Tourism revenues in Egypt exceeded 13 billion dollars in 2021

Tourism revenues in Egypt exceeded 13 billion dollars in 2021
Tourism revenues in Egypt exceeded 13 billion dollars in 2021

Egypt’s Deputy Minister of Tourism and Antiquities, Ghada Shalaby, told Reuters today, Monday, that revenues tourism In the country during 2021, it exceeded $13 billion to return to pre-pandemic levels.

Tourism revenue was about $4 billion in 2020, down 70% from $13.03 billion the previous year, amid the COVID-19 pandemic that has hit the sector hard.

The Deputy Minister expected that the current year will exceed 2021 revenues in light of a strong strategy that includes giant projects implemented by the state and targeting the growth of the tourism sector.

“During the current year, we have the opening of the Grand Egyptian Museum, the Great Transfiguration Project in Sinai, the Galala Resort on the Red Sea shore, and the growth of hotels in the city of El Alamein, resulting in new tourism products that raise Egypt’s tourism competitiveness,” she said.

The deputy minister had mentioned in previous statements that Egypt’s tourism revenues during the first half of last year ranged between 3.5 and 4 billion dollars.

Tourism contributes up to 15% of Egypt’s economic output and is a major source of foreign exchange.

According to data from the Central Bank of Egypt, the Egyptian tourism sector, which was contributing about 12% of GDP before the pandemic, witnessed further recovery during 2021 with the return of international travel, with revenues rising by about 20% in the first half of 2021 compared to the previous year.

International tourism revenues are expected to reach a value of between 700 and 800 billion dollars in 2021, and the economic contribution of tourism is estimated at 1.9 trillion dollars in 2021, which is significantly less compared to the pre-pandemic level of 3.5 trillion dollars.

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