Arab Finance: S&P Global Ratings expects tourism sector in Egypt, Lebanon, and Jordan to lose $16.1 billion collectively amid the current Hamas-Israel war, Asharq Business reported, citing a report by the agency.
This loss represents 10% to 70% of total tourism revenues recorded last year, the report stated.
Several tourism agencies in Egypt reported facing cancellations of around 50% of reservations for November and December, particularly by European travelers, since the onset of the war conflict.