Arrivals from the Middle East to Egypt are expected to increase 50 per cent from 1.49 million in 2018 to 2.23 million in 2022, with visitors from Saudi Arabia driving this growth, according to data published ahead of Arabian Travel Market 2019.
While arrivals from Europe are expected to be the largest contributor on a regional basis, increasing from 6.2 million in 2018 to 9.1 million tourists in 2022, the latest research from Colliers International revealed arrivals from the Middle East will actually witness the highest compound annual growth rate at 11 per cent.
Danielle Curtis, exhibition director, Middle East, Arabian Travel Market, said: “Over the last 12 months, Egypt’s tourism industry has witnessed healthy and steady growth, with arrivals up 14.5 per cent from 8.3 million in 2017 to 9.5 million in 2018.
“Growth has been fuelled by the cheaper Egyptian Pound and government incentives for charter airlines operating international flights.
“Adding to this, we are witnessing this growth first hand at ATM with the total number of attendees coming from Egypt increasing 16 per cent year-on-year.”
Egypt tourism capital investment is estimated to reach US$ 4.2billion in 2019, up 25 per cent on 2018, as the country strives to keep pace with an ongoing leisure travel boom and GDP growth.
“The overall revenue generated by the leisure segment in 2018 represented 87 per cent of total tourism spend and we expect this growth to continue as a series of new government and private sector attractions and investments are unveiled – including the development of new airports and new luxury hotel resorts in Red Sea destinations Sharm El Sheikh and Hurghada,” Curtis said.
Egypt has a diverse range of source markets – decreasing the risk of being over-reliant on one specific market.
Germany, Russia, the UK and Italy are Egypt’s top four source markets, with the first and last in top gear – both growing 29 per cent in 2018 – and showing the highest CAGR growth of 11 per cent.
The UK, which recorded just a four per cent increase in arrivals between 2017 and 2018, has traditionally been a long-standing major source market for the Red Sea resort of Sharm El Sheikh.
However, an ongoing ban on direct flights between the two destinations has stifled visitor numbers.
Curtis added: “It is hoped the recent resumption of Serbian flights to Sharm El Sheikh after a six-year absence and the introduction of Turkish Airlines’ daily flight from Moscow to the Red Sea via Istanbul, will kick-start direct flights between the UK and Egypt, and of course Russia and Egypt.”
Arabian Travel Market takes place at Dubai World Trade Centre from April 28th-May 1st.
Find out more on the official website.