TOURISM STAKEHOLDERS IN EGYPT CALL FOR 5-YEAR TAX AND CUSTOMS EXEMPTIONS FOR THE SECTOR
The Egyptian Businessmen Association's Tourism and Civil Aviation Committee recently convened to assess the state of the tourism sector. It developed strategies to enhance it amidst the current economic climate in Egypt and globally.
Dr. Farouk Nasser, Chairman of the Tourism Committee, pointed out that the committee is preparing a set of recommendations to the Minister of Tourism and Antiquities and all concerned authorities on the current challenges in the sector, foremost of which is finding an alternative to canceling low-interest financing initiatives by the Ministry of Finance and Egyptian banks.
The members reviewed several problems facing the tourism sector in both leisure and business tourism: the problem of visa and security approvals for sports tourism, calling on the Tourism Promotion Authority in partnership with sports federations to set an agenda for critical international matches.
The members called on the Tourism Promotion Authority to reactivate the green unit in the Ministry of Tourism and Antiquities to facilitate the issuance of licenses for ecotourism and to exempt tourism activity from customs and taxes for five years as an alternative to canceling the 8% financing initiative, in addition to encouraging the establishment of air exhibitions in Egypt, similar to the Dubai Airshow.
Nasser explained that canceling the 8% financing initiative represents a major obstacle for tourism companies to achieve the state's strategy by targeting the sector's revenue growth to $30 billion by attracting about 30 million tourists, which requires doubling the capacity of airports and hotels from 220,000 hotel rooms to 440,000 rooms. Tourism companies struggle to secure sufficient funding to expand room capacity.
The Chairman of the Committee presented a proposal to establish a company to manage tourist units and hotel apartments for those wishing to register their units for rent, especially in Sharm El Sheikh, Hurghada, and Marsa Alam, after studying and fulfilling all security controls and providing the level of services required and the requirements necessary to achieve the welfare of tourists.
Related articles tourism EGYPT PLANS TO INCREASE THE NUMBER OF TOURISTS IN 2028 BY 30M tourism EGYPT AUTHORIZES STREET PHOTOGRAPHY tourism EGYPTIAN TOURISM IS BACK ON THE RIGHT TRACK Comments Add Comment- {{message}}
- {{#errors}}
- {{error}} {{/errors}}
DON'T MISS destination CANADA'S TOURISM EXPECTS A SIGNIFICANT REBOUND THIS YEAR sustainable ITALIAN REGIONS ARE PREPARING FOR A TOURIST RUSH THIS SUMMER Marketing TOURISM PROFESSIONALS CAN BENEFIT FROM INSTAGRAM'S VISUAL CONTENT security HEALTH RESTRICTIONS: WHERE DO TRAVELERS STILL NEED A COVID-19 TEST? LATEST REVIEWS Tourism Review Online Magazine 1 / 2022 Tourism Review Online Magazine 1 / 2021 Tourism Review Online Magazine 1 / 2020
Introducing OurNextRide: Your Ultimate Vehicle Marketplace
Looking to buy, sell, or rent a vehicle? Look no further! Welcome to OurNextRide, the leading online platform designed to connect vehicle enthusiasts, sellers, and renters in one convenient and user-friendly marketplace. Whether you're a car aficionado, an individual looking to upgrade your ride, or a business seeking flexible transportation solutions, OurNextRide has got you covered.
Join the OurNextRide Community Today:
Whether you're in the market to buy, sell, or rent a vehicle, OurNextRide is your go-to destination. With our extensive selection, user-friendly interface, secure transactions, and exceptional customer support, we make the vehicle buying, selling, or renting process an enjoyable and efficient experience. Join our thriving community of vehicle enthusiasts and industry professionals and let OurNextRide revolutionize the way you connect with the automotive world. Visit our website to get started today!
Originally posted on: https://www.tourism-review.com/egypts-tourism-professionals-call-for-tax-exemptions-news13146