Cairo – Mubasher: Visitors from the Middle East to Egypt are projected to surge by 50% to 2.23 million in 2022 from 1.49 million in 2018, according to a recent data.
Saudi Arabia is expected to lead this growth in arrivals to the North African nation, data published ahead of Arabian Travel Market (ATM) 2019 revealed.
While European visitors are expected to top the highest growing regional source markets in terms of the number of visitors to Egypt by registering 9.1 million arrivals in 2022 from 6.2 million in 2018, travellers from the Middle East are forecast to register the highest compound annual growth rate (CAGR) at 11%, according to the latest study from Colliers International.
Egypt’s tourists grew 4.5% to 9.5 million in 2018 from 8.3 million a year earlier, supported by a cheaper Egyptian pound and the state’s incentives for charter airlines operating international flights, ATM’s exhibition director for the Middle East, Danielle Curtis, said.
The most populous Arab country’s tourism capital investment is likely to grow 25% year-on-year to $4.2 billion (EGP 75 billion) over the course of this year.
The North African country's total tourism revenues are expected to increase at a CAGR of 16.5% in the period between 2018 and 2022, exceeding the business sector.
Egypt’s top source markets included Germany, Russia, the UK, and Italy.
