Cairo – Mubasher: Egypt’s travel receipts (tourism revenues) hiked by 28.3% year-on-year, recording $12.57 billion in fiscal year 2018/2019, compared to $9.80 billion, according to data released by the Central Bank of Egypt (CBE).
On the other hand, the North African nation’s travel payments registered $2.9 billion during the twelve-month period ended 30 June, up from $2.45 billion in FY17/18.
According to travel and tourism competitiveness index (TTCI) report 2019, Egypt’s tourism and travel sector registered the highest performance improvement globally, jumping nine places to rank 65th.
It is noteworthy that Egypt's balance of payments (BoP) posted an overall deficit of $102.5 million in FY18/19, compared to an overall surplus of $12.78 billion in FY17/18.
