Back to the complete issue
Monday, 1 June 2020

Egypt’s tourism industry could suffer losses of 75-100% in 2020

Under a best-case scenario with the ongoing pandemic, Egypt’s tourism industry is expected to lose out on c.73% of its revenue in 2020, according to a report (pdf) from the National Planning Institute. The best-case scenario would entail a recovery beginning in 3Q2020 with flights resuming by mid-June or early July. The persistence of the pandemic would still put a damper on leisure travel, however, and would result in the country’s tourism industry closing out the year with USD 3.45 bn in revenues. Under a less optimistic scenario, normal life and travel would fully resume by 4Q2020, which would give Egypt 25% of its regular tourist arrival and income. This scenario assumes a total of 750k tourist arrivals and USD 3.1 bn in revenues throughout the year. The final (and worst-case) scenario, which assumes the virus continues to spread aggressively until December and travel restrictions remain in place until the end of the year, would result in a 100% y-o-y drop in Egypt’s tourist arrival figures from April until December.

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 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; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.