In its Economic Impact Research (EIR) report for 2024, the WTTC explained that, across sector jobs, international and domestic visitor spending, the sector fully recovered last year to reach record-breaking levels
Egypt’s tourism sector contributed around 24% of the country’s GDP in 2023, recording around EGP 953 billion – almost 21% above its previous highest level, revealed the latest report by the World Travel and Tourism Council (WTTC).
In its Economic Impact Research (EIR) report for 2024, the WTTC explained that, across sector jobs, international and domestic visitor spending, the sector fully recovered last year to reach record-breaking levels.
Domestic visitor spending saw a 9% year-on-year increase, surpassing EGP 328.5 billion, while spending by international visitors surged by 38.5% to reach EGP 470.4 billion.
Jobs supported by the sector also grew, expanding by nearly 10% 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.
Looking ahead to 2024, the WTTC forecasted continued growth, with the sector's GDP contribution projected to reach nearly EGP 988 billion, constituting 8.1% of Egypt's economy.
International tourist spending is expected to increase by 6.2%, nearing EGP 500 billion, while domestic spending could surpass EGP 340 billion. Job growth is also anticipated, with positions likely to rise by 5.7% to 2.67 million.
Regionally, North Africa's Travel & Tourism sector is set to contribute EGP 2.2 trillion to the economy in 2024, comprising 8.5% 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 EGP 1.57 trillion, accounting for 9.6% of Egypt’s economy and potentially employing nearly 4 million people.
