Egyptian Center for Economic Studies expects tourism will recover in H1 2021

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November 20, 2020
4:08 pm


A report by the Egyptian Center for Economic Studies optimistically predicted a recovery in Egypt’s tourism sector in the first half of 2021.

The report, of which Al-Borsa newspaper obtained a copy, stated that from now until the end of 2020, a mere 2.2 million tourists will visit Egypt, generating an expected revenue of just US$360 million. 

The center based this estimated plunge on the assumption that the current global coronavirus pandemic situation will continue as it is, deterring people from traveling.

Expectations indicate that Egypt will see about 200,000 tourists arrivals in November, generating US$60 million.

November estimates are higher than October and December, as it generally witnesses a higher number of tourists.

Approximately 150,000 tourists are expected to visit in December, generating about US$45 million.

On a positive note, the report forecasted recovery in the first half of 2021, based on the latest international reports.

The center predicted about 3 million tourists to visit Egypt in that time, boosting its numbers by 48 percent and bringing in around US$900 million.

500,000 tourist arrivals are expected each month during this period.

Improved tourism rates depend on an effective vaccine to treat coronavirus, as well as the removal of international travel restrictions, as 90 to 95 percent of the country’s tourists fly in from abroad.

According to data from the Central Bank of Egypt, tourism revenue in the 2018/2019 fiscal year reached US$12.57 billion.

Egypt has experienced a slump in tourism since the onset of the coronavirus pandemic. The country’s Ministry of Tourism and Antiquities, in cooperation with the Ministry of Aviation, has launched several campaigns to revive the industry.

However, a severe second wave of the virus sweeping the US and Europe have prompted further lockdowns, curfews, and travel restrictions, again slowing the influx of tourists.

Edited translation from Al-Masry Al-Youm


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Source: egyptindependent