In a television interview on February 5, 2011,Farouk Okdah, Egypt’s Central Bank Governor, said Egypt’s tourism industry has lost $1.5 billion since the protests to oust Hosni Mubarak began on January 25. This was according to the state-run Middle East News Agency, which ran excerpts of his interview.
Having traveled to Egypt in 2009, I saw first hand how tremendously important the travel industry is to this country. It is, in fact, the number one money making career for many many of Egypt’s citizens. After you factor in the network of related tourist companies these current events reach, the loss is mind boggling.When the unrest began during the last week of January, I knew for certain tourism would take a huge hit, and hit hard it has.