As weeks of anxiety now turn to an open war between Russia and Ukraine, the effects on world trade, financial markets, and country-wide economies, including Egypt's economy, are becoming clear. Many of the furnish chain issues that are nevertheless with us from the pandemic are going to be aggravated by this. That skill world strength expenses will rise, and so will meal costs. Both Russia and Ukraine are among the world's largest grain exporters, which capacity that there will be fundamental disruptions in the world's meals supply. There is nonetheless a lot that is no longer known about the geopolitical challenges that lie ahead. But for Egypt, how will it be affected? In this essay, I want to discuss one of the principal pillars - tourism - that replicates the bad results as well as the opportunities that fighting should deliver.
The Egyptian tourism area has been trying to recover from a sequence of setbacks in the past few years, from the Russian plane crash to COVID-19. The tourism area started bouncing back in 2021, with revenues accomplishing 13$ billion from 4$ billion in 2020. Yet, it seems that the enterprise once more foresees challenging times, and the trouble is that the Egyptian tourism zone was once simply trying to compensate for some of the losses it sustained over the previous years. Egypt has been closely established on tourism from Russia and Ukraine, with almost a third of the country's travelers coming from either of them. If we look at the quantity of Russian and Ukrainian tourists, we can at once see how this combat will affect Egypt's tourism sector. Between 300,000 and 500,000 Russian travelers are believed to have visited Egypt every month as of July 2021, with 125,000 Russian tourists visiting in the first two weeks of 2022. Meanwhile, Ukraine is a major exporter of vacationers to Egypt with 1.6 million Ukrainian tourists visiting Egypt in 2019, making Egypt its second most popular tourist vacation spot after Turkey. Effects from the hostilities have already started appearing, as there has been a suggested 25-30 % minimization in tourism bookings from Russians and Ukrainians so some distance in February. The war will have devastating effects on the sector, and the government wants to focus on alternative markets, including in European states that are positioned some distance away from Russia and Ukraine. It was once said that Egyptian tourism organizations are counting on Germany to make up the shortfall.
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Thus, it is an obvious fact that the war between Russia and Ukraine has a negative effect on Egypt's economy, especially in the field of tourism.
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Tourism in Egypt Affected by the Russian-Ukrainian War: Essay.
(2023, December 08). Edubirdie. Retrieved December 23, 2024, from https://edubirdie.com/examples/tourism-in-egypt-affected-by-the-russian-ukrainian-war-essay/
“Tourism in Egypt Affected by the Russian-Ukrainian War: Essay.” Edubirdie, 08 Dec. 2023, edubirdie.com/examples/tourism-in-egypt-affected-by-the-russian-ukrainian-war-essay/
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Tourism in Egypt Affected by the Russian-Ukrainian War: Essay [Internet]. Edubirdie.
2023 Dec 08 [cited 2024 Dec 23].
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