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Egypt welcomed seven million tourists in the first half of this year. It is on track with its projected 15 million visitors in 2023, according to its tourism ministry officials. Back in 2019, the Northern African country attracted a record 13 million tourists bringing home US$ 13 billion
Egypt welcomed seven million tourists in the first half of this year. It is on track with its projected 15 million visitors in 2023, according to its tourism ministry officials. Back in 2019, the Northern African country attracted a record 13 million tourists to bring home US$ 13 billion. However, the tourism industry was hit hard by the COVID-19 pandemic later.
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The Central Agency for Public Mobilization and Statistics, the agency which maintains statistical data for the country released figures from the 2021-2022 fiscal year. It showed an impressive year-on-year growth. Egypt received 11.7 million tourists, up from eight million in the 2020-21 fiscal year, an increase of 46%, jacking up the revenue by 121%. In absolute numbers, it worked out to US$ 10.7 billion. The sharp drop in the Egyptian pound exchange rates to foreign currencies has helped to give tourism that critical push.
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Europeans made up more than 62%of Egypt’s tourist arrivals. Arabs came second at 26%. An additional 35% increase in the number of visitors was recorded taking the total number of tourists to seven million in the first half of 2023. This according to analysts is indicative of a tourist boom in the country.
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The national tourism target is set to reach 15 million this year, which can increase to 18 million tourists next year (2024). The focus is on increasing the number of flights that come to Egypt, to enhance the touristic experience for visitors and increase the number of hotel rooms.
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Tourism accounts for 12% of the nation’s GDP and is among the top sources of foreign currency for the Arab world’s most populous nation. The country is looking at attracting 30 million tourists by 2028. This calls for investing US$ 20 billion to increase the hotel capacity in the country from the current 215,000 rooms to 500,000.
