Egypt puts off collection of hotels’ debts to boost tourism
To salvage its ailing tourism sector, the Egyptian government has extended the grace period for the country’s hotels to pay all financial dues and debts.
The Egyptian government has put off the collection of all deferred official fees and debts that are owed by the country’s hotels, including utility bills and taxes, until January 2018 in an attempt to boost the conditions of those hotels and reinvigorate the struggling tourism industry.
In a news conference held in Cairo late last month, Minister of Tourism Yehiya Rashed said that the Cabinet has approved extending the grace period given to the country’s hotels to pay all their financial dues and debts to the government until January 2018 in order to encourage their sustainability. The minister added that such dues include electricity, gas and water bills, as well as real estate taxes. The decision, the minister said, would help investors recover the business of their wobbling tourism establishments.
The move comes as part of a series of recent steps taken by the Egyptian government to salvage its ailing tourism sector hardest hit since the January 25 Revolution, which ousted President Hosni Mubarak in 2011.
Tourism experts believe the new decision will have a positive effect on the country’s tourism industry and would encourage many hotels and tourism establishments to continue operating amid hard tourism times.
