Egypt’s resurgent tourism sector was boosted by a 23.6% increase in tourism revenues last year.
This was coupled with new tourism projects worth US$ 5.3 billion. Riding on this confidence, the tourism authority will participate in with renewed confidence at this year’s Arabian Travel Market (ATM) 2015.
Egyptian exhibitors include Egypt Express Travel, Al-Tayyar Travel Group, Dana Tours and Standard Tours Online, supported by international hotel chains.
According to Egypt’s tourism minister, Hisham Zaazou, the country registered a 4.5% increase in inbound tourist numbers in 2014, with 10 m arrivals compared to 9.55 m in 2013. Tourism revenues also rose year-on-year by 23.6%, an increase of US$7.5 bn, up from US$5.9 bn in 2013.
Tourism spend is also on the increase, with Zaazou confirming that average amount spent per tourist per night rose from US$72 to US$80.1 during H2 2014. This is led by the US$1,653 million Emaar Misr Marassi Beach Resort project.
Emaar Misr is also developing the US$820 m Cairo Gate Mall while the UAE’s Al Futtaim Group is responsible for the US$500 m Al Maza City Centre project and MAF’s US$400 m Mall of Egypt.
Investment into Egypt’s cultural heritage is being spearheaded by the Ministry of Antiquities, which is moving forward with its US$810 m phase three-development plans for the Grand Egyptian Museum.