Egypt's Travel & Tourism Sector contributes EGP 1.4 Trillion to GDP in 2024 : WTTC
Post Views: 52
According to WTTC's latest Economic Impact Research (EIR), developed in collaboration with Oxford Economics, the sector contributed EGP 1.4TN to Egypt's GDP in 2024, accounting for 8.5% of the national economy. Looking ahead, 2025 is projected to set a new all-time high with a forecast annual growth of 4.9% and increase in the sector's share to 8.6% of national GDP. This underlines the central role of Travel & Tourism in Egypt's continued economic development. 2024 also marked the strongest year on record for visitor spending. International visitor expenditure reached EGP 726.9BN, up 36.1% compared to 2019, while domestic visitor spending rose to EGP 449.9BN, 31.8% above pre-pandemic levels. This upward trend is set to continue. In 2025, international visitor spending is projected to increase to EGP 768.2BN, and domestic spending is expected to reach EGP 460.6BN, maintaining the country's strong recovery and sustained demand across both international and local travel. In addition to record-breaking economic contribution and visitor spending, in 2024, the sector supported 2.7 million jobs, exceeding the 2019 peak. This growth is set to continue, with 2025 employment forecast to rise to 2.9 million, marking a 22.3% increase compared to 2019. Julia Simpson, WTTC President & CEO, said: 'Egypt's Travel & Tourism sector is experiencing a powerful resurgence, with record-breaking economic contribution and a sustained surge in visitor spending. These numbers reflect a sector on the rise: dynamic, resilient, and vital to the country's growth. 'With its rich cultural heritage, world-class attractions, and growing connectivity, Egypt continues to captivate travellers from around the globe. The government's focus on investment, infrastructure, and sustainable tourism is clearly paying off.'
WTTC forecasts a decade of sustained expansion for Egypt's Travel & Tourism sector. By 2035, the sector is expected to contribute EGP 2.1TN to the national economy, accounting for 8.4% of GDP. Employment is projected to reach 3.8 million jobs, representing 10.5% of total employment, and highlighting the sector's critical role in job creation. Over the same period, international visitor spending is expected to rise to EGP 1.1TN, while domestic spending is forecast to reach EGP 627BN, reflecting Egypt's potential to become one of the region's most vibrant and sustainable tourism economies.
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The UAE ranks among the world's top seven destinations for international tourist spending, surpassing countries that have been in this industry for centuries.' He added, 'We welcome tourists, delight in attracting investors, embrace talent, and build the best environment for living, tourism, and visitation. Welcome to the world.' Abdulla bin Touq Al Marri, Minister of Economy and Tourism and Chairman of the Emirates Tourism Council, emphasised that the UAE has placed tourism at the heart of its strategy to drive economic diversification and sustainable growth. He credited the nation's success to proactive initiatives and strategic tourism plans that have positioned the UAE as a unique and attractive global destination. These efforts include strengthening infrastructure across the seven emirates, enhancing the appeal of tourism-related investments, and showcasing the country's rich cultural and experiential diversity. Significant improvements in airport and travel infrastructure have also contributed to the country's elevated standing in global travel and tourism. Al Marri also noted, 'Just days ago, the UAE achieved a historic milestone in the tourism sector with the election of Shaikha Nasser Al Nowais, Secretary-General of the United Nations World Tourism Organisation (UNWTO). Today's WTTC results reaffirm the wisdom of our leadership's vision in enhancing the competitiveness of our tourism sector, creating employment opportunities for Emiratis, and further cementing our position as a global tourism powerhouse.' 'These achievements underscore that the UAE tourism sector is confidently progressing toward the goals set out in the UAE Tourism Strategy 2031. The strategy aims to increase the sector's contribution to the national GDP to AED450 billion and raise the number of hotel guests to 40 million annually by the next decade.' He noted that national efforts are ongoing to develop a fully integrated tourism ecosystem, guided by international best practices. These efforts include strengthening engagement with key regional and international tourism markets, expanding the range of tourism offerings, and enhancing service quality to provide comprehensive and enriching experiences for visitors from around the world. 'These initiatives are in line with the UAE vision We the UAE 2031, and they aim to elevate the country's status as one of the world's leading tourism destinations in the coming decade,' he concluded. Regarding international tourism, the WTTC report highlighted that the UAE continues to assert its position as one of the world's leading travel destinations. In 2024, the country welcomed international visitors from a diverse range of key markets, including India: 14%, United Kingdom: 8%, Russia: 8%, China: 5%, Saudi Arabia: 5%, and rest of the world: 60%. 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Post Views: 52 According to WTTC's latest Economic Impact Research (EIR), developed in collaboration with Oxford Economics, the sector contributed EGP 1.4TN to Egypt's GDP in 2024, accounting for 8.5% of the national economy. Looking ahead, 2025 is projected to set a new all-time high with a forecast annual growth of 4.9% and increase in the sector's share to 8.6% of national GDP. This underlines the central role of Travel & Tourism in Egypt's continued economic development. 2024 also marked the strongest year on record for visitor spending. International visitor expenditure reached EGP 726.9BN, up 36.1% compared to 2019, while domestic visitor spending rose to EGP 449.9BN, 31.8% above pre-pandemic levels. This upward trend is set to continue. In 2025, international visitor spending is projected to increase to EGP 768.2BN, and domestic spending is expected to reach EGP 460.6BN, maintaining the country's strong recovery and sustained demand across both international and local travel. In addition to record-breaking economic contribution and visitor spending, in 2024, the sector supported 2.7 million jobs, exceeding the 2019 peak. This growth is set to continue, with 2025 employment forecast to rise to 2.9 million, marking a 22.3% increase compared to 2019. Julia Simpson, WTTC President & CEO, said: 'Egypt's Travel & Tourism sector is experiencing a powerful resurgence, with record-breaking economic contribution and a sustained surge in visitor spending. These numbers reflect a sector on the rise: dynamic, resilient, and vital to the country's growth. 'With its rich cultural heritage, world-class attractions, and growing connectivity, Egypt continues to captivate travellers from around the globe. The government's focus on investment, infrastructure, and sustainable tourism is clearly paying off.' WTTC forecasts a decade of sustained expansion for Egypt's Travel & Tourism sector. By 2035, the sector is expected to contribute EGP 2.1TN to the national economy, accounting for 8.4% of GDP. Employment is projected to reach 3.8 million jobs, representing 10.5% of total employment, and highlighting the sector's critical role in job creation. Over the same period, international visitor spending is expected to rise to EGP 1.1TN, while domestic spending is forecast to reach EGP 627BN, reflecting Egypt's potential to become one of the region's most vibrant and sustainable tourism economies.
