The Ministry of Tourism’s dues for lands allocated to hotel and resort projects amounted to $180m until the end of last year.
A senior government official told Daily News Egypt that 600 investors have obtained land plots from the Ministry of Tourism over the past years and failed to pay the lands’ instalments due to low tourist arrivals in Egypt during the period 2011-2018.
According to the official, this year will see the settlement of these dues as the indicators of tourism improve, both in tourist arrivals and revenues.
Daily News Egypt was informed that the revenues of the tourism sector grew to …read more
Source: Daily News Egypt