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This holds in spite of the worldwide vaccination programmes against the virus, as travellers would still not have the confidence to pack their bags due to the economic consequences of the pandemic. Spread the word and it is a great industry to invest in, said Mr Issa at a talk at the American Chamber of Commerce in Egypt on Monday. Here are some articles that you may find interesting. Tourism is considered one of the most important pillars in Egypt s economy . Total tourism receipts in Egypt, or expenditures made by inbound visitors to the country, stood at $16.4 billion in 2019, and Egypt's tourism industry is on its way to a We also use third-party cookies that help us analyze and understand how you use this website. Egypts Eastern and Western Deserts are believed to cumulatively have 5.7 million barrels in shale oil reserves, among the highest in the region. WebWe will write a custom Proposal on Egyptian Tourism Industry and Terrorism Effects specifically for you. Germany also resumed flights between Frankfurt and Hurghada in 2021. 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). Egypt The performance of Egypts economy is dictated by the countrys energy industry, which is the countrys top foreign exchange earner. For his part, Kaoud said that on top of the governments fast economic recovery plans, he would suggest the following, fiscal policy to include tax reductions, monetary policy to include credit guarantees to banks and rescheduling of bank credits. 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. By 2020 this figure dropped to 6.2%, or 1.6m workers. 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 museum will be home to around 100,000 artefacts 3500 of which belonged to King Tutankhamen making it a centre for Egyptology, with easy access for tourists due to its proximity to the Great Pyramids of Giza. Sharm El Sheikh is set to play a significant part in Egypts preparations to host COP27. It does not store any personal data. Egypt There are several new hotels and resorts in the pipeline that are set to further boost the number of rooms in the market: 14 projects with 3570 rooms are set to be completed in 2022, followed by 12 properties with 2990 rooms in 2023. The number of those employed in the Egyptian Travel & Tourism sector fell from 2.4 million in 2019, to nearly 1.6 million in 2020 - a drop of more than a third (35%). Destination marketing and image repair during tourism Grains (rice, wheat, and corn), cotton, sugarcane, tobacco, and onions are the most important crops in Egypt. The government also waived entry visa fees for tourists at the beginning of 2021. In March 2022 Moataz Sedky, vice-chairman of the tourism committee of the American Chamber of Commerce in Egypt, told local media that he expected tourist arrivals to fall by 35% over the course of the year. WebWithin 25 years, the country's dependence on tourism has decreased slightly. Egypt is also aiming to become a top destination for golf, with over 25 golf courses across the country. Cumulatively, all nine refineries in the country have a daily capacity of processing over 0.726 million barrels. Ukraine - Coming in second is Ukraine, with 1.5 million recorded tourists for 2019. In 2020, when international arrivals and tourism operations were affected by the pandemic, there was a worry that the tourism industry would lose its post-2017 momentum. Egypt He mentioned that after adopting this strategy, there is likely to be a decline in the phenomenon of below-cost pricing, so thats why we will witness a smaller number of the arrivals, but a hike in the revenues. Tourism became an important sector of the economy from 1975 onwards, as Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. J a c k on Twitter: "Egypt made $4bn+ in the first quarter of this The pandemics impact on the tourism sector in The country consumes most of its oil; as much as 0.564 million barrels each day, the majority of which is used in power production. Webresilience in the tourism industry. The country relies on food imports to sustain its domestic demand. Profit from the additional features of your individual account. Inter Press Service. The 2018/19 earnings from tourism provided USD 12.6 billion (4.2% of GDP) to the economy (Central In 2021 the MoTA promoted the Enjoy your Winter in Egypt initiative, working with the Supreme Council of Antiquities to offer Egyptians reduced prices at museums and archaeological sites. EGYPT The government hopes the restoration of several historical sites and the reopening of museums after pandemic-related closures will encourage cultural tourism. The Egyptian tourism industry offers an enchanting blend of ancient wonders, cultural heritage, and natural beauty. Aswan High Dam is the most important of the three and has an electricity production capacity of 2,100 MW. To use individual functions (e.g., mark statistics as favourites, set In August 2021 Russia resumed flights to Sharm El Sheikh and Hurghada following a six-year hiatus. Travel and tourism constituted the sixth-largest source of foreign currency with a total contribution of USD 2.6 billion in The ministry was created in 2019 after a reshuffle merged the Ministry of Antiquities and the Ministry of Tourism. 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. 