Egypt's Travel and Tourism Sector generated a historic E£953 Billion for the country's economy in the preceding year

Egypt's travel and tourism sector is gearing up for another year of growth, with promising projections and significant contributions to the nation's economy.

Last year, the sector achieved a full recovery, with domestic visitor spending growing almost 9% year-on-year to surpass E£328.5BN. International visitor spending saw a strong 38.5% year-on-year growth, reaching E£470.4BN. These figures, according to the World Travel & Tourism Council's 2024 Economic Impact Research, contributed a record E£953BN to Egypt's GDP, marking a growth of nearly 24% compared to the previous year.

The sector is projected to experience continued growth this year. Domestic visitor spending in Egypt is expected to reach over E£340BN, while international visitor spending is anticipated to grow 6.2% to reach just under E£500BN. These figures, if realised, would bring the sector's contribution to Egypt's GDP to almost E£988BN, accounting for 8.1% of Egypt's economy.

The Egyptian government has announced plans for an investment program for the travel and tourism sector in 2023. This program is expected to support the sector's growth, potentially employing almost 4MN people across the country by 2034. The sector-supported jobs in Egypt are projected to grow 5.7% to reach 2.67MN this year, accounting for almost one in 11 jobs in Egypt.

Across North Africa, the Travel & Tourism sector is forecast to contribute E£2.2TN to the regional economy this year, accounting for 8.5% of the total. Sector-supported jobs across North Africa are expected to rise to 5.3MN, representing one in 11 jobs across the region.

These figures underscore the importance of the travel and tourism sector to Egypt's economy and its potential for continued growth in the coming years. With the right government support, the sector could grow its annual GDP contribution to E£1.57TN by 2034, representing 9.6% of Egypt's economy.

Egypt's Travel and Tourism Sector generated a historic E£953 Billion for the country's economy in the preceding year