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Ministers Assess Fitch Tourism Outlook
A report from the Center for Information and Decision Support at the Council of Ministers, in collaboration with BMI Research, a subsidiary of Fitch Solutions, reviews the prospects of Egypt’s tourism sector until 2030. The report foresees an increase in the number of tourists to approximately 23.78 million by 2030, with an average annual growth rate of 4.6%. Additionally, tourism revenues are expected to rise to $21.15 billion by that year. This growth is attributed to expanding hotel capacity, developing infrastructure, and the opening of the Grand Egyptian Museum, which is projected to welcome around 5 million visitors annually and strengthen cultural tourism. The report also emphasizes the importance of diversifying tourist markets, particularly the Chinese market, developing digital services, and enhancing the quality of the tourism experience, all aimed at increasing tourist spending and maximizing economic returns from the sector. It also notes challenges that could impact growth, such as geopolitical tensions and rising airline costs, highlighting the need to invest in workforce development and infrastructure to achieve these objectives.
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