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. But the biggest mistake that we should not do is to wait for the tourism recovery, while operating with the same mechanism from before the COVID-19, he said, If we do this all the countries will be enhanced in terms of tourism and will take all the tourists from us.. Several new and resumed flight links have opened up in recent years, as did new domestic routes linking tourist destinations. Tourism industry in Egypt + Leisure Travel. Indeed, public investment in the tourism sector and concerted marketing campaigns aimed at fuelling engagement laid the groundwork for a rebound. Exploring the Richness of Egypts Tourism Industry 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. In recent years the MoTA has prioritised expanding Egypts reputation for tourism offerings beyond sun, sea and antiquities. Number of tourist arrivals Egypt 2010-2020 + Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. In FY 2019/20 the government invested LE15.2m ($965,800) in the sector, with economic authorities and public companies contributing an additional LE43.5m ($2.8m) and LE260.1m ($16.5m), respectively, according to the CBE. Locals Struggle as Tourists Have Egypt All to Themselves In 2019 there were just over 13m international visitor arrivals, an increase from 11.3m the previous year and 5.4m in 2016. Cairo - Comprehensive Overview of the City, PEST Analysis and Key Industries including Technology, Egypt Tourism Industry Outlook 2022 - 2026. The report also revealed domestic visitor spending declined by almost a third (32.3%), while international spending fared much worse, due to more stringent travel restrictions, causing a fall of 74.5%. 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. Egyptian Tourism According to The World Travel & Tourism Council (WTTC), international arrival spending totalled LE261.6bn ($16.6bn) in 2019. 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.. 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 excursions are managed by Biblio-Globus, a Russia-based tourism operator, which will manage flights to Hurghada and Sharm El Sheikh. Since 2000, there has been an increase of 19% each year. The official currency used in the country is the Egyptian pound. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. The International Monetary Fund (IMF) has welcomed the Egyptian governments announcement of signing $1.9bn deals to sell equity stakes in state-owned entities. Matters related to tourists from their arrival in Egypt during their stay until their departure. Your email address will not be published. These cookies ensure basic functionalities and security features of the website, anonymously. In general there is currently a movement in the tourism, due to the mid-year holiday for schools and universities in Egypt, I think the average current occupancy rate in Luxor, Aswan, Hurghada, Sharm El-Sheikh, ranges between 40%-50%, while the occupancy rate in Cairo is only 30%, Ehab Abdel Aal, Treasurer of the Cultural Tourism Association, told Daily News Egypt. The Egyptian government announced on Sunday that it has raised $1.9bn from its Asset Monetization Programme. Egypt promotes yacht tourism after dip 19 Egyptian Tourism Industry Statistics, Trends & Analysis With commentary from President Abdel Fattah El Sisi and key players across the public and private sectors, along with a sector-by-sector guide for investors, The Report provides insight into areas of the economy that are set to drive long-term growth. Third, the government eased access for tourists, requiring only a negative PCR test upon arrival. 808 certified writers online. Domestic tourism spending saw a similar trend, falling by 32.3% from $11.1bn in 2019 to $7.5bn in 2020. Currently, you are using a shared account. Egypts tourism numbers dropped to 3.7 million in 2020, from about 13 million in 2019, before slightly recovering to eight million in 2021, according to the countrys statistics agency Capmas. The decline in tourist numbers witnessed in the recent past has had a domino effect in other sectors of the industry such as hospitality, tours, and travel. Through investment in tourist sites and antiquities, as well as private spending on hotel renovations during the pandemic, Egypt has reopened its doors to international tourists. Moreover, the MoTA is working with the Ministry of Youth and Sport in the planning of several upcoming international sporting events, including diving, high diving and artistic swimming events that are scheduled to be held between 2023 and 2026. Specifically, these were rescheduling of debts and arrears, and postponing of fees owed to the government. Indeed, ecotourism plays a central role in Egypt Vision 2030s framework for sustainable economic development. This cookie is set by GDPR Cookie Consent plugin. The private sector accounted for the bulk of investment over this period, or LE5bn ($315.9m) in FY 2019/20 and LE6bn ($379m) in FY 2020/21. Egyptian Tourism Industry and Terrorism Effects Analytical cookies are used to understand how visitors interact with the website. WebThe Egyptian Tourism Federation (ETF) is composed of five tourism industry business associations the Hotels Association, the Travel Agents Association, the Chamber of Read more about this report and view purchase options in our online store. In addition to renovation projects, 19 new hotels were opened in 2021. WTTC believes that another year of terrible losses can be avoided if the government supports the swift resumption of international travel, which will be vital to powering the turnaround of the Egyptian economy. Annual exports from the country are valued at $20.88 billion, with the primary export commodities being petroleum products and crude oil, chemicals, and textiles. The Ministry of Tourism and Antiquities (MoTA) is responsible for implementing government policies related to the sector, as well as for providing oversight of industry players such as travel administrators and tour guides. The pandemic had a devastating impact on the global international tourism sector in 2020, causing a 74% drop in international arrivals. In June, Egypt appointed International Finance Corporation (IFC) as the strategic advisor for the governments Asset Monetization Programme, which will focus on harnessing private capital and know-how to manage state-owned assets. Egypt is an incredibly popular destination, and one which adopted our Safe Travels stamp many months ago, showing just how important the return safe international travel is, not only for businesses and jobs, but for the wider economy. This cookie is set by GDPR Cookie Consent plugin. The contract for these stakes was awarded to the Abu Dhabi Development Holding Company (ADQ) for $800 million. In the years prior to the pandemic the sector thrived, recording its 10th consecutive year of growth in 2019. 