Market Insights; Egypt: Destination Market Insight
Market Insights; Destination Market Insight report provides an overview of the Egypt inbound market, analyzing market data and providing insights. This report provides a better understanding of the number of tourists arriving to Egypt, where they are staying, their spending habits and future developments in the Egyptian tourist industry.
Following the Egyptian revolution in 2011, years of political turmoil have damaged Egypt’s tourism industry. Just 9.6 million visitors arrived in Egypt in 2014, down from 14 million in 2010. The recovery was hampered by further unrest in 2013, with visitor numbers dropping to 9.1 million. However, with the return to military rule under General al-Sisi in 2014, law and order has helped provide some stability, with officials expecting over 20 million to visit by 2020.
The Egyptian Government is trying to improve tourism in the country as it as a major source of revenue (tourism is behind the Sinai oil fields and Suez Canal revenue earnings). Large scale investment projects in the Red Sea resorts and the redevelopment of Cairo’s history museums are aimed at revitalizing tourism. Nevertheless, cautious forecasts indicate that inbound expenditure, which was US$8.7 billion in 2014, will rise to just US$9.4 billion by 2019. Given Egypt’s precarious stability, it will take some time before the country recovers to pre-2011 levels when tourism expenditure reached 13.6 billion in 2010
Russia is the top source market for Egypt, followed by Germany and the UK. While Europeans have been wary of visiting Egypt in recent years, Russian tourists seeking a cheap beach holiday destination have continued to travel to the country, especially the Red Sea resorts. Egypt hopes to draw 4.5 million Russians to the country by 2020.
The report provides detailed market analysis, information, and insights, including:
Historic and forecast tourist volumes covering Egypt’s inbound tourism sector
Detailed analysis of tourist spending patterns for various categories in the travel and tourism sector, such as purpose of spending and top source markets.
Detailed analysis of the market trends in Egyptian domestic and inbound tourism sectors.
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