By Akram Medhat
Minister of Tourism Yehia Rashed held a meeting with Dr. Naglaa El-Nozahy, Deputy Governor of the Central Bank, in the presence of Dr. Adela Ragab, Deputy Minister of Tourism, in light of the Central Bank's announcement of rising tourism revenues, which was also confirmed by some international institutions such as Bloomberg.
During the meeting, the Minister of Tourism stressed the importance of conducting a flash survey to identify recent changes and the impact of the increase in tourist traffic and tourist nights and their redistribution across the various tourist destinations, to be carried out in September in order to track tourism revenues after the Eid and summer holidays.
The minister praised the role played by the Tourism Satellite Account unit in coordination with the Central Bank, stressing the need for a periodic review, on a quarterly basis, to identify any change in the pattern of tourist spending and monitor any increase in it, in light of the protocol concluded between the Central Bank and the Ministry of Tourism.
The meeting stressed the importance of calculating average tourist spending and periodically reviewing spending items in light of economic changes and government decisions, as well as changes in the profile of tourist segments coming to Egypt and the distribution of tourist traffic across destinations, while ensuring the accuracy of the data, the credibility of the figures and the accuracy of the selected sample of tourists.
It is worth noting that the meeting was attended by the working group and the group of experts of the Tourism Satellite Account unit at the Ministry of Tourism, the Ministry of Planning, the Central Agency for Public Mobilization and Statistics, and the Faculty of Economics and Political Science.
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