I think its time now to change, and focus on the quality tourism as mass tourism will not be there anymore because travel will not be affordable for all as it was previously, and it will not be a priority for people, even for business people, as they will remain afraid of the experiences of lockdown globally, El-Damery said, Travel will also be expensive for people, bearing in mind the economic repercussions of the pandemic.. There was no diversity of tourism patterns, as 90% of the tourism coming to Egypt until 2019 was beach tourism, so we have to take advantage of the competitive advantage of the Egyptian tourism product, as we are distinguished by one-third of the worlds monuments, and cultural tourism should be the focus of tourism in Egypt, El-Damery said. The flight was part of a wider incentive programme implemented by the Ministry of Civil Aviation to facilitate flights between cities in the Red Sea and Upper Egypt. The cookie is used to store the user consent for the cookies in the category "Performance". Your email address will not be published. Currently, you are using a shared account. Germany also resumed flights between Frankfurt and Hurghada in 2021. Tourism Statistics Egypt VS Coronavirus: Tourism blow creates domino effect Its a certain thing that the tourism industry in Egypt has a long history and that is due to the ancient civilizations that go back more than 5000 years ago. This cookie is set by GDPR Cookie Consent plugin. Produced by a dedicated team of in-country analysts, our research provides the in-depth business intelligence you need to evaluate, enter and excel in these exciting markets. tourism But opting out of some of these cookies may affect your browsing experience. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. The success of these reforms will depend on a number of factors, including the political will of the government and the support of the Egyptian people. In February 2021 the National Bank of Egypt and AlSharif Holding Group signed a LE978.2m ($61.8m) long-term financing agreement for the modernisation and development of the 260-room Shepheard Hotel in Downtown Cairo. Tourism industry in Egypt + Leisure Travel. Determine the factors affecting demand and supply side in the tourism WebThe tourism and hospitality industry in Egypt is suffering since 2011 as reflected in its contribution to GDP and the laying of thousands of employees . The programme included a number of objectives, including increasing the number of individuals employed in the sector and encouraging sustainable practices throughout the industry value chain. statistic alerts) please log in with your personal account. The cookie is used to store the user consent for the cookies in the category "Other. Why did Egypts inflation increase during June 2023? Whilst there was no formal furlough scheme in place in Egypt, affected workers could receive a monthly subsidy for a period of three months, which at least offered a lifeline. Subscribe to our newsletter and never miss our latest news, podcasts etc.. Egyptian tourism in 2021: How to overcome challenges for speed recovery? Egypts interest in tourism has The Egyptian tourism industry offers an enchanting blend of ancient wonders, cultural heritage, and natural beauty. We need a national strategy adopted by the state to support the sector, on top of this strategy is aviation, he said. The winter initiative followed previous campaigns that aimed at boosting domestic tourism during the pandemic, when restrictions limited international arrivals. This is expected to fall by 8.4% in 2017 and rise by 4.3% pa to 1,081,000 jobs (3.2% of total employment) in 2027. The country is also about to venture into nuclear energy, after years of deliberations and plans are underway to establish a $1.5-billion nuclear power plant at El Dabasa. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The economic progress, stability of security, and the desire for knowledge contributed to the spread of the tourism industry and the activity of trips in Egypt during this period. Egypts tourism sector has suffered a significant downturn following the 2011 Revolution, from which the sector suffered a devastating blow. Ukraine - Coming in second is Ukraine, with 1.5 million recorded tourists for 2019. E-TRP aims to modernise Egypts tourism promotion activities. Save my name, email, and website in this browser for the next time I comment. WebWithin 25 years, the country's dependence on tourism has decreased slightly. History of Tourism Industry in Egypt Egypts Travel & Tourism sectors contribution to the nations GDP fell from $32 billion (8.8%) in 2019, to $14.4 billion (3.8%), just 12 months later, in 2020. Sharm El Sheikh is set to play a significant part in Egypts preparations to host COP27. Egypt was expecting significant growth in tourism going into 2020 with the opening of new flight routes and museums, as well as investment in antiquities. According to the IMF, the tourism industry employed 10 percent of the population and contributed to about 12 percent of GDP pre-pandemic. Subscribe to our newsletter to get our newest articles instantly! Plug Power Stock Gains Momentum