The Clap
Counterintuitively, 2024 might be a good year for Egypt’s tourism sector.
What
Egypt witnessed a 5% YoY spike in the number of tourists during the first 40 days of 2024, according to a Tourism Ministry statement.
However
Despite the uptick, Egypt likely won’t reach 2024’s target of attracting 18 million tourists due to the current geopolitical tensions, Tourism Minister Ahmed Issa said at the 9th CEOs Thoughts conference last Monday.
Yet, Issa added that Egypt might still hit close to its target.
Now What
Egypt is expecting the tourism industry to grow by 45% in fiscal year 24-25, according to the Planning Minister.
Some context
Tourism arrivals reached a record-high of 14.9 million tourists in 2023, which went in line with Egypt’s target of attracting 15 million tourists last year.
