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
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...
• The U.S. imposed a 20% tariff on cashew exports from Vietnam and a 40% tax on suspected transshipm...
Cauri Money launches Gajo Money, an e-wallet for the Cameroonian diaspora, targeting €120 mil...
• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...
MTN has announced the launch of the MTN Cloud Accelerator, a 12-week hybrid program designed to help African startups scale faster by leveraging MTN’s...
• CMOC increased cobalt production by 13% to 61,073 tonnes in the first half of 2025.• The DRC extended its cobalt export ban, forcing CMOC to stockpile...
Kenya plans to import 1.05 million tonnes of palm oil in 2025/2026, near its highest ever level. Malaysia supplies 90% of Kenya’s palm oil, sharply...
Power Africa closed after 12 years, leaving a gap in Africa’s electrification push. Mission 300 aims to connect 300 million Africans to electricity...
The Emerald Sea is a vast turquoise lagoon located in the northern part of Madagascar, just a few kilometers from the town of Antsiranana (formerly Diego...
Malawi’s Mount Mulanje and Cameroon’s Diy-Gid-Biy added to UNESCO World Heritage List Africa still holds 25% of endangered sites, despite recent...