with Northlands Upgraded Outlook, Foxconn Considers Partnership with TSM and TMH for Chip Manufacturing in India, Microsofts Stock Rises as UBS Upgrades, Cites Positive Outlook for Cloud Spending and AI Initiatives, UnitedHealth Stock Surges After Beating Q2 Expectations Despite Increasing Costs, Goldman Sachs Warns of 25% Recession Risk in Next 12 Months, JP Morgan Downgrades AT&T as Wireless and Broadband Concerns Arise. These cookies track visitors across websites and collect information to provide customized ads. With most of the country being a desert, and having some of the highest annual solar hours in the world, it is expected that Egypt is a major player in solar energy production. He said that Egypt already has more than 220,000 rooms, and a similar number under construction, adding that he does not recommend increasing hotel capacity in tourist cities, but to invest in aviation or any need that serves tourism. Impact of the Egyptian Political Events during 2011 Most of Egypt sits on a desert, which expands each year, threatening the countrys 3.1 million-hectare arable land. Divestment is a critical component of the EFF-supported program, said IMF spokesperson Julie Kozack. 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Tourist numbers in Egypt reached their highest in 2010 when approximately 14.7 million visitors toured the country bringing in $12.5 billion in revenue. Second, it extended two pandemic-support initiatives implemented by the Central Bank of Egypt (CBE) through the end of 2022. Get expert, on-the-ground insights into the latest business and economic trends in more than 30 high-growth global markets. The sales are also seen as a vote of confidence in the Egyptian economy by foreign investors. Egypts economy grew by 6.6% in the previous fiscal year 2021/2022 compared to a growth rate of 3.3% in the year prior. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. In 2017, the total value of the tourism industry in Egypt was valued at $7.6 billion, which was an increase of 123.5% over figures from the year before. material of their respective owners. The payment is encrypted and transmitted securely with an Stripe SSL protocol. After contributing 11.3% of the Egyptian GDP in 2010, the whole tourism sector has contributed 5.6% of the Egyptian GDP in 2017 (Global Environmental Facility, 2018). Tourism Required fields are marked *. dollars)." Destination marketing and image repair during tourism Egypt The pandemics impact on the tourism sector in markets around the world was significant, as travel restrictions were implemented and borders closed to contain the spread of the virus. Cairo, Egypt, Apr 06 (IPS) - Tourism to Egypts GDP is as vital as the Nile to its people. It does not store any personal data. The new port features 3300 hotel keys and 23 residential neighbourhoods, as well as beaches and golf clubs. El-Zayat said that this was due to the lack of trust and uncertainty people felt regarding travel. To use individual functions (e.g., mark statistics as favourites, set Please agree to all the terms and conditions before proceeding to the next step. Dollars). You also have the option to opt-out of these cookies. Egypt: tourism expenditure Contribution value of travel and tourism to Gross Domestic Product (GDP) in Egypt from 2019 to 2021 (in billion U.S. dollars) [Graph]. Learn more about how Statista can support your business. Cairo - Comprehensive Overview of the City, PEST Analysis and Key Industries including Technology, Egypt Tourism Industry Outlook 2022 - 2026. However, efforts have been made to maintain the upward trend. El-Damery noted that before 2014, only four markets, namely Russia, Germany, England, and Italy, made up more than 75% of Egypts annual tourism revenues. T: +20-100-416-5642E: info@egypttourz.com. If you are an admin, please authenticate by logging in again. Aswan High Dam is the most important of the three and has an electricity production capacity of 2,100 MW. Accessed July 17, 2023. https://www.statista.com/statistics/1317339/value-added-of-travel-and-tourism-to-gdp-in-egypt/, WTTC. Tourism was one of the first and hardest hit industries when the coronavirus entered Egypt. Occupancy rates were low during the initial months of the pandemic, at 28.4% for the first 10 months of 2020 compared to 67.8% for the same period the previous year. The importance of these new facilities for Egypts tourism industry cannot be overstated. Several new and resumed flight links have opened up in recent years, as did new domestic routes linking tourist destinations. Egypts tourism to recover to 2019 levels not before 2024: Ex-ETF Chairperson, Private sector engagement, green recovery are main themes in 2021: Minister Al-Mashat, EGX to launch Tamayoz index, new closing prices mechanism in 2021: Chairperson, Actual climate action implementation needs enhanced global, regional, national efforts: Mahmoud Mohieldin, CI Capital concludes 7 securitization deals worth EGP 27bn. The Great Pyramids of Giza, are the countrys star attraction. However, the number of tourists who visited Egypt in 2019 remains lower than the 2010 peak, in which 14.7 million tourists visited. Reuters quoted the minister as saying that a total of 3.5 million tourists visited Egypt in 2020, compared to 13.1 million in 2019. Moreover, the government has sought to bolster the domestic tourism market, encouraging Egyptians to take their holidays in cultural destinations. The ministry was created in 2019 after a reshuffle merged the Ministry of Antiquities and the Ministry of Tourism. This cookie is set by GDPR Cookie Consent plugin. