Egypt: A Promising Future for Tourism

Egypt: A Promising Future for Tourism

Egypt is developing a national strategy to enhance tourism as the country aims to provide a distinguished tourism experience for visitors to Egypt. In this regard, the Ministry of Tourism has been working on several levels to achieve its goals and secure foreign currency in the midst of the latest economic challenges in securing foreign currency. Accordingly, the tourism industry has been performing well, with hopes that the outcome will be unprecedented after implementing the ongoing and future developments, which include empowering the private sector and providing tourist visa facilitation.

Tourism Development in Numbers

During the first quarter (Q1) of fiscal year (FY) 2022/2023, tourism revenues rose by 43.5% to record $4.1 billion from $2.8 billion, according to the Central Bank of Egypt’s (CBE) report on the balance of payments (BoP) performance.

Additionally, the Central Agency for Public Mobilization and Statistics (CAPMAS) stated on September 27th, 2022, that the number of tourists coming to the country increased by 85.4% in the first half (H1) of 2022 to 4.9 million tourists, compared to 2.6 million tourists during H1 2021. The number of tourists from all countries in the world reached 8 million in 2021, compared to 3.7 million in 2020, an increase of 117.5%.

Moreover,