(MENAFN) Egypt is set to lose about USD1.5 billion in tourism-related incomes as a result of the downing of a Russian passenger jet last October.
The Russian crash is nothing but an unfortunate continuation to a five-year crisis in the sector that began with the 25 January Revolution in 2011.
Halting UK's flights to Sharm El-Sheikh and the clearing of the British from resorts in the city spread a very negative picture of the Egyptian tourism segment.
The big blow comes due to the fact that Russian tourism represents 35 percent of the incoming flow to Egypt, and the British account for nearly 11 percent.
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