Egypt tourism sector will not see a recovery in 2021: Fitch Solutions

Egypt is among five emerging markets that are expected not to see recovery in their tourism sector in 2021 amid COVID-19 repercussions, according to Fitch Solutions.

This came within Fitch Solutions' global macroeconomic update report that was announced in a virtual event held on Thursday.

These struggling markets include Egypt, Turkey, Thailand, South Africa and Vietnam.

The report also excluded Egypt from the markets that are expected to see positive indices in 2021 regarding inflation, commodity prices, reforms and the vaccines' roll out.

Fitch Solutions expects the global economy to grow by up to 5.6 percent in 2021.

On the other hand, the report shows that during 2021 emerging market economies will strengthen after a painful 2020