The protest that is seen in Egypt is a rise of democratic
issues of the last election in Egypt. This mass protest led to hundreds of
thousands of egytians on the street demanding the step down of President
Mohammed Morsi. The protest went ahead and storm muslim brotherhood from which
its believed that the president Morsi hails hence leading to the country border
crossing to gaza strip the north mount Sinai closed indefinitely. The political
crisis in Egypt has prompted an upsurge of violence in the Sinai Peninsula,
with various jihadist militias - made up, experts believe, of local Bedouin
with a sprinkling of foreign fighters -attacking Egyptian army road-blocks and
other government positions.
The political crises being experienced has led to
economic crises in Egypt. Tourism sector is one of the major economic boster in
Egypt and based on the ongoing protest it has lead to resignation of tourist
minister Hisham Zazou and some reshuffle by the military commander Hazem
El-Beblawi, a liberal economist who was finance minister and deputy prime
minister, will serve as the interim prime minister; Mohamed ElBaradei, the
Nobel Peace Prize-winning diplomat, will serve as interim vice president, it
said.
The biggest problem is that we take forever to
develop democratic recipe which can stand the test of time. This has made the Egyptians
to think that a coup is the only way to achieve democracy. Political scientist
thin that whats going on in Egypt is a revolution. Arguing that when tyrant falls,
anarchy rules just the same way it happen to French revolution. And the revolution
always eats its own children. While protests remain at the center of attention,
as jets fly over Liberation Square and escaped prisoners instill fear in the
public, the political crisis could turn into a humanitarian one if the current
economic paralysis continues
Economic downturn and recession, fluctuating exchange rates, loss of market
confidence and withdrawal of investment funds can all create a tourism crisis.
Crises generated within the industry can also be analyzed under the headings of
economic, sociocultural and environmental when tourism has negative impacts in
these fields (Henderson, 2006).The external and internal threats of the
economic crisis to the tourism industry are;
1.
further External threats: recession; currency fluctuations; and
taxation.
2.
Internal threats: rising costs;
falling revenues; unprofitability (Sian et al., 2009).Crises occur at all
levels of tourism operations with varying degrees of severity, from much publicized
environmental, economic and political disaster
Khaled M. Hanafy, an economic adviser to the
Federation of Chambers of Commerce in Egypt, the umbrella group representing
all the chambers in the country (or some four million businesses), said that
while they had no figure for the economy’s losses, the cost of the disruptions
had reached the billions of dollars.
Ms.
Youssef said the flights taking tourists out of the country were carrying off
badly needed tourist money with them as well. “Egypt is highly dependent on
tourism,” she said. Foreign direct investment would probably decline too, she
said, as Egypt’s reputation for stability degenerated .
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