In keeping with the World Journey & Tourism Council, Egypt’s journey and tourism sector has made unprecedented financial contributions, with vital progress in customer spending and employment.
The World Journey & Tourism Council (WTTC) has reported that Egypt’s Journey & Tourism sector achieved its highest-ever contribution to the nationwide financial system in 2024. In keeping with the WTTC’s Financial Impression Analysis, carried out with Oxford Economics, the sector contributed EGP 1.4 trillion to Egypt’s GDP, accounting for 8.5% of the nationwide financial system. This marks a big milestone for the sector, reflecting its pivotal position in Egypt’s financial framework.
Projections for 2025 and Past
The WTTC forecasts that 2025 will set a brand new report for the sector, with an anticipated annual progress charge of 4.9%. The sector’s share of the nationwide GDP is anticipated to extend to eight.6%, underscoring its significance in Egypt’s ongoing financial growth. This progress trajectory is anticipated to proceed over the following decade, with the sector projected to contribute EGP 2.1 trillion to the nationwide financial system by 2035, accounting for 8.4% of GDP.
Customer Spending Surpasses Pre-Pandemic Ranges
In 2024, customer spending in Egypt reached unprecedented ranges. Worldwide customer expenditure rose to EGP 726.9 billion, a 36.1% improve in comparison with 2019. Home customer spending rose considerably, reaching EGP 449.9 billion, 31.8% above pre-pandemic ranges. These figures spotlight the strong restoration and sustained demand for journey in Egypt.
The upward pattern in customer spending is anticipated to proceed in 2025. Worldwide customer spending is projected to extend to EGP 768.2 billion, whereas home spending is anticipated to achieve EGP 460.6 billion. This continued progress signifies a robust restoration trajectory for Egypt’s tourism sector.
Employment Progress Exceeds 2019 Ranges
The tourism sector’s progress has additionally positively impacted employment. In 2024, the sector supported 2.7 million jobs, surpassing the employment ranges of 2019. This pattern is anticipated to persist, with employment forecasted to rise to 2.9 million jobs in 2025, marking a 22.3% improve in comparison with 2019. This progress in employment underscores the sector’s vital position in job creation and financial stability.
Lengthy-Time period Progress Prospects
The WTTC anticipates a decade of sustained progress for Egypt’s Journey & Tourism sector. By 2035, employment within the sector will attain 3.8 million jobs, representing 10.5% of whole employment. Worldwide customer spending is projected to rise to EGP 1.1 trillion, whereas home spending is forecast to achieve EGP 627 billion. These projections spotlight Egypt’s potential to change into one of many area’s most vibrant and sustainable tourism economies, additional solidifying its position within the nationwide and regional financial panorama.
Julia Simpson, President & CEO of the WTTC, commented on the sector’s resurgence, noting the record-breaking financial contributions and elevated customer spending. She emphasised the sector’s dynamism, resilience, and very important position in Egypt’s progress. Simpson highlighted Egypt’s wealthy cultural heritage, world-class sights, and improved connectivity as key elements in attracting world vacationers. She additionally famous that the federal government’s give attention to funding, infrastructure, and sustainable tourism contributed to the sector’s success.