Egypt's crucial tourism industry draws 14.7 million visitors a year, accounts for one out of every eight jobs and represents 11% of the nation's economic output. But it has collapsed in the wake of pro-democracy demonstrations.
Egyptian vice president Omar Suleiman estimated tourism-related losses at $1 billion during the first nine days of protests, which have coincided with the country's peak winter season. And ElSayed Khalifa, director of the Egyptian Tourism Authority in New York, said Monday that the economic impact from canceled U.S. trips could top $50 million by the end of April. A record 361,000 Americans visited last year, a 12.5% boost from 2009 and the sixth year-over-year increase.
We have a tour planned in October to Egypt. Come join us and support the people of Egypt. http://www.spirit-tour.com/egypt.html
Jim Cramer
7075668078www.BaliAdvisor.com
www.Spirit-Tour.com
Over the table, on which an unpacked line of fabric samples was all spread out -- Samsa was a traveling salesman -- hung the picture which he had recently cut out of a glossy magazine and lodged in a pretty gilt frame. It showed a lady done up in a fur hat and a fur boa, sitting upright and raising up against the viewer a heavy fur muff in which her whole forearm had disappeared.
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