Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Egypt- Restoring stability vital to remedy the economy - restauranteurs  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 05/01/2012

No. of Ratings : 0
Digg This Article: http%3a%2f%2fwww.menafn.com%2fmenafn%2fqn_news_story_s.aspx%3fstoryid%3d1093469943%26title%3dEgypt-Restoring-stability-vital-to-remedy-economy--restauranteurs Share This Article: http%3a%2f%2fwww.menafn.com%2fmenafn%2fqn_news_story_s.aspx%3fstoryid%3d1093469943%26title%3dEgypt-Restoring-stability-vital-to-remedy-economy--restauranteurs Add to Delicious Seed this article Buzz this article Add to Reddit Add to furl Add to stumbleupon Add to Mixx!


 


(MENAFN - Kuwait News Agency (KUNA)) Restoring stability across Egypt is vital for all businesses to flourish anew, and most specifically the tourism sector with sub-sectors such as restaurants and hotels, and the trickle of tourist at present is not sustaining business prosperity, said restauranteurs to KUNA, Thursday.

Business owners interviewed by KUNA agreed on the need to restore order and stability if the economy is to recover, and also appreciated efforts by the government of Prime Minister Kamal El-Ganzoury and by the Ministry of Interior and Minister of Tourism to assure tourists, both Arabs and foreigners, they can visit the country without great risk.

The restauranteurs meanwhile demanded Egyptian media, too, focuses on improving conditions to dispel fears of perspective tourists so that the sector may recover sooner than later.

General Manager of Dar Al-Qamar restaurants, owned by the Saleh and Yagoub Al-Humaizi Company, said "things are quiet now and there is no cause for fear.

" Jamal Shukr added the sector appreciates the efforts of the Supreme Council of the Armed Forces (SCAF) to drive this message home among perspective visitors of the country.

The businessman had sharp criticism of the local media. It gave too much attention and even exaggerated in reporting thefts, beatings, violence, and killings, "which happen anywhere in the world all the time." It is now time, he said, for "a new media strategy that does not impede the state's economic recovery by disadvantageous reporting." Shukr pointed out there was an expected drop in activity in restaurants overlooking the Nile in particular after the January 25 revolution, a natural result of the drop in number of Arab tourists to record lows. Restaurants are now working at 30 percent capacity only, a drop from a full 100 percent.

Some businesses had to resort to relieving some of their staff to make ends meet, but this particular company opted for keeping all staff and increasing their pay to help alleviate their economic woes in the current tough conditions.
Manager of the "Altissimo" restaurant in Cairo, Ahmad Sami, meanwhile stressed the only way to save the tourism sector, which is the main contributor to the state's economy, is to restore peace and stability.

Efforts by the Interior Ministry are greatly appreciated, and all also appreciate Minister Mohammad Ibrahim Yousef's going out to the streets in campaigns to ensure measures are in place to see improvement, accompanied by a host of security officials.

"The active and noticeable presence of security and police staff on the street resulted in the public feeling safer. This would bring back the tourists," he added.

The businesses were severely affected by the insecurity following the revolution, and most acutely restaurants overlooking the Nile. "The flow of tourist groups is now estimated at just five percent of the previous norm." This understandably takes a bite at this vital sector.

Executive Manager of Yasso restaurant Mohammad Reda for his part said security improvement as well as political stability are a must, if the tourists are to come back. He noted several positive steps had been taken by the Ganzoury government. Still, he said the restaurant is only working at 20 percent capacity at present.

The restauranteur particularly hailed a recent initiative aimed at improving and stimulating the Egyptian economy by Egyptian youth. He said the "Buy Egyptian" campaign to promote Egyptian products is a great way to help the economy.

This campaign could be seen as a sign of burgeoning tourism and economic awareness among the young, and this means they truly realize that a great portion of Egyptian families relies on tourism and its sub-sectors for its income and they need the solidarity.

 






  MENA News Headlines
May 26 2013Saudi- Six-day surge ends at Tadawul ,Arab News
(MENAFN - Arab News)  The Saudi stock market was in the red yesterday, reversing after a 6-day surge and dropping more than 29 points for the day. The Tadawul All-Share Index (TASI) dived in the ...

May 26 2013Saudi- IDB unit steps up insurance support ,Arab News
(MENAFN - Arab News) With the support of the Tajikistan president, the board of governors of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), member of Islamic ...

May 26 2013Swiss-China trade deal a symbol amid spats with EU ,AFP
(MENAFN - AFP) Applauded by Switzerland's business sector, the country's free-trade deal with China is heavy with symbolism, coming as Beijing locks horns with the European Union in a raft of ...

May 26 2013Security high for Paris protest against gay marriage ,AFP
(MENAFN - AFP) French police were on alert Sunday ahead of a mass protest in Paris against a new gay marriage law, with hardline activists expected to mingle among 200,000 demonstrators. Trouble ...

May 26 2013Saudi- Value of Kingdom's construction contracts exceeds SR 49 bn in Q1 ,Arab News
(MENAFN - Arab News) The magnitude of contracts within the construction sector continues to illustrate the Kingdom's appetite for heavy capital expenditures as about SR 49.1 billion worth of ...

May 25 2013Storm brews over control of US newspaper group ,AFP
(MENAFN - AFP) With a sale likely of a prominent group of US newspapers, the interest of a potential buyer tied to right-wing causes has galvanized opponents fearing the dailies could become ...

May 25 2013Chinese PM singles out Germany for EU visit ,AFP
(MENAFN - AFP) Chinese Premier Li Keqiang will meet German Chancellor Angela Merkel on Sunday as the two export powerhouses seek to further strengthen economic ties amid brewing trade spats between ...

May 25 2013Cannes film fest prizes up for grabs in tight race ,AFP
(MENAFN - AFP) An epic lesbian love story with graphic sex, a Coen brothers musical comedy and a blood-stained critique of Chinese society rocked the 66th Cannes Film Festival but critics said no ...

May 25 2013Fifty arrested ahead of Paris anti-gay marriage rally ,AFP
(MENAFN - AFP) Fifty opponents of gay marriage were arrested in central Paris late Saturday, police said, on the eve of a major protest against a new French law allowing homosexual couples to ...

May 25 2013Million doses of fake aspirin from China seized in France ,AFP
(MENAFN - AFP) French customs officers have seized 1.2 million doses of counterfeit aspirin from China, the biggest haul of fake medicines ever in France and the EU, the economy ministry announced ...

more...


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help