Egypt Targets 7.4 Bn in Tourism Investments for FY 2022/2023

by nevine

On December 11, the minister of Planning and Economic development, Hala Elsaid issued a report stating that the Egyptian government is setting higher targets for this fiscal year’s investments in Egypt’s tourism sector. The new target record “7.4 Bn” is expected to fortify the tourism sector, which is deemed as the country’s most important and profitable source of income.

In the ministry’s announcement, she concluded that the number of tourists increased from 3.7 million in 2020 to 8 million in 2021, with the number of accommodations increasing from 43 million nights to 93.8 million respectively. As a result, approximately USD 9 million (EGP 222 million) was generated in touristic revenue for 2021.

Ahead of the Qatar World Cup, Egypt announced that it would grant holders of the FIFA Hayya Card permission to enter Egypt sans visa. Similarly, the hospitality sector has been encouraged, for the tournament’s duration, to adjust pricing to accommodate potential tourists.

Egypt has been working to stimulate tourism post-COVID-19 and the Russia-Ukraine war, both of whom “have been the main exporters of tourists to Egypt in recent years.” This has included communicating with the Russian government to recommence flights, and creating intensive charter programmes for main sending and arriving countries such as the United Kingdom, France, Germany, Italy, Spain, and several Eastern European countries whose numbers have not seen decline.


You may also like

Leave a Comment

Subscribe Now To Get Our Latest News

Top 50 Women Forum is the first platform in Egypt to work exclusively on empowering women professionals, with the purpose of strengthening their contribution development & decision-making processes.

Subscribe Now To Get Our Latest News