Egypt lost almost half of its travel during the first quarter of this year, with the political disruptions against then President Hosni Mubarak forcing travellers to cancel trips into the region.

According to figures released by the government, the country saw a 46 percent drop in arrivals over the first quarter, compared to the same period last year, Reuters Africa reported.

Foreign reserves also feel by up to $28 billion for the month of April, which is the lowest the country has seen over the past four years.

"The tourism industry is still affected by the recent events in Egypt causing a great decline in the number of tourists ... which reached 1.9 million tourists," the Central Agency for Public Mobilization and Statistics (CAPMAS) said in a statement to media.