The country recorded 7 million in the first part of 2023, and 15 million are expected by the end of the year.
Egypt’s tourism sector saw double-digit expansion in the 2022-2023 fiscal year, surpassing its pre-COVID-19 figures, achieving profits of $13. 6 billion during the period.
The country, which is experiencing a tourism boom, saw earnings expand 26. 8% from last year’s figure of $10. 7 billion, according to a report by Egypt Today, which includes data from the central bank.
Additional figures reveal that the number of tourists visiting the country increased by 35. 6% in the same period, reaching around 13. 9 million. Egypt Today also reported that the number of nights spent by tourists in the country saw a remarkable increase of 27. 6%. achieving 146. 1 million nights in the 2022-2023 fiscal year.
Last month, the country’s Minister of Tourism and Antiquities, Ahmed Issa, told AP News that it welcomed 10 million tourists in the first 8 months of this year, putting the country on track to reach the expected 15 million visitors in 2023.
Egypt’s tourism industry reached record levels in 2019 with thirteen million visitors and thirteen billion dollars in revenue, before the COVID-19 pandemic hit. This sector is important to Egypt’s economy and accounts for around 12% of the country’s annual GDP.
The country has now set itself the goal of attracting 30 million tourists by 2028, with the aim of attracting tourism investment and expanding its hotel portfolio.
(Written by Bindu Rai, edited by Daniel Luiz)
bindu. rai@lseg. com
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