Back to the complete issue
Sunday, 24 November 2019

Tourist arrivals to hit pre-revolution levels next month

Egypt’s tourist arrivals to hit pre-revolution levels next month: The number of tourist arrivals in Egypt should reach the same levels they were back in 2010 by the end of next month, Tourism Minister Rania Al Mashat said during a Bloomberg TV interview on Thursday in Beijing (watch, runtime: 5:55). Al Mashat noted that tourism revenues had already recovered to previous record levels in FY2018-2019, reaching USD 12.5 bn, but arrival numbers continued to lag. This mismatch indicated that tourists who now visit Egypt tend to stay for longer durations, according to the minister.

Tourism in Egypt is an ideal example for how the private sector can lead an industry with the support of the government, with some 98% of the industry being operated by private companies, Al Mashat said. She noted that the strong presence of the private sector in Egypt’s tourism industry is made possible by the government creating the correct legislative environment and providing the necessary infrastructure. The minister pointed to Egypt’s Tourism Reform Program, her ministry’s long-term policy framework that aims to take a preemptive — rather than reactive — position on developing the Egyptian tourism industry as a key part of the structural reforms enacted under the IMF-backed reform program.

Meanwhile, the inauguration of the Grand Egyptian Museum and the 170 km Red Sea Mountain Trail are expected to attract more tourists next year, Al Mashat said. This comes as part of Egypt’s efforts to give travelers options that go beyond “cultural heritage or sun and sea,” and promote different destinations around the country.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.