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Egypt Losses Multiply
People, Travel

Egypt Losses Multiply

An Egyptian government official says Egypt has lost hundreds of millions of dollars since last year’s suspected bombing of a Russian plane, which crippled the country’s vital tourism industry. South Sinai Governor Khaled Fouda was quoted by the state-run Al-Ahram daily as saying that hotel occupancy in the resort cities of Sharm el-Sheikh and Hurghada stands at less than 20% and that the cities lose nearly 2 billion Egyptian pounds (more than $250 million) each month, AP reported. The Islamic State group claims that it planted a bomb onboard and Moscow has concluded the plane was downed by an explosive. Egypt says it is still investigating the cause.

 

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