The Egyptian economy is losing an estimated 31 million Egyptian pounds ($2 million) a day as a result of its inclusion on the UK travel red list, the World Travel and Tourism Council (WTTC) has reported.
According to the WTTC, this could lead to losses of more than one billion Egyptian pounds ($0.06 billion) a month.
"Egypt's status as a UK 'red list' country will pose a significant threat to the nation's struggling travel and tourism sector and overall economy," the WTTC warned.
It added: "The WTTC research shows the dramatic impact Covid-19 has had on the Egyptian travel and tourism sector, with its contribution to the national GDP falling from EGP505 billion (8.8%) in 2019, to just EGP227.5 billion (3.8%) in 2020."
It stated that the pandemic had led to the loss of 844,000 travel and tourism jobs across the north African state.
Tourists have been discouraged from travelling to Egypt as a result of the need to pay for hotel quarantine upon their return to the UK at a cost of £1,750 ($2,408) for 11 nights, a price that has now risen to £2,285 ($3,144). This is in addition to the cost of covid tests upon their return to the UK. Egypt is deemed a 'high risk' country for coronavirus variants.
Virginia Messina, Senior Vice President and Acting CEO of the WTTC, said: "Every day Egypt stays on the UK's 'red list', the country's economy faces losing millions just from the lack of UK visitors alone. This policy is incredibly restrictive and damaging as travelers from Egypt also face mandatory hotel quarantine at a huge cost."