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. The question now should focus on how to speed up Egypts recovery. Subscribe to our newsletter and never miss our latest news, podcasts etc.. Egyptian tourism in 2021: How to overcome challenges for speed recovery? 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. Adopting sustainable strategies to revive global tourism, Video: Agriculture, energy and infrastructure drive economic growth in Egypt, Greener destinations: The global tourism industry looks to adopt sustainable practices in its post-Covid-19 pandemic recovery strategy. According to the IMF, the tourism industry employed 10 percent of the population and contributed to about 12 percent of GDP pre-pandemic. Following the plane crash, Russia imposed a travel ban on Egypt, while the UK suspended all flights to Sharm El-Sheikh amid concerns over the airports security measures, and banned travel to Sinai. News Article | World Travel & Tourism Council (WTTC) Egyptian context is the center of our research because it has the most diverse economy and the largest tourism industry in Africa [23]. The importance of tourism contributions in Egyptian economy He also noted that the economic recovery from the pandemic will only take place after three or four years, so the decision for travelling will not be easy. In 2020, tourist receipts plummeted due to the COVID-19 pandemic. The new port features 3300 hotel keys and 23 residential neighbourhoods, as well as beaches and golf clubs. Indeed, in 2021 and the early months of 2022 international arrivals began to pick up pace, as new source markets materialised. Divestment is a critical component of the EFF-supported program, said IMF spokesperson Julie Kozack. You also have the option to opt-out of these cookies. Your email address will not be published. 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. Several countries have sealed its borders and banned The merger was meant to bring emphasis to not only traditional sun-and-sand beach offerings such as Sharm El Sheikh and Hurghada, but also antiquities tourism. The cookies is used to store the user consent for the cookies in the category "Necessary". 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. The Egyptian Central Bank provided tourism operations with low-interest funds, especially for paying employees' salaries. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. El-Zayat said that this was due to the lack of trust and uncertainty people felt regarding travel. Egypt also inaugurated several domestic flight routes. Egypt's tourism sector sees 'remarkable growth,' tourism receipts to Tourism Notably, the revenue figures for 2019 broke the peak year revenues of 2010, which came in at $12.5bn. The tourism industry is the cornerstone of the Egyptian economy generating approximately 11.4% of Egyptian GDP and providing about 12.6% of direct and indirect job opportunities for Also, at the peak of the global risk aversion during March and April, Egypt experienced capital outflows of nearly $16 billion. He added, I think the occupancy rates will decrease in March as the holiday ends, reaching about between 15%-20% in Luxor, Aswan, Sharm El-Sheikh, and Hurghada, and will also decline to 15% in Cairo, before starting to increase again by the end of March and the beginning of April due to the Easter holidays.. The government has also worked to digitalise tourist services. WebTourism: The government estimates at around 1 billion USD monthly loss of income from tourism, which is a USD 12.5 billion/year industry, and contributes to 12% of GDP. Are you considering a tour to Egypt? Egypts However, if the reforms are successful, they could have a significant positive impact on the Egyptian economy. The government also introduced fixed-rate internal flight prices in 2020 and 2021 to encourage travel. The sales of state-owned assets are a significant step for Egypt. After shutting down at the beginning of the pandemic, hotels were permitted to open at 25% capacity in May 2020, a percentage that gradually rose before hotels were permitted to operate at full capacity in October 2021. This would also require the need for a hospitality council and/or ministry that enhances Egypts hospitality industry in terms of hotels and resorts. IMF welcomes Egypts $1.9bn state-owned asset sales Then COVID hit, and now the Ukrainian war shot a bullet through its heart. In, WTTC. The sales are also seen as a vote of confidence in the Egyptian economy by foreign investors. It launched a 50-billion-pound support to the tourism industry, lowering the interest rate from 10% to 8%. Egypt is also a major producer of natural gas, having Africas third largest confirmed gas reserves. 