Tourism
From The Report: Egypt 2022
View in Online Reader

In 2020, when international arrivals and tourism operations were affected by the Covid-19 pandemic, there was a worry that the tourism industry would lose its post-2017 momentum. However, efforts have been made to maintain the upward trend. Indeed, public investment in the tourism sector and concerted marketing campaigns aimed at fuelling engagement laid the groundwork for a rebound. In May 2021 the Central bank of Egypt amended an initiative to make it easier for hoteliers to afford renovations, financing a maximum of 90% of the costs of replacement and renewal, up from the previous 75% coverage. Moreover, the government has sought to bolster the domestic tourism market, encouraging Egyptians to take their holidays in cultural destinations. Looking to the future, the Grand Egyptian Museum, home to around 100,000 artefacts, is opening its doors in 2022.

Articles from this Chapter

Overview

Destination of choice: Investment in infrastructure, as well as efforts to diversify source markets and offerings, position the sector for growth
OBG
plus

In the years leading up to the Covid-19 pandemic, the tourism sector was a key contributor to economic growth and foreign exchange. Egypt was expecting significant growth in tourism going into 2020 with the opening of new flight routes and museums, as well as investment in antiquities. The pandemic’s impact on the tourism sector in markets around the world was significant, as travel restrictions were implemented and borders closed to contain the spread of the virus. Nonetheless, public investment…

Analysis

Greener destinations: The global tourism industry is looking to adopt sustainable practices in its post-Covid-19 pandemic recovery strategy
OBG
plus

The global tourism industry faces numerous challenges when it comes to decarbonisation, as highlighted by a November 2021 report from the World Travel & Tourism Council (WTTC), in collaboration with the UN Environment Programme and multinational consulting firm Accenture. In the years prior to the pandemic the sector thrived, recording its 10th consecutive year of growth in 2019. Moreover, with 1.5bn international tourist arrivals worldwide, it contributed more than 10% to global GDP and accounted…