Egypt's tourism revenue reaches over $10 billion in 9 months

Egypt's tourism revenue has recorded significant growth, according to a new report released by the Egyptian Council of Ministers' Information and Decision Support Center.

Specifically, tourism revenue in the first 9 months of the 2022-2023 fiscal year reached 10.3 billion USD, an increase of 25.7% compared to the same period of the previous fiscal year.

The recovery of the sector is largely due to high global demand for travel and tourism services, after the world experienced a series of crises in recent years, starting with the Covid-19 pandemic, the Russia-Ukraine war, supply chain shortages and inflation.

Foreign tourists visit the Pyramids of Egypt

In the first nine months of 2019, the number of tourists visiting Egypt increased by 32%, equivalent to 10 million visitors, while the number of tourist nights during the same period also increased by 26.8%, reaching 110.5 million nights.

The report also said that the increase in global demand for tourism services in Egypt is due to the country's diversity in tourism types, with its structure, history and modernity, supporting Egypt's presence on the international tourism map.

Egypt has 2,160 archaeological sites, of which 134 are open to visitors; 43 antiquities museums, of which 31 are open; 479 diving and marine tourism centers; 1,199 hotel establishments; 1,325 tourist restaurants and cafes; 2,259 travel agencies.

The Egyptian government has set out development plans for the tourism industry, encouraging the private sector to participate in finding mechanisms to develop the sector, striving to achieve the target of attracting 30 million tourists in the next five years, while increasing the number of hotel rooms to about 50,000 during the same period, the Information and Decision Support Center added.

It is known that the tourism industry contributes up to 15% of economic output in Egypt and it is considered one of the most important sources of foreign exchange, besides Suez Canal revenue, exports and remittances from Egyptians abroad.

According to VOV