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. March 1, 2022. Egypts Eastern and Western Deserts are believed to cumulatively have 5.7 million barrels in shale oil reserves, among the highest in the region. Virginia Messina, Senior Vice President WTTC said: The loss of 844,000 Travel & Tourism jobs in Egypt has had a significant socio-economic impact, leaving huge numbers of people, who rely on a thriving sector, fearing for their future. According to The World Travel & Tourism Council (WTTC), Egypts tourism industry has demonstrated rapid growth since the decline that followed the 2011 revolution. Historically, the tourism industry is one of the largest so urces of foreign revenue for Egypt and its tourism sector earned $12 billion in 2010 (Yousef, 2011). London, UK: The World Travel & Tourism Councils annual Economic Impact Report (EIR) today reveals that the dramatic collapse of Egypts Travel & Tourism sector wiped out a staggering $17.6 billion from the nations economy last year. In 2021, travel and tourism contributed 5.1 percent to Egypt's Gross Domestic Product (GDP). Subscribe to our newsletter to get our newest articles instantly! He explained that the demand for travel to Egypt is very high. WebThe U.S. government through the U.S. Agency for International Development (USAID) has provided assistance valued at over $100 million since 1995 to conserve monuments and masterpieces spanning the full range of Egypt's long cultural heritage from Pharaonic times to the late Ottoman period. This cookie is set by GDPR Cookie Consent plugin. How much will Egypt Tourism Market grow to 2026? The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. Specifically, these were rescheduling of debts and arrears, and postponing of fees owed to the government. Egypt: tourism value added to GDP | Statista Most of the imported grain is sourced from the United States. Egyptian context is the center of our research because it has the most diverse economy and the largest tourism industry in Africa [23]. Industry officials have called for immediate action. These efforts to increase the sustainability of the tourism industry will provide an important case study of Egypts determination and commitment to the global fight against climate change and biodiversity conservation. Indeed, ecotourism plays a central role in Egypt Vision 2030s framework for sustainable economic development. This collapse in international travel has translated into an estimated loss of $1.3trn in export revenues. IMF welcomes Egypts $1.9bn state-owned asset sales Domestic tourism spending saw a similar trend, falling by 32.3% from $11.1bn in 2019 to $7.5bn in 2020. Mysteries Of Egypt: How Were The Pyramids Of Egypt Built. From exploring the pyramids to cruising along the WebPerformance & Size. The Gulf of Suez, the Western and Eastern Deserts, and the Sinai Peninsula are Egypts top oil-producing regions. News, analysis and comment on tourism, travel, and hospitality from the Daily News Egypt, the country's leading English language publication. Egypt Sudan - 752,000. Use Ask Statista Research Service, Number of international tourist arrivals in selected African countries 2019-2021, Number of tourist arrivals Egypt 2010-2020, African countries with the largest international tourism receipts 2021, Contribution of travel and tourism to GDP in Egypt 2005-2021. Available: https://www.statista.com/statistics/1317339/value-added-of-travel-and-tourism-to-gdp-in-egypt/, Contribution value of travel and tourism to Gross Domestic Product (GDP) in Egypt from 2019 to 2021, Immediate access to statistics, forecasts & reports, Total contribution of travel and tourism to employment in Africa 2008-2020, Number of international tourist departures in Northern Africa 2013-2028, Value added of travel and tourism to GDP in Egypt 2019-2021, Contribution of travel and tourism to GDP Egypt 2019 and 2021, by visitor origin, Contribution of travel and tourism to GDP Egypt 2019-2021, by segment, Employment impacts of travel and tourism Egypt 2012-2021, Inbound one-day visitor arrivals in Egypt 2008-2019, Number of international tourist arriving in Egypt 2020, by means of transportation, Number of nights spent by tourists Egypt 2019-2020, by region of origin, Inbound tourism expenditure over exports of goods in Egypt 2008-2021, Inbound tourism expenditure over exports of services in Egypt 2008-2021, Outbound tourism expenditure in Egypt 2008-2021, Outbound tourism expenditure over imports of goods in Egypt 2008-2021, Outbound tourism expenditure over imports of services in Egypt 2008-2021, Number of hotels and similar establishments tourism industry Egypt 2008-2019, Number of rooms in hotels and similar establishments Egypt 2008-2019, Hotel