Egypt’S Tourism Industry Growing?

Egypt’s tourism industry has experienced a significant growth over the past three years, with visitor numbers increasing from 4.9 million two years ago to a projected 15 million in 2023. The sector contributed a record $19.8 billion to the country’s GDP during 2023, indicating a full recovery. Incoming tourism reached a record-breaking 14.9 million tourists in 2023, including 3.6 million visitors visiting the country in the fourth quarter of 2023. Egypt is aiming to reach 30 million visitors by 2028 as its once-thriving tourism sector recovers from the fallout of the coronavirus pandemic and the grinding grind.

Egypt’s tourism sector raked in $6.6 billion in revenues during the first half of 2024, marking a 5% increase from the $6.3 billion generated in the previous year. The market is expected to experience significant growth in the coming years, with revenue projected to reach $5,172.00m by 2024 and an annual growth rate of 7.23, resulting in a projected market volume of $7,333.00m by 2029.

Tourism is one of the leading sources of income and crucial to Egypt’s economy. At its peak in 2010, the sector employed about 12 of Egypt’s workforce. Egypt welcomed seven million tourists in the first half of 2024, putting the country on track for its projected 15 million visitors in 2023. Domestic visitor spending saw a 9 percent year-on-year increase, surpassing LE 328.5 billion, while spending by international visitors surged by 38.5 billion.

Inbound Egyptian tourism could pick up in 2024, despite Egypt Tourism recording a 27-year-on-year growth in visitors in 2023. In the first half of 2024, Egypt’s tourism sector revenues grew by 5 to $6.6 billion, compared to $6.3 billion in the same period of 2023.

Is Egypt known for tourism?

Egypt, known as “Um Al-Dunya” or “Mother of the World”, is renowned for its cultural heritage, which attracts visitors from around the world. The country’s ancient sites and Red Sea coast are a significant source of tourism, accounting for 10-15% of the Egyptian economy and creating millions of jobs. The U. S. Government has invested over $100 million in Egypt’s cultural heritage over the years, partnering with the Egyptian government on large-scale engineering projects to protect iconic archaeological sites from rising groundwater and flooding. USAID has also supported conservation efforts at other sites, such as the Red Monastery, Medinet Habu, and Theban Tombs of the Nobles.

In 2022, USAID launched the Red Sea Initiative, an ambitious climate action aimed at conserving the Red Sea’s coastal ecosystem and promoting ecotourism. The initiative aims to protect the Red Sea’s coral reef and coastal ecosystem from climate change impacts, empower local communities to lead climate action, establish a blended finance mechanism to support businesses in building resilience, reducing emissions, and creating jobs, and partner with private businesses and other donors to leverage up to $50 million in total funding.

Is Egypt safe for tourists now?

The Middle East may experience increased tensions, leading to airspace closures, flight cancellations, and travel disruptions. It is advised to avoid demonstrations and protests and exercise caution in Egypt due to terrorism threats. Landmines are present in certain areas, including the desert around El Alamein, Marsa Matruh coastline, the western shore of the Gulf of Suez, and the Sinai Peninsula.

What are the problems of tourism in Egypt?

Egypt, a country rich in history, culture, and iconic landmarks, attracts millions of tourists annually. However, it also presents challenges such as navigating crowded urban areas, dealing with intense heat, understanding local customs and traditions, language barriers, and ensuring personal safety. While security has improved in recent years, it is crucial for tourists to stay informed about the current situation, follow travel advisories, and take necessary precautions to ensure their safety. It is advisable to avoid areas with known security risks and use reputable tour operators and transportation services.

Language barriers are another issue in Egypt, with the official language being Arabic. While English is spoken in major tourist areas and by some locals, there may still be language barriers in remote or non-touristy regions. Basic knowledge of Arabic phrases or carrying a translation app can be helpful in communication.

What is Egypt ranked in tourism?

