[Elder Of Ziyon - Israel News] 25% of Red Sea hotels in Egypt closed down

Egypt is heavily dependent on tourist dollars for its economy.

In other words, it is screwed.

Five hotels were shut down in Hurghada, and four others in Marsa Alam and Safaga on Tuesday, bringing the total number of hotels that have been closed in the Red Sea Governorate, due to the tourism recession, to 86 hotels out of 248 hotels.

As for the hotels that managed to stay open, the occupancy level has declined to 24 percent, making use of the domestic tourism, as well as the Czech Republic, whose administration decided to end its travel ban to Egypt.

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Posted By Elder of Ziyon to Elder Of Ziyon - Israel News at 9/13/2013 11:15:00 AM