The Egyptian authorities are rapidly looking for ways to compensate for the losses in the tourism market due to the “leaving” of tourists from Russia and Ukraine. At the same time, the country of the pharaohs has already been covered by a financial crisis caused by the same circumstances – primarily, rising prices for fuel and basic foodstuffs. Recall that the Egyptian pound “survived” a rapid fall this week – by 14% at once, the largest in five years. And ahead in Egypt they fear a “grain” crisis.
At the same time, the country needs foreign tourists even more urgently, since this is one of the main sources of foreign exchange earnings, along with imports of agricultural products and traffic through the Suez Canal. Meanwhile, the tourist market of the country of the Pyramids has already lost at least 30% of tourists coming to the country – this is exactly the volume given by the markets of Russia and Ukraine.
Therefore, the country's authorities are not going to save on attracting tourists. In particular, Egypt announced an 8-week advertising campaign in the markets of the UK, Germany, Italy, the US and France, designed to attract tourists from these markets.
The financing of charters will also continue. This program was supposed to be completed on May 1, however, according to the latest decision, charter flights will be supported until October 31, 2022. The amount of the subsidy will vary from 1.5 thousand to 3.5 thousand dollars, depending on the flight range and occupancy. It is possible that charter flights from Russia will also receive it – which, as Viktor Voropaev, Consul General of Russia in Hurghada, reassured the Egyptians, there is a chance to restore.
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