Egypt’s tourism revenues rose 8% to $13.2bn in 2023

AFRICAN BUSINESS AND ECONOMYFebruary 4, 2024 at 2:40 PM UTC

TLDR

Egypt's tourism revenues increased by 8% to $13.2 billion in 2023, setting an ambitious target to reach $30 billion in the next three years.
Tourists spent an average of $93 per day and stayed for 9.5 nights on average in Egypt.
In 2023, Egypt welcomed a record-breaking 14.906 million tourists, surpassing the previous record of 14.731 million in 2010, reflecting the country's efforts to attract visitors and establish itself as a major global tourist destination.

In 2023, Egypt's tourism revenues experienced an 8% year-on-year increase, reaching $13.2 billion, as reported by a government official. The spending by tourists in Egypt was estimated at around $93 per day, with an average stay duration of 9.5 nights throughout the year.

Notably, Egypt has set an ambitious target to elevate its tourism revenues from the current average of approximately $12 billion annually to a projected $30 billion within the next three years.

The country achieved a historic milestone in 2023 by welcoming a record-breaking number of tourists, totaling 14.906 million individuals. This surpassed the previous record set in 2010, which saw 14.731 million tourists visit Egypt. The positive trend in tourism figures reflects the nation's efforts to attract visitors and enhance its position as a key global tourist destination.

Key Takeaways

Egypt, as a travel destination, caters to diverse budgets, boasting attractions and a climate that appeal to a wide range of visitors. The primary draw for many is the exploration of ancient historical sites, including the iconic pyramids, dating back to the Pharaonic era. Situated to the south of the Mediterranean Sea, Egypt enjoys a warm climate throughout the year. The travel and tourism industry plays a pivotal role in the country's economy, emerging as one of the leading sectors. In 2022, it contributed around $32 billion to Egypt's GDP. Notably, international tourist spending exceeded domestic spending for the first time since 2020, a shift attributed to the impact of COVID-19 pandemic-related travel restrictions. Beyond its economic significance, the travel and tourism sector serves as a major employer in Egypt, providing jobs for nearly 2.4 million people in 2022. The industry's multifaceted contributions underscore its vital role in both the economic and employment landscapes of the country.

Egypt

Tourism

Travel

GDP

Cairo