South Sinai Governor Khaled Fouda said on Thursday tourism loses in Sharm el Sheikh and Hurghada cities reached 6 billion pounds over the last three months.

In statements on the sidelines of the conference of the Union of Arab Banks (UAB) currently held in Sharm el Sheikh, he added that the two coastal cities are losing 2 billion pounds monthly.

Fouda asserted that this crisis is fabricated, adding that Sharm el Sheikh has never witnessed such crisis before.

The governor also hailed the banks' initiative to support tourism.

In statements to MENA, Fouda said that domestic tourism promoted tourism in Sharm el Sheikh but it was not enough to compensate the losses.

He pointed out that 10,000 Egyptian and Arab tourists are visiting Sharm el Sheikh daily.