Egypt has begun offering financial incentives to help its tourism sector amid security concerns in the Sinai Peninsula, with Egypt’s tourism minister saying that less than 10% of bookings made in the country are currently affected by the war between Israel and Hamas. Reuters.

Tourism, which brings in scarce foreign currency to Egypt, will generate more than $13 billion for the North African country this year, according to estimates by Egyptian authorities.

Tourism Minister Ahmed Issa also said in an interview from London that a target of 15 million foreign visitors in 2023 would be met, even though some bookings were delayed until the end of the year because of the conflict on the country’s eastern border.

Ratings agency S&P Global warned on Monday that a drop in tourist numbers due to the war in Gaza could cause significant problems for the economies of Egypt, Jordan and Lebanon.

According to the same source, some cautious travelers have already postponed or even canceled planned vacations to the Middle East and North Africa.

“Right now it’s affecting customers who were buying regional tours because the tourism sector in Israel has effectively shut down, so we’re seeing the most significant impact,” Issa said on the sidelines of a tourism-related convention. in London.

“But in the general scheme of things, less than 10% of bookings made in Egypt were affected,” the minister added.

Issa also said Egypt is offering an extra $500 in incentives for flights landing in Sharm el-Sheikh because tourists arriving here ask “the most questions” about their safety.

Germans, and more recently the Chinese, are among the most numerous foreign tourists in Egypt

The minister also said the government is working closely with travel agencies, hotel owners and airlines to resolve any security and other issues that may arise due to the war in the area.

Sharm el-Sheikh is located approximately 360 kilometers south of the Mediterranean coast of the Sinai Peninsula, which directly borders the Gaza Strip.

Issa also said that a large number of tourists from Germany and China, which are not usually important markets for Egyptian hoteliers, helped to increase the total number of visitors by 7% this year compared to the first 10 months of 2022. About 10 months According to the minister, % of foreign tourists to Egypt come from Germany.

Last year, 62% of foreign tourists who arrived in Egypt were from Europe, while another 26% were from Arab countries.

The Egyptian government also hopes to finally open the Grand Egyptian Museum near the Pyramids of Giza next year. The opening of the museum was repeatedly postponed by the authorities due to delays in the large-scale project.

Issa now says the grand opening should take place sometime between February and May of next year.

“We are installing about 200 exhibits a day in the shop windows, we are putting the finishing touches on the audio guides,” the Egyptian minister also said.