Egypt ranks 9th in the “Travel Awaits” website’s list of over 17 tourist destinations for 2023, based on travel reservations with international tour operators, a specialized website for travel and tourism affairs.

Are tourist numbers down in Egypt?

Egypt’s tourism sector, which contributes to 12 percent of the country’s GDP, has been hit hard by Covid-19 and the Russia-Ukraine conflict, resulting in a decline in tourist numbers. The country plans to double foreign visitor numbers to 30 million by 2028, promoting private investment in tourism.

What is the fastest growing industry in Egypt?

Egypt’s ICT sector is the fastest-growing in the region, with the Ministry of Planning and Economic Development reporting it as the leading country in terms of acquisition and merger deals in the Middle East in H1 2022. Egypt is also one of the top three active MENA countries for mergers and acquisitions. The country is home to high-growth companies like Amazon, Microsoft, IBM, and Uber, as well as tech-powered startups like Instabug, Vezeeta, and Swvl.

Egypt has established 150+ export delivery centers, serving over 100+ countries across North America, Europe, the Middle East, Africa, and Asia, catering to IT solutions, business professional services, and engineering research and development (ER and D) global demand.

Is Egypt rapidly growing?

Egypt, a rapidly growing emerging economy, faces increasing pressure from population growth, land-use change, pollution, and climate change on its natural environment, including its rich biodiversity. Despite decoupling greenhouse gas emissions from economic growth, Egypt needs to mainstream climate action across sectors and raise ambition. As one of the world’s most water-stressed countries, greater use of economic instruments could help address scarcity and improve water quality.

Egypt’s Vision 2030 focuses on turning environmental challenges into opportunities, such as sustainable waste management and air pollution. The country has significant potential to accelerate its clean energy transition. The first Green Growth Policy Review of Egypt examines progress towards sustainable development and green growth over the past decade, with 40 recommendations aimed at improving Egypt’s environmental performance, particularly in building climate-smart, resilient, and inclusive cities.

Is Egypt still a popular tourist destination?

The implementation of a strategy and policies has led to a record-breaking 14. 9 million inbound tourists in Egypt in 2023, with 3. 6 million visiting the country in the fourth quarter. Significant investments have been made in popular Egyptian tourist spots, including restoring archaeological sites and opening new museums. Highlights include the Graeco-Roman Museum reopening in Alexandria, the restoration of the Great Hypostyle Hall in Karnak Temple and Valley of the Kings, and the opening of the Grand Egyptian Museum near Cairo.

How big is the tourism industry in Egypt?

Egypt’s tourism revenue reached 13. 60 USD Billion in 2023, up from 10. 70 USD Billion in 2022. The average was 8. 60 USD Billion from 2010 to 2023, reaching an all-time high of 13. 60 USD Billion in 2023 and a record low of 3. 80 USD Billion in 2016. The revenue is expected to reach 20. 00 USD Billion by the end of 2024, with a long-term trend of around 25. 00 USD Billion in 2025. Tourism is a significant source of income for Egypt, accounting for around 12 of its GDP.

Which country is number 1 in tourism?

France leads the list of the most visited cities in Europe with 89. 4 million arrivals in 2019, thanks to its diverse regional cultures, historical sites, museums, gastronomy, and romantic charm. The country’s beautiful countryside, including villages, mountains, vineyards, and castles, attracts tourists. Spain follows with 83. 7 million arrivals, thanks to its historical richness, sunny coasts, architectural beauty, flamenco music, and bull running experiences.

Is tourism in Egypt increasing?

Egypt’s tourism sector revenues increased by 5 to $6. 6 billion in the first half of 2024, compared to $6. 3 billion in 2023. The Ministry of Tourism and Antiquities reported a slight increase in tourists from January to June 2024, reaching 7. 069 million, a slight increase from 2023. Tourism revenues in Egypt have increased by 18 since 2010, reaching $5. 6 billion during the peak year. The increase in tourist arrivals also led to a rise in the number of nights tourists spent in Egypt, reaching 70. 2 million in the first half of 2024.