Cairo – Mubasher: Egypt’s tourism industry is expected to recover starting from 2018 to 2021 on the back of arrivals from the Middle East, North America, and Africa.
This data was published in a statement ahead of Arabian Travel Market (ATM) 2018 that will be held at Dubai World Trade Centre from 22 to 25 April.
North America visitors are likely to grow at a Compound Annual Growth Rate (CAGR) of 3.9% to 318,844 between 2018 and 2021, the data showed.
Cheaper Egyptian Pound and government's efforts to enhance international flights will drive growth in the Egyptian tourism industry, the press release added.
Meanwhile, arrivals from Africa are projected to rise by 3.8% CAGR to more than 300,901 visitors, while arrivals from the Middle East are likely to grow by 3% CAGR to over 1.34 million visitors.
As for arrivals from Europe, they are predicted to increase by 1.6% CAGR, the data added, noting that European visitors are the key source market for the North African nation with 5.2 million arrivals in 2017.
It is noteworthy that total arrivals to Egypt surged by 33.3% in 2016/2017, according to Colliers International's data.
Commenting on Egypt’s tourism industry, senior exhibition director of ATM Simon Press said: “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.
He added that it is good news for the Arab world's most populous country and “we expect this trend to continue in 2018 as a series of new attractions and investments are unveiled.”
Egypt’s most popular hospitality destinations in Sharm El Sheikh, Hurghada, Luxor and Cairo will participate at ATM 2018, including the Nile Ritz-Carlton Cairo and Mövenpick Resort Sharm El Sheikh.
Additionally, companies such as Egypt’s Dana Tours, Egypt Express Travel, Royal Ambassador and DLC will also exhibit at the event, the press release said, pointing out that the Egyptian Tourism Authority will also have a major presence.
The number of Egyptian delegates, exhibitors, and attendees participating at ATM 2017 show has grown by 4% in 2017.
“To win back the millions of tourists who used to arrive in the country each year, Egypt signed a three-year, US$66 million contract, with advertising agency J. Walter Thompson to create promotional campaigns for 27 source markets,” the statement highlighted.
“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,” it added.
The thriving number of arrivals from North America, African countries and the Middle East will bolster leisure and corporate travel in Egypt over the next four years.
Egypt had embraced approximately 14.7 million tourists in 2010, however, total arrivals dropped to 9.8 million visitors in 2011, pressured by the 25th January Revolution.
In October 2015, Russia halted its flights to the North African nation after a Russian plane crashed over the Sinai Peninsula, which resulted in killing 224 people on board.