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. At the same time, there should be employment and skills to include temporary wage compensation, income support schemes, anddigitalisation and online/distance work widely supported. In 2019, Egypt attracted over 13 million foreign visitors, the highest number in Africa and the third highest in the Middle East. Egyptian tourism Egypt Tourism was one of the first and hardest hit industries when the coronavirus entered Egypt. To that end, the MoTA hosted Egypts pavilion at the Dubai Expo 2020, which was held from October 2021 to March 2022. A content analysis for governments and hotels response See how Egypt Tourism performed compared to key markets. Download Free PDF. First, the government prioritised vaccinations for tourism workers, particularly in the Sinai and the Red Sea governorates home to some of the countrys most-visited resorts to support the reopening of tourist destinations. 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. 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. The importance of tourism contributions in Egyptian economy Egypts tourism sector has suffered a significant downturn following the 2011 Revolution, from which the sector suffered a devastating blow. Towns such as El Gouna on the Red Sea have began to promote themselves as a digital nomad destinations. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information This comes in addition to the lessons learned from the COVID-19 pandemic, and when Egypt could return to 2019 levels. This cookie is set by GDPR Cookie Consent plugin. Egypt VS Coronavirus: Tourism blow creates domino effect Show publisher information These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. But opting out of some of these cookies may affect your browsing experience. dollars)." Chart. How much will Egypt Tourism Market grow to 2026? 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. During the reign of Abbas, I witnessed a special interest in the tourism industry and the provision of facilities that is necessary for the movement of tourists. Why did Egypts inflation increase during June 2023? Infrastructure investment positions Egypt's tourism industry for Subscribe to our newsletter to get our newest articles instantly! History of Tourism Industry in Egypt statistic alerts) please log in with your personal account. Indeed, the number of tourists who visited Egypt during the period from 1 January until the travel ban on 19 March 2020 reached 2 million, according to Ministry of Tourism and Antiquities data. 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 . Why did Egypts inflation increase during June 2023? It has provided support to hotel and tourism operations minimizing the real estate tax for 6 months. Egypt This article also features in The Report: Egypt 2022. 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. Egypt is a significant player in global oil production and is a member of the OAPEC (an acronym for Organization of Arab Petroleum Exporting Countries). The annual EIR from the World Travel & Tourism Council (WTTC), which represents the global Travel & Tourism private sector, shows the sectors impact on GDP dropped 55%. It is vital to investi-gate how tourism organizations can manage crises and risks (Majeed and Ramkissoon, 2020; Paraskevas and As for Egypt, tourism is a dominant sector. The pandemic caused a severe impact on all aspects of daily life, including the economy, with tourism no exception to this rule. WebThe book concludes that travel was familiar in ancient Egypt since the pre-dynastic times. Web2. At a Cabinet meeting in Cairo on Aug. 5, the ministers of tourism and transport discussed ways to develop this type of tourism upon directives from President Abdel Fattah al-Sisi to formulate a strategic plan to maximize yacht tourism by the end of this month. In 2013, 1.9 trillion cubic feet of the total 2 trillion cubic feet of natural gas produced in the country went to the domestic market. Worldwide pandemic restrictions have led many companies to move their workforces online, allowing their employees to work anywhere. He also said that this will be launched as soon as COVID-19 imposed limits start to be relaxed, which include fear of infection, strict travel restrictions, and procedures that spoil the pleasure of travelling. Tourism industry in Egypt + Leisure Travel. by Hisham Allam ( cairo, egypt) Wednesday, April 06, 2022. The industry employs about 12% of Egypts labor force and accounts for 11% of Egypts Gross Domestic Product. WebEgypt is developing ways to promote yacht tourism, hoping it brings large economic returns to the state. Cheaper flights connecting Cairo and Alexandria to destinations such as Luxor, Aswan, Sharm El Sheikh, Taba, Hurghada and Marsa Alam allowed both nationals and foreigners to travel within Egypt more easily. Saudi Arabia - Nearly 1.4 million Saudi Arabians frequented Egypt to visit family and engage in trade and tourism. Daily News Egypt dug into the answers for these questions through interviewing different experts. The government has also invited journalists, travel bloggers and influencers on guided tours to enhance its profile as a tourist destination in both traditional and social media outlets. Since Egypts interest in tourism has Get quick analyses with our professional research service. These added 3000 new rooms to the total, which measured in at 205,000 in February of that year. Another key contributor to Egypts economy is the countrys tourism industry. As a result of the ousting of President Hosni Mubarak (October 14, 1981, to February 11, 2011), there was a massive turmoil within the nation. The cookies is used to store the user consent for the cookies in the category "Necessary". We need a national strategy adopted by the state to support the sector, on top of this strategy is aviation, he said. In addition to domestic tourists, the campaign targeted visitors from France, Germany, Italy, the UK, Russia, Ukraine and the US. But opting out of some of these cookies may affect your browsing experience. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Tourism experts said that preventive measures taken by Egypt and other countries would lead to a sharp drop in tourists to Egypt.