By Micah Halpern I've Been Thinking:
$310,000,000.
The unrest in Egypt is costing $310 million per day in revenue. That does not take into account the cost of destruction or the cost of the police or the military.
$3.1 billion of revenue has been lost since the rioting began.
A conservative estimate puts that $3.1 billion at 5% of Egypt's GDP. The number will no doubt increase - it could easily hit 20%.
The industry most horribly hit is tourism and tourism is one of Egypt's biggest industries. Not only have tourists fled the country during the events of the past 10 days, but future trips have been cancelled. It will take months and years to rebuild the tourism industry.
No matter who ultimately holds the reins of power, it will be very difficult convincing foreigners that Egypt is a safe place to visit and vacation.
No matter who holds the reins of power, rebuilding Egypt will be a long and arduous task.
Micah@MicahHalpern.com
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