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Tourism Sector

Being on the UK’s “red list” means daily losses of EGP 31M for Egypt: WTTC

UK tourists represented around 5% of all international inbound arrivals in 2019, making it the 3rd biggest source market for Egypt

Tourism industry revenues recorded $3.5-4 billion in H1 2021

The deputy minister was positive for the future however, with Shalaby quoted as saying that they expect an increase in tourists of 45% to 60% during the next period

Egypt part of KSA’s top MENA destinations since reopening borders for travel

In an earlier study, Almosafer stated that 80 percent of Saudi respondents were planning to travel internationally within the first 6 months after the travel ban would be lifted

Hotel occupancy rates still declining in Q12021: Colliers

Average daily occupancy rates (ADR) in Red Sea tourism hotspots, Sharm El Sheikh and Hurghada, dropped 76 percent and 59 percent respectively

CBE raises hotel renovation support initiative’s to up to 90% of total cost

The CBE will finance a maximum of 90 percent, instead of the predetermined 75 percent of the total replacement and renewal costs