Egypt's Tourism Revenues Jump 25.7%

Egypt's tourism revenues jumped by 25.7 percent during the second half of 2022 and the first half of 2023 to record $10.3 billion, the Egyptian Cabinet's Information and Decision Support Center (IDSC) said on Monday, citing new data published by the Central Bank of Egypt (CBE).

According to CBE's numbers, tourism revenues in Egypt have significantly increased due to a rise in the number of tourist nights by 27.8 percent annually, totaling approximately 110.5 million nights.

IDSC said that the International Air Transport Association (IATA) predicts a rise in international tourism arrivals to 4.35 billion globally this year, which is nearly the same as the pre-COVID record of 4.54 billion in 2019.

Earlier this year, the Egyptian Cabinet announced that the tourism sector would be included in the initiative to support productive sectors, such as the industrial and agricultural sectors. LE 10 billion was allocated to the tourism sector, increasing the total investment available through the initiative to LE 160 billion.