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12.05.2008
UAE pumps US 4 billion into Egypt tourism sector
The UAE has pumped US$4 billion into the vibrant Egyptian tourism sector, accounting for 30% of total Arab tourism investment in Egypt, a senior Egyptian official has disclosed. Quoting figures by Egyptian Tourism Development Authority, First Assistant of Egyptian Tourism Minister Hisham Zazo told reporters on Wednesday at the sideline of the ongoing Arab Travel Market in Dubai that the tourism sector contributes 11.3% to Egypt's gross domestic product and 19.3% to the total foreign currency income. ''Egypt plan s to attract 14 million holidaymakers and boost hotel capacity to 240,000 rooms by 2011,'' he added. He added that Arab tourists visiting Egypt rose to 1.9 million last year from 1.3 million in 2003 and revenues from them jumped to US$ 2.2 billion from US$ 2.2 billion for the same period. ''The number of UAE tourists visiting Egypt surged to 52,400 in 2007 from 32,000 in 2003,'' he indicated. www.eturbonews.com www.bi-me.com