Egyptian Tourism Development eyes $83mn revenues in FY2016-17

Egyptian Tourism Development Authority (TDA) plans attaining revenues estimated at 740 million Egyptian pounds (US$83 million) during fiscal year 2016-17, CEO Serag el deen Saad stated Saturday.

The official told Amwal Al Ghad that TDA also eyes achieving surplus of 460 million pounds (US$51.8 million) during the same period.

Tourism Development Authority had not reached its targeted revenues during the first ten months of current financial year due to the delay in pricing land plots, Saad clarified, adding that TDA achieved 66 percent of the targeted revenues, i.e. 580 million pounds.

CEO Saad noted that authority’s financial surplus comes as pursuant to its formulated plans.