The consortium of tourism companies, Egy Tourism, intends to establish an investment fund for the companies with a capital of EGP 2bn in the coming period. Chairperson of the alliance, Ahmed El-Bakry, said that the fund aims to move Egyptian tourism ahead, noting that the initial closure will be worth EGP 20m. Al-Bakry noted that Saudi Arabia has developed a new system for booking and does not require Egyptian tourism companies, which will be implemented starting next year. He pointed out that the current ceiling is 135 passports for economic pilgrimage and 90 passports for the 5-star trip. He stressed that the alliance will consider all the problems and challenges facing the sector to ensure that the largest number of companies join the alliance.

Source: Daily News Egypt June 01, 2017 09:19 UTC