|
Management can Pull off Crisis-laden Egyptian Tourism Sector, Experts
The Egyptian tourism industry has seen tremendous growth in the past few
years and is expected to continue to grow at a fast pace in coming years
too. But the ongoing global financial meltdown has posed a challenge before
the Egyptian economy, including its tourism industry, the biggest source of
foreign currency for the country.
The current financial crisis is taking the whole world in its grip,
including Europe, a major source of tourists for Egypt. Economic crisis has
constricted the disposable income of Europeans, and thus, they are staying
away from leisure activities like tourism. And Egypt is feeling the heat of
this crisis. It is expected that the country will see a decline of around 10
to 15% in reservations for this Christmas against last Christmas.
According to our new research report, "Egypt Tourism Sector Analysis",
tourist arrivals in Egypt are expected to grow at a CAGR of nearly 6% during
2008-2012, whereas between 2003 and 2007, tourist arrivals grew at a strong
CAGR of 16.63%.
Thus, coming years will prove quite intimidating for the Egyptian tourism
industry. However, the impact can be considerably cooled down by following
proper management approach.
According to a Senior Research Analyst at RNCOS, "Egyptians are not
considered on the higher end of valued commodities in terms of services and
goods. It means that the country should focus more on mid-level tourism and
eco-tourism against five-star quality services. And as recession is
deepening, tourists are searching for cheaper and affordable alternatives
for vacations, such as Basata - a cheap tourist place on Sinai Peninsula.
Egypt is among the lowest cost tourist destinations on the Mediterranean
coast. So currently, the country is at the lower end of mass tourism, and it
can take full advantage of this strength by giving increased stake to local
communities in the tourism sector and thereby generate more revenue from
it."
"Egypt Tourism Sector Analysis" contains in-depth information on the present
status and future outlook of the growing tourism industry of Egypt. It gives
detailed analysis along with statistical data on various parameters such as
inbound & outbound tourism, accommodation facilities, transportation
facilities, aviation industry and expenditure by outbound & inbound
tourists.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. We are a
team of industry experts who analyze data collected from credible sources.
We provide industry insights and analysis that helps corporations to take
timely and accurate business decision in today's globally competitive
environment.
We are running a special offer on select reports till Year end, where you
can avail our reports at discounted prices. Please click here to know more:
http://www.rncos.com/promotion.htm .
For more information visit: http://www.rncos.com/Report/IM538.htm
Current
Industry News: http://www.rncos.com/Blog/
Published at Investorideas.com Financial Article Feed : http://www.investorideas.com/RSS/feeds/II-Art.xml
About InvestorIdeas.com: One of the first online investor resources providing in-depth information on renewable energy, greentech and water sectors.
Become an Investorideas.com Member:Gain Exclusive Insight on Leading Sectors, Global Trends, and Insider Trading Ideas, News, Articles, renewable energy and water stocks directory.
Learn more: - click here
Disclaimer: The views and opinions expressed in the research published are those of the individual companies and writers and not necessarily those of Investorideas.comŽ, or any of the industry sector portals . At the time of publication, writers may hold positions in the stocks or companies mentioned.
Investorideas.comŽ or any of the industry sector portals cannot assure accuracy of the research presented. Investors are encouraged to research and verify facts and under no circumstances is Investorideas.comŽ endorsing the content as a recommendation to buy or sell stock.
Would you like to see your news and articles here? GO>>;;
|
