Tourism
From The Report: Egypt 2016
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While Egypt has faced several challenges in recent years, tourism remains one of its leading foreign currency exchange providers and the sector is a key contributor to both GDP and job creation. This breadth in the tourism offering has helped the country develop into one of the most prominent destinations in the region, which is no small feat when one considers the competition. The Egyptian tourism sector has performed well over the long term, and recent declines in terms of numbers employed and share of GDP are not characteristic of the sector’s performance. Tourism still contributes greatly to the economy and it has considerable potential. However, it may take time to win back some potential visitors, as many international tourists will want to see a period of stability before committing to a trip to Egypt. 

Articles from this Chapter

Overview

Testing times: While the current challenges are myriad, the sector has considerable strengths and long-term potential
OBG
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While Egypt has faced several challenges in recent years, tourism remains one of its leading foreign currency exchange providers and the sector is a key contributor to both GDP and job creation. The sector has historically played a central role in the economy, with its total contribution to GDP rising from 8.5% in 1988 to a high of 19.5% in 2007, according to the World Travel & Tourism Council (WTTC). The country’s attractions are diverse – ranging from unique archaeological sites, to sandy…

Analysis

Staycation: As domestic traveller numbers rise, local spending is driving the sector
OBG
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Although foreign visitor arrivals have held up relatively well in the face of recent challenges, declining only modestly, the domestic and regional travel segments are expected to fare better, helping to offset an overall decline in sector revenues forecast at 15% for 2015. Ayman Altaranissi, director-general of the Egyptian Tourism Federation, told OBG, “Arab tourism is picking up, and we are focusing on local tourism.” In addition to the benefits gained by increasing spending by local visitors…