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Egyptian tour operators demanded the speedy adoption of the ruble and the introduction of the Mir system

Egyptian tour operators demanded the speedy adoption of the ruble and the introduction of the Mir system
Sunday, 09 October, 2022, 19:30

In anticipation of the winter influx of Russian tourists, Egyptian tour operators, owners of tourism infrastructure and investors in this area have asked the Central Bank of Egypt to take the necessary executive measures as soon as possible so that the ruble can be traded against the Egyptian pound.

Egyptian tour operators demanded the speedy adoption of the ruble and the introduction of the Mir system
Al-Shorouk newspaper sources reportthat among the requirements was also the introduction of the Mir payment system in the country.

It is reported that the Central Bank, together with the Ministry of Finance, are inclined to accept the proposal of market representatives. They plan to include the Russian ruble in the list of currencies traded by banks and intend to allow banks access to the Russian Mir payment card system.

Sources of the newspaper, citing the financial authorities of the country, assure that the measures will come into force in the coming days.

After the introduction of anti-Russian sanctions by the United States, affecting everyone who deals with the Russian Mir system and the ruble instead of the dollar, there were reports that banks in a number of countries refused to use the Mir system.

At the same time, Sri Lanka announced yesterday that it is discussing the issue of introducing Mir cards in the country.

Egyptian investors and tourism experts are expecting the launch of new facilities in the coming months, and it would be beneficial for them to have Russian tourists visit them and be able to pay for hotel services in Russian rubles.

Tour operators and developers stressed that this measure will double the inbound tourist flow from the Russian market. Therefore, the decision will benefit the tourism sector, on the one hand, and significantly boost the country’s economy, on the other hand.

Investors noted that this decision comes at the same time as an increase in the number of tourism contracts between hotels and Egyptian travel companies with their Russian counterparts and foreign tour operators, which will expand the opportunities for the revival of Russian tourism in Egypt.

Rami Fayez, a member of the Tourism Investors Association in Marsa Alam, explained that many Russian travel companies have announced an increase in the number of their flights to Sharm el-Sheikh and Hurghada from next month. Therefore, the decision must be made as quickly as possible.

Fayez also noted that tourism investors in Marsa Alam have prepared a marketing plan to promote the “long stay” program for guests during the winter.

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