Public Management

Egypt cashed out record $12.5 bln tourism revenues in 2018/19

Thursday, 21 November 2019 17:08
Egypt cashed out record $12.5 bln tourism revenues in 2018/19

(Ecofin Agency) - Egypt's tourism revenues increased to $12.5 billion in FY2018-2019, tourism minister Rania Al-Mashat (pictured) said this week in an interview with Bloomberg. According to the manager, these are the highest tourist revenues in the history of Egypt.

The good performance comes after the serious crisis that hit the sector from the 1970s onwards, due to the increase in attacks targeting areas popular with tourists. Last October, Britain announced the lifting of restrictions on flights to the highly touristic Sharm el-Sheikh region, which in 2015 suffered a bomb attack that killed 224 passengers on a Russian plane. The improvement of security in the region and the gradual return of tourists had motivated the London decision, thus reinforcing the reforms undertaken by Marshal Sissi's government to revive an activity that represents about 15% of the country's GDP.

“By December 2019, we will have reached the 2010 peak in terms of tourist numbers,” said Rania Al-Mashat, welcoming, in particular, the forthcoming opening of a major Egyptian museum near the pyramids of Giza, to boost the sector.

In 2010, 14.7 million tourists visited Egypt with estimated revenues of more than $11 billion.

Moutiou Adjibi Nourou

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