Egypt's tourism revenue drops by nearly HALF as holidaymakers avoid coast

• There has been a 30 per cent drop in visitors so far this year


• Tourism revenue is down by a huge 43 per cent
  


• A terror attack on Korean tourists in February has hit the industry hard
  


• A British security team was sent to Sharm el Sheikh to assess the situation

Egypt’s tourism revenues have dropped a massive 43 per cent so far this year due to ongoing unrest keeping holidaymakers away.

The troubled country confirmed that tourism revenues had almost halved for the first three months of this year – traditionally when travellers flock to its beaches for some winter sun.

Adela Ragab, economic adviser to Egypt’s Minister of Tourism, said the country earnt £700million from tourism in the first quarter of 2014, which is significantly less compared to other years.

Empty sands: There has been a 30 per cent drop in the number of tourists visiting Egypt so far this year

The country has been unstable since President Hosni Mubarak was deposed in 2011, but the tourism sector had managed to remain relatively bouyant – partiuclarly in the well-protected Red Sea Resorts.

However, in February a coach carrying Korean tourists was bombed by Islamist extremists, which caused countries around the world to impose sever restrictions even on tourists hoping to visit the popular resort towns of Sharm el Sheikh and Hurghada.

Ragab said around 15 countries issued travel warnings against Egypt after the incident, which contributed to a 30 per cent drop in the number of tourists in the first quarter to two million people.

The sector saw a 41 percent drop in revenue last year to £3.5billion compared to the previous year after hundreds were killed in the violence that followed the army’s overthrow of Islamist President Mohamed Mursi in July. 

While some countries have banned all travel to Egypt, the Foreign and Commonwealth Office (FCO) has reiterated that Britons can still holiday in Sharm el Sheikh.

However, it has advised against all but essential travel to the South Sinai area with the exception of the Sharm el Sheikh perimeter barrier, which includes the airport and the areas of Sharm el Maya, Hadaba, Naama Bay, Sharks Bay and Nabq.

However tourist attractions, such as the ancient St Catherine’s Monastery – a popular day trip from Sharm el Sheikh – are now off-limits.

The FCO warns: ‘We believe that terrorists continue to plan attacks. Attacks could be indiscriminate and could occur without prior warning.’

While most attacks are aimed at security forces and government buildings, the FCO warns: ‘Attacks targeting foreigners can’t be ruled out.’

Earlier this month a British security team was sent to the popular Egyptian resort to assess the terror threat ahead of the tourist season.

So far its advice to travellers is unchanged and the FCO explains on its website that: ‘Enhanced security measures are in place to protect the Sharm el Sheikh resort areas.’

It adds: ‘Egyptian military are situated in Sharm el Sheikh international airport, at check points around the perimeter of Sharm el Sheikh and throughout the South Sinai Governorate. Routine security checks are being performed on entry into the airport and the police are carrying out vehicle checks in Sharm el-Sheikh.’

Egypt's tourism revenue drops by nearly HALF as holidaymakers avoid coast