On top of the low rates of foreign tourism and the closure of many hotels and resorts over 11 months due to coronavirus, the tourism and hotel sector in the Red Sea is still suffering from the continued phenomenon of price burning between hotels and tourism companies. Recently, the price of a one-week Hurghada trip declined to around 300 to 350 euros, including airline tickets. These price reductions deeply damage the tourism sector and have brought forth demands for theMinistry of Tourism and the Competition Protection Authority to intervene and stop the phenomenon of price burning. In the Red Sea sector alone, experts have estimated a nine billion dollar loss since the pandemic began. Since reopening in July, the country has reported an uptick in tourism, but levels remain nowhere near Egypt’s average.

Source: Egypt Independent February 11, 2021 09:45 UTC