Tourexpi
Travel and Tourism in Egypt injected a record E£953BN in the national economy last year
The data also shows that across sector jobs,
international and domestic visitor spending, the sector fully recovered last
year to reach record-breaking levels.
Domestic visitor spending grew almost 9%
year-on-year to reach more than E£328.5BN, while spending by international
visitors saw a strong 38.5% year-on-year growth last year, to reach E£470.4BN.
Jobs supported by the sector grew almost 10% to
reach more than 2.5MN, representing one in 12 jobs across Egypt.
Although this is strong recovery, it continues to
lag previous record job numbers for the sector, set 15 years ago in 2008, when
job numbers reached 3.7MN.
Julia Simpson, WTTC President & CEO, said;
"Egypt’s Travel & Tourism sector has made an extraordinary recovery,
surging past previous records, highlighting the sector's resilience and its
vital role in Egypt’s economy.
“The Egyptian Government recognises the value of
Travel & Tourism to the Egyptian economy and jobs, placing it at the
forefront of the agenda, with a real focus on investment.”
What Does This Year Look Like?
This year, the sector’s GDP contribution is
forecast to reach almost E£988BN, accounting for 8.1% of Egypt’s economy.
International visitor spending is anticipated to
grow 6.2% to reach just under E£500BN this year, with domestic visitor spending
expected to reach over E£340BN.
Sector jobs are projected to grow 5.7% to reach
2.67MN, to account for almost one in 11 jobs in Egypt, although still below the
previous peak.
What Does the Next Decade Look Like?
With the right government support, WTTC is
forecasting that the sector could grow its annual GDP contribution to E£1.57TN
by 2034, representing 9.6% of Egypt’s economy, and could potentially employ
almost 4MN people across the country.
What Does the Region Look Like?
Across North Africa, the Travel & Tourism
sector is forecast to contribute E£2.2TN to the regional economy this year,
accounting for 8.5% of the total.
Sector-supported jobs are expected to rise to
5.3MN, representing one in 11 jobs across the region.
Domestic visitor spending is projected to reach
E£960BN, whilst international visitor spending is anticipated to reach E£1TN
this year.
See all the data in our Egypt Travel
& Tourism Economic Impact Report on the WTTC Research Hub.
For more information, please visit wttc.org.
Image
Credit: © AA
The most interesting news
Emirates reveals its ‘Exclusive Eight’ - the most valuable airline offering of Champagne
Emirates customers will now have the privilege of tasting even more of the worlds’ most outstanding champagne onboard and in lounges, as Emirates renews its global airline exclusivity agreements for another 4 years – serving the most impressive e
The Ritz-Carlton Yacht Collection Announces First Asia-Pacific Season Aboard Luminara
Underscoring its commitment to culturally immersive and extraordinary journeys while setting a new standard in ultra-luxury cruising, The Ritz-Carlton Yacht Collection expands its curated offerings across the globe, delivering unforgettable experienc
New Culinary Adventures Await Onboard the Disney Treasure
Disney Cruise Line reveals first-ever "The Aristocats"-themed venue, new "Guardians of the Galaxy" dinner offering and "Coco"-inspired menu items coming to the Disney Treasure.
Istanbul Airport last week ranked among Europe's busiest air hubs
Türkiye's gateway to the world boasted 1,520 daily flights, up 21% from pre-pandemic level in same period.
South Korea’s Travel and Tourism Sector Set to Reach New Heights in 2024
The World Travel & Tourism Council (WTTC) 2024 Economic Impact Research (EIR) predicts a remarkable year for Travel & Tourism in South Korea, with significant growth in its economic contribution, employment, and visitor spending.
How Alibaba Aims to Revolutionize Chinese Tourism with Fliggy
An Exciting Travel Market in Transition.
Oceania Cruises Floats Out New Ship Allura at Fincantieri Shipyard In Genoa, Italy
Oceania Cruises, the world's leading culinary- and destination-focused cruise line, has marked an important milestone in the construction of its new 1,200-guest ship, Allura, at the Fincantieri shipyard in Sestri Ponente, Italy, bordering the famed s
Sheraton Celebrates the Opening of its 100th Hotel in Greater China
The Sheraton Lanzhou Anning made its debut in the city of the Yellow River with refreshing design, embodying the brand spirit of "The World’s Gathering Place" with vibrant energy.
Istanbul Airport breaks daily passenger receiving record
Istanbul Airport served over 268,200 passengers on Sunday, highest number since its opening, says minister.
New Report Reveals Changing Face of Luxury Travel in Asia Pacific
The Luxury Group by Marriott International launches extensive research among affluent travelers across six markets.
Education and diversification recognized as key to future of tourism in Asia and the Pacific
Diversifying tourism across Asia and the Pacific, alongside promoting more and better education, will be key to building a more resilient and sustainable sector.
Shanghai aims to be currency-friendly for visitors
Shanghai's foreign currency exchange service points have achieved full coverage in 16 districts, distributing in airports, star-rated hotels, commercial districts, and tourist hubs.
TUI driving Tours & Activities offering for lastminute.com brands as preferred partner
TUI platform with experiences in over 100 countries integrates with existing lastminute.com channels and touchpoints.
Taking off family-friendly with Eurowings
Everything you need to know about flying with children.
Brand Africa to take centre stage as UN Tourism unlocks region’s potential
UN Tourism will bring together sector leaders to emphasise the importance of collaboration to unlock investment and growth potential across the region and to amplify the voice of “Brand Africa”.
HBX Group and PerfectStay join forces to offer roll-out B2B2C travel packages globally
HBX Group, a leading player in the B2B TravelTech ecosystem, announces today a strategic partnership with PerfectStay, a leading B2B company specialising in tailored holiday packaging. This collaboration aims to create a new global leader in B2B2C pa
Jens Fehlinger to become CEO of Swiss International Air Lines
Jens Fehlinger will be the new CEO of Swiss International Air Lines (SWISS). He will assume his new role on 1 October 2024 and succeed Dieter Vranckx who will become a member of the Lufthansa Group Executive Board as of 1 July 2024.
DoubleTree by Hilton to Debut in New Cairo’s ‘At Forty’ Commercial Complex
Hilton (NYSE: HLT) today announced the signing of DoubleTree by Hilton New Cairo At Forty Residences in partnership with Misr Company for Investment and Development Co.(MID). Expected to open in 2027, the upscale property will provide contemporary ac
Vietnam’s Travel and Tourism Set for a Record 2024
The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) has today revealed that Vietnam’s Travel & Tourism sector is forecast to inject a record đ770.8TN into the national economy this year.
Emirates unveils first destinations to be served with refurbished Boeing 777
Emirates has today unveiled the first cities on its network to be served with its newest Boeing 777 cabin interiors.
India's Travel & Tourism Sector Shows Strong Recovery with Domestic Tourism Leading the Way
The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) reveals a significant recovery of India’s Travel & Tourism sector, with domestic tourism playing a pivotal role.
