Recently released data ahead of the Arabian Travel Market (ATM) 2019 indicates that arrivals from the Middle East to Egypt are expected to increase by 50 per cent, from 1.49 million in 2018 to 2.23 million in 2022.
Visitors from Saudi Arabia will drive this growth, while arrivals from Europe are expected to be the largest contributor on a regional basis, increasing from 6.2 million in 2018 to 9.1 million tourists in 2022.
Research by Colliers International revealed that arrivals from the Middle East will actually witness the highest Compound Annual Growth Rate (CAGR) at 11 per cent.
“Over the last 12 months, Egypt’s tourism industry has witnessed healthy and steady growth, with arrivals up 14.5 per cent from 8.3 million in 2017 to 9.5 million in 2018,” exhibition director ME, ATM, Danielle Curtis said. “Growth has been fuelled by the cheaper Egyptian Pound and government incentives for charter airlines operating international flights.”
She continued: “Adding to this, we are witnessing this growth first hand at ATM with the total number of attendees coming from Egypt increasing 16 per cent YoY.”
Taking advantage of this resurgence in tourists are some of Egypt’s most prominent tourism companies, including Dana Tours, Nicolas Tours and Standard Tours, which will exhibit at ATM 2019, as well as the Egyptian Tourism Promotion Board, which will have a major presence too.
Egypt tourism capital investment is estimated to reach $ 4.2 billion in 2019, up 25 per cent on 2018, as the country strives to keep pace with an ongoing leisure travel boom and GDP growth.
The data from Colliers International revealed that Egypt’s total tourism revenue will increase at a CAGR of 16.5 per cent between 2018 and 2022, outperforming the business segment.
“The overall revenue generated by the leisure segment in 2018 represented 87 percent of total tourism spend and we expect this growth to continue as a series of new government and private sector attractions and investments are unveiled, including the development of new airports and new luxury hotel resorts in Red Sea destinations Sharm El Sheikh and Hurghada,” Curtis concluded.