Until the year 2021, Egypt’s tourism industry growth will be driven by arrivals from the Middle East, North America and Africa, according to data published ahead of this year’s Arabian Travel Market.
Between 2018 and 2021, arrivals from North America will increase at a Compound Annual Growth Rate (CAGR) of 3.9 per cent to 318,844, a result of the cheaper Egyptian Pound and government incentives for charter airlines.
During that same period, African visitors are expected to rise by 3.8 per cent CAGR to more than 300,901, while arrivals from the Middle East are predicted to jump by three per cent CAGR to over 1.34 million. This is in contrast to a projected 1.6 per cent CAGR in European visitors – usually a key source market for Egypt, with 5.2 million arrivals having been recorded in 2017.
The last 12 months have proven fruitful for Egypt’s tourism industry, with arrivals up by 33.3 per cent, as revealed by Colliers International.
Senior exhibition director, ATM, Simon Press commented: “The tourism industry in Egypt recorded a strong performance in 2017, welcoming 7.2 million visitors, predominantly from Saudi Arabia and the rest of the GCC, after many years of muted growth. This is great news for the country and we expect this trend to continue in 2018 as a series of new attractions and investments are unveiled.”
In order to further boost numbers and spread awareness, Egyptian tourism entities will be attending this year’s ATM in full force. Attendees will include: Four Seasons Resort Sharm El Sheikh; Nile Ritz-Carlton, Cairo; Mövenpick Resort Sharm El Sheikh; Dana Tours; Egypt Express Travel; Royal Ambassador; and DLC, as well as the Egyptian Tourism Authority.
Looking ahead, Egypt’s tourism industry is expected to flourish. The resumption of flights to Sharm El Sheikh from Europe will kick-start the return of air transport between the UK and the Red Sea resort, and also Russia and the Red Sea destination.
“To win back the millions of tourists who used to arrive in the country each year, Egypt signed a three-year, $66 million contract, with advertising agency J. Walter Thompson to create promotional campaigns for 27 source markets,” said Press.
“In addition, Hilton’s Waldorf Astoria, Starwood’s St. Regis and Swiss brand Mövenpick, are some of the names confirmed to operate the 52 new hotel projects currently under development,” he added.
Over the next four years, the rise North American, African and Middle Eastern tourists will positively impact leisure and corporate travel in Egypt.
With its eye on the prize, the Egyptian Government will be going ahead with various tourism investments, including a new national museum and a series of new airports across the country, to further enhance the country’s tourism portfolio.