Egypt was most popular with Spanish and German tourists followed by the non-traditional markets like India, Japan, and China. Egypt also began to attract non-traditional markets, including people from Ukraine and Poland.
Yasser Sultan, partner director of Egyptian Valley company and member of the General Assembly of the Egyptian Travel Agents Association (ETTA), said that he expects Egypt’s tourism sector to achieve at least $15bn by end of the current FY.
Egypt’s tourism sector revenues went up by 28.2% during the last Fiscal Year to $12.570bn in revenue compared to $9.804bn last year. It was disclosed in a report by the Central Bank of Egypt.
The reason behind this hike is the improved political and security situation stability in Egypt.
Agreeing with Sultan, Hehsam El-Damery, the retiring president of the Tourism Promotion Authority said Egypt is witnessing a continuous increase in revenues since 2017.
The pound flotation positively affected the tourism sector, as it decreased overall costs as well as costs of packages for the hotels and travel in Egypt, compared to global market rates.