room occupancy rate Egypt 2008-2019, Length of stay of international tourists in commercial accommodations Egypt 2007-2019, Contribution value of travel and tourism to Gross Domestic Product (GDP) in Egypt from 2019 to 2021 (in billion U.S. dollars), Find your information in our database containing over 20,000 reports. "Contribution Value of Travel and Tourism to Gross Domestic Product (Gdp) in Egypt from 2019 to 2021 (in Billion U.S. Moreover, with 1.5bn international tourist arrivals worldwide, it contributed more than 10% to global GDP and accounted, Find our research on the Bloomberg Terminal, Dow Jones Factiva, Eikon, S&P Capital IQ, LexisNexis and more. Tourism, from The Report: Egypt 2022 - Oxford Business Group He continued that it is necessary for the next period to diversify more the markets through market studies and open new markets. Tourism receipts in Egypt are expected to reach $2.8 billion by 2026. Egypts popularity as a top tourist destination rose tremendously in the 20th century, with tourist numbers growing from 100,000 in 1951, to 5.5 million in 2000. The sales of state-owned assets are a significant step for Egypt. It also looks at key investments in the energy, Greener destinations: The global tourism industry looks to adopt sustainable practices in its post-Covid-19 pandemic recovery strategyThe global tourism industry which accounted for 10% of GDP and 8% of global emissions in 2019 is faced with the challenge of ensuring continued growth while working towards net-zero emissions goals. After Egypts tourism sector began to recover following the Russian plane crash in 2015. This cookie is set by GDPR Cookie Consent plugin. The same year the authorities began a programme in which tourists receive an SMS upon arrival with the ministrys hotline and emergency numbers. El-Damery said that the countrys medical capabilities will still have an important and influential role in the peoples decision to travel, so the strategy needs to include the Ministry of Health. It launched a 50-billion-pound support to the tourism industry, lowering the interest rate from 10% to 8%. Indeed, public investment in the tourism sector and concerted marketing campaigns aimed at fuelling engagement laid the groundwork for a rebound. As mentioned before that the problem is global, so the competition now between countries relates to how fast they can recover from the hiatus caused by the global health crisis. These cookies ensure basic functionalities and security features of the website, anonymously. In May 2021 the CBE amended an initiative to make it easier for hoteliers to afford renovations, financing a maximum of 90% of the costs of replacement and renewal, up from the previous 75% rate. Foreign investors were also involved in hospitality renovations: in September 2020 the Abu Dhabi Tourism Investment Company announced that it would implement a series of hotel renovations in 2021, and refurbished three facilities in Cairo, Hurghada and Sharm El Sheikh. Produced by a dedicated team of in-country analysts, our research provides the in-depth business intelligence you need to evaluate, enter and excel in these exciting markets. COVID-19 sparks a 55% collapse in the sectors contribution to GDP In December 2021 the MoTA launched a Sunny Christmas online campaign to attract tourists during Christmas and the New Year, as well as those looking to escape cold weather in the northern hemisphere for Egypts warm beaches. The country relies on food imports to sustain its domestic demand. Along with this, there should be public-private partnerships to include enhanced cooperation, consultations of governments with relevant stakeholders, and inter-governmental committees. Save my name, email, and website in this browser for the next time I comment. In addition, Arab Company for Hotels and Tourism Investment (ICON), a subsidiary of TMG Holding, has allied with a foreign investor and participated in increasing the capital of the newly established Holding Company for Tourism and Hotels by 37% and a value of $700 million. However, new flight routes and marketing campaigns are set to maintain the upwards trend. By streamlining the visa process, Egypt can attract more tourists and enhance its reputation as a welcoming and tourist-friendly destination. The biggest of all refineries in the country is the El-Nasr Refinery situated in Suez, which has a capacity of refining about 0.146 million barrels of oil each day. However, the industry is yet to reach such heights in revenue and tourist numbers, after the 2011 Arab Spring and the civil unrest that ensued ruined the nations reputation internationally. The Cairo / Suez road was paved with stones. The country has put in place infrastructure to tap into this energy resource, which is expected to account for about 12% of the countrys electricity production. From a macro perspective, I would suggest the following, enriching the accessibility to Egypt and speeding up the operation of the New Administrative Capital Airport, Sphinx Airport, and Alamein Airport, together with expanding the current main airports, Kaoud suggested.
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