The World Travel and Tourism Council (WTTC) forecasts significant growth for Egypt’s tourism sector, projecting its contribution to the national GDP to reach nearly LE 988 billion in 2024.
This would constitute approximately 8.1 percent of Egypt’s total economy, underscoring the sector’s pivotal role in the country’s economic landscape.
According to sis.gov.eg, International tourist spending is expected to increase by 6.2 percent, nearing LE 500 billion, while domestic spending could surpass LE 340 billion, the council explained in its Economic Impact Research (EIR) report for 2024.
Job growth is also anticipated, with positions likely to rise by 5.7 percent to 2.67 million.
In 2023, Egypt’s tourism sector contributed around 24 percent of the country’s GDP in 2023, recording around LE 953 billion – almost 21 percent above its previous highest level.
Across sector jobs, international and domestic visitor spending, the sector fully recovered last year to reach record-breaking levels, the report noted.
Domestic visitor spending saw a 9 percent year-on-year increase, surpassing LE 328.5 billion, while spending by international visitors surged by 38.5 percent to reach LE 470.4 billion.
Jobs supported by the sector also grew, expanding by nearly 10 percent to over 2.5 million – the equivalent of one in twelve jobs across Egypt.
Julia Simpson, President & CEO of WTTC, praised Egypt’s tourism sector’s resilience, emphasizing its pivotal role in the country’s economy.
“Egypt’s Travel & Tourism sector has made an extraordinary recovery, surging past previous records,” noted Simpson, highlighting the sector’s resilience and its critical contribution to the local economy.
Regionally, North Africa’s Travel & Tourism sector is set to contribute LE 2.2 trillion to the economy in 2024, comprising 8.5 percent of the total.
This growth is expected to support approximately 5.3 million jobs across the region, underlining the sector’s significance in regional employment.
With continued governmental support, the WTTC predicts a substantial growth spurt for Egypt’s tourism sector by 2034, projecting an increase of its GDP contribution to LE 1.57 trillion, accounting for 9.6 percent of Egypt’s economy and potentially employing nearly 4 million people.
