Egypt has witnessed a surge in tourist arrivals so far this year despite geopolitical tensions impacting the region’s hospitality and tourism sector. During the first seven months of 2024, Egypt welcomed over eight million visitors, according to Amr El-Kady, CEO of the Egyptian Tourism Authority.
El-Kady expects the sector’s earnings to exceed $14 billion by the end of the year and the total number of tourists in 2024 to surpass 15 million, compared to the record-high 14.9 million in 2023.
Tourism revenues hit $6.6 billion in H1
During the first half of 2024, Egypt’s tourism revenues hit $6.6 billion, up from $6.3 billion during the same period last year. In a recent statement, Egypt’s Ministry of Tourism and Antiquities said the number of tourist arrivals during the first half of 2024 reached a record high of 7.069 million.
As part of its national strategy to bolster the tourism sector, Egypt is ramping up the availability of inbound airline seats and hotel rooms nationwide with the aim of welcoming 30 million tourists by 2028.
Egypt received a record number of 14.9 million tourists in 2023. The tourism sector is one of the main sources of foreign currency for Egypt, contributing about 12 percent to the GDP and providing jobs for around three million people.
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Key source markets
Notably, the German market remained the primary source of tourists to Egypt until mid-August, closely followed by the Russian market, which experienced a 10 percent growth, added El-Kady.
In 2023, the German market contributed around 1.6 million tourists to Egypt. This year, El-Kady expects the number to continue growing.
El-Kady also highlighted the significant growth in the Chinese market, which saw a 60 percent expansion. This growth is mainly due to the growing airline traffic from China to Egypt which has recently tripled to 28 weekly flights. Moreover, the Japanese market saw a notable 70 percent growth compared to the same period in 2023.
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