• | 11:00 am

Egypt’s tourism revenue hits over $6 billion in first half of 2024

The total number of tourists arriving in Egypt during H1 2024 reached 7.07 million

Egypt’s tourism revenue hits over $6 billion in first half of 2024
[Source photo: Krishna Prasad/Fast Company Middle East]

After years of uncertainty, one of the greatest destinations in the world is back in business. In January, Egypt’s Minister of Tourism revealed that a record-breaking 14.9 million tourists visited Egypt in 2023 and attributed this success to coordinated efforts between the ministry and private sector.

This marked a 33% increase in the country’s global tourism share compared to 2019, mainly driven by an increase in Egypt’s inbound airline seats and hotel rooms, contributing to accommodating travelers and improving the visitor experience.

These figures align with Egypt’s National Strategy for Sustainable Tourism 2030, which aims to boost visitor traffic to 30 million by 2028. 

A report by the Ministry of Tourism revealed that Egypt’s tourism revenues increased by 4.7% year over year in H1 2024, totaling $6.6 billion. According to the report, it’s a 17.8% rise compared to the corresponding period in the peak year of 2010. 

In addition, the total number of tourists arriving in Egypt during H1 2024 reached 7.07 million, similar to H1 2023, which saw 7.06 million tourists.  

The rise in tourist arrivals also contributed to an increase in the number of nights tourists spent in Egypt, totaling 70.2 million during the first half of 2024, up from 67.6 million in 2023 and 65.7 million in 2010.

The tourism sector in Egypt, contributing approximately 12% to the country’s GDP, faced significant challenges due to Covid-19 and the start of the Russia-Ukraine war. These factors led to a decline in tourist numbers. Last year, Egypt announced plans to double foreign visitor numbers to 30 million by 2028 while fostering greater private investment in tourism.

Now accepting applications for Fast Company Middle East’s Most Innovative Companies. Click here to apply.

More Top Stories:

FROM OUR PARTNERS