"enterpriseam admin","date":"2 November 2020","format":false,"excerpt":"FROM THE DEPARTMENT OF THE OBVIOUS- Tourist arrivals to Egypt dropped 62.3% y-o-y in 1H2020 as covid-19 travel restrictions and border closures vaporized international travel, according to the World Tourism Organization\u2019s latest World Tourism Barometer (pdf). Egypt closed its airspace to most inbound and outbound commercial flights between March and\u2026","rel":"","context":"In "Speed Round"","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":555007,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/28\/egypts-remittance-inflows-on-track-to-hit-record-high-this-year-outpace-mena-peers\/","url_meta":{"origin":574074,"position":3},"title":"Egypt\u2019s remittance inflows on track to hit record high this year + outpace MENA peers","author":"enterpriseam admin","date":"28 November 2021","format":false,"excerpt":"Remittance inflows to Egypt are on course to hit a record high this year as higher oil prices and the global economic recovery fuel an increase in transfers. Transfers from Egyptians abroad are projected to increase almost 13% to USD 33 bn this year, making Egypt one of the world\u2019s\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/241.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572498,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/28\/egypt-in-line-for-ebrd-unwto-emergency-tourism-funding\/","url_meta":{"origin":574074,"position":4},"title":"Egypt in line for EBRD, UNWTO emergency tourism funding","author":"enterpriseam admin","date":"28 June 2020","format":false,"excerpt":"Egypt in line for EBRD, UNWTO emergency tourism funding: Egypt is among a list of countries being considered by the European Bank for Reconstruction and Development (EBRD) and the UN World Tourism Organization (UNWTO) for emergency finance to support its tourism sector through the covid-19 pandemic, the EBRD said in\u2026","rel":"","context":"In "Speed Round"","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":564257,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/19\/say-it-isnt-so-part-ii\/","url_meta":{"origin":574074,"position":5},"title":"Say it isn\u2019t so, part II","author":"enterpriseam admin","date":"19 August 2021","format":false,"excerpt":"Benefits of the return of Russian tourists will be muted \u2014 for now, says Capital Economics: While the return of direct flights between Russia and Egypt\u2019s resorts will give Egypt\u2019s tourism some much needed reprieve, any economic benefits from the move \u201cwill be limited,\u201d Capital Economics said in a report\u2026","rel":"","context":"In "SPEED ROUND: TOURISM"","block_context":{"text":"SPEED ROUND: TOURISM","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-tourism\/"},"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\/574074","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=574074"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/574074\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/574069"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/574075"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=574074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=574074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=574074"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=574074"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=574074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}