Egypt expects Suez Canal tourism revenues to spike by end of fiscal year | Travel - Hindustan Times
close_game
close_game

Egypt expects Suez Canal tourism revenues to spike by end of fiscal year

Reuters | | Posted by Zarafshan Shiraz, Cairo
May 21, 2022 08:11 PM IST

Egypt expects Suez Canal tourism revenues to reach between $10 billion and $12 billion by fiscal year end, despite the Ukrainian crisis. Egypt's fiscal year runs from July 1 to June 30.

Egypt expects the Suez Canal's revenues to reach about $7 billion by the end of the current fiscal year, finance minister Mohamed Maait said on Saturday.

A shipping container of the China Ocean Shipping Company (COSCO) moves through the Suez Canal in Suez, Egypt (REUTERS/Mohamed Abd El Ghany/File Photo)
A shipping container of the China Ocean Shipping Company (COSCO) moves through the Suez Canal in Suez, Egypt (REUTERS/Mohamed Abd El Ghany/File Photo)

Tourism revenues are expected to reach between $10 billion and $12 billion by then, despite the Ukrainian crisis, he added. Egypt's fiscal year runs from July 1 to June 30.

Hindustan Times - your fastest source for breaking news! Read now.

The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government's main sources of foreign currency. 

Oscars 2024: From Nominees to Red Carpet Glam! Get Exclusive Coverage on HT. Click Here

Catch your daily dose of Fashion, Health, Festivals, Travel, Relationship, Recipe and all the other Latest Lifestyle News on Hindustan Times Website and APPs
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On