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Egypt’s historical and cultural glory, year-round good weather and miles of splendid beaches form the bedrock of an exceptional tourism industry.
Growth in tourism is the highest of all economic sectors in Egypt. However, the tourism sector contribution in GDP is underestimated since there are various tourist expenditures that are channeled through other sectors and not only hotels and restaurants.
Sector Growth Rates(2002/03-2004/04)
Source: Ministry of foreign trade and Industry; quarterly economic digest, march 2005
The rapid growth in Egyptian tourism (18.4 per cent in 2003/04), leads tourism growth in the Middle East, with a market share of 19.1 per cent in total Middle East International Tourist Arrivals (ITA).
Tourism receipts reached USD 5.5 billion (2003/04), representing 42.2 per cent of total services receipts. Total International tourist arrivals via main points of entry reached 6.04 million in 2003. Total International tourist departures via main points of entry reached 5.31 million in 2003.
Total hotel capacity in 2003 (including existing hotels and hotels under construction) reached 1669 units, 239 thousand rooms, and 478 thousand beds. Average number of nights spent by tourists reached 10 nights in 2003, up from around 8.5 nights in 2002.
The tourism sector is the second largest sector in generating foreign earnings.
Principal sources of foriegn earnings(USD billion)
Source: central bank of egypt; monthly statistical bulletin, various issues.
The designated investments in the Egyptian tourism sector have increased in 2003/04 by 18.4 per cent, with the value of EGP 2.5 billion.
International Tourist Arrivals in Egypt have grown rapidly since 2001 and reached 8.1 million in 2004 with a growth rate of 34.1 per cent. This series of recovery in growth followed the downfall in the 2000 international tourism that was attributable to political instability in the region
The majority of the Egyptian tourism market is dominated by European visitors. Of the Europeans, Italian tourists hold the largest share of 13.2 per cent in total visitors. followed by the German tourists with a share of 11.5 per cent in 2003.
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