Egypt — Ekhbary News Agency
Sherif Fathy, Egypt's Minister of Tourism and Antiquities, has cautioned that expanding the issuance of licenses for new tourism companies at this time could be detrimental to existing firms. The minister highlighted that the current conditions within the sector do not provide sufficient opportunities for new entities to grow, citing challenges that have impacted tourism flows.
Impact of Current Sector Challenges
During a meeting of the Tourism and Civil Aviation Committee in the House of Representatives, chaired by MP Sahar, Fathy elaborated on his concerns. He emphasized that the prevailing circumstances, marked by various challenges, have significantly affected the influx of tourists, thereby creating an unfavorable environment for the establishment and prosperity of new businesses in the tourism industry.
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Linking License Expansion to Sector Improvement
The minister underscored that any decision to broaden the scope of new tourism licenses should be directly linked to a substantial improvement in the sector's performance and a recovery of tourism levels. This approach aims to safeguard current investments and ensure market stability, rather than introducing further competition under already strained conditions.
