Tourists are slowly returning to Egypt and Turkey after shunning resorts in both countries following a spate of terror attacks.
The travel agent Thomas Cook reported a rise in bookings to both countries this year.
“After a slow start to the season and a tough year in 2016, we’re seeing early signs that customers are beginning to go back to Turkey and Egypt,” said Peter Fankhauser, the chief executive of Thomas Cook.
Russia’s flag carrier Aeroflot is expected to start flying to Cairo towards the end of this month, and is already active from Moscow to Cairo.
It is yet to resume flights to Sharm El Sheikh and Hurghada. Aeroflot added Tunisia to its summer flight schedule that runs through October.
Aeroflot had banned flights to Egypt in 2015 after a plane carrying Russian passengers crashed in the Sinai Peninsula. The airline did not return requests for comment.
In Egypt, hotel development in Cairo as well as the Red Sea resort areas is on a roll. The Cairo hotel market expects to add more rooms in the luxury segment this year with the opening of the 366-room St Regis Cairo in August.
Last year, the market added Steigenberger Hotel El Tahrir, Westin Cairo Golf Resort, Spa Katameya Dunes, and Nile Ritz-Carlton.
The average hotel occupancy in Cairo is expected to increase 7 per cent this year to touch 64 per cent, while the average daily room rate is expected to rise by 2 per cent to touch US$137, according to the consultancy Colliers International.
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Three trading apps to try
Sharad Nair recommends three investment apps for UAE residents:
- For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
- If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
- Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
Takreem Awards winners 2021
Corporate Leadership: Carl Bistany (Lebanon)
Cultural Excellence: Hoor Al Qasimi (UAE)
Environmental Development and Sustainability: Bkerzay (Lebanon)
Environmental Development and Sustainability: Raya Ani (Iraq)
Humanitarian and Civic Services: Women’s Programs Association (Lebanon)
Humanitarian and Civic Services: Osamah Al Thini (Libya)
Excellence in Education: World Innovation Summit for Education (WISE) (Qatar)
Outstanding Arab Woman: Balghis Badri (Sudan)
Scientific and Technological Achievement: Mohamed Slim Alouini (KSA)
Young Entrepreneur: Omar Itani (Lebanon)
Lifetime Achievement: Suad Al Amiry (Palestine)
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