Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.
Hard currency-carrying tourists continued to flood into Egypt in the spring, funding a 44 per cent year-on-year increase in tourism receipts to $5,475 million for the 12 months ending 30 June. Wedded to the steady recovery of Cairo’s service industries and a marked improvement in Suez Canal revenues, the tourism revival helped to push the current account balance up to $3,729 million for the 2003/04 financial year. The current account surplus is the most positive signal of economic recovery there has been in at least five years.