Average daily spending per tourist holds steady at $88
Total tourism revenue in 10 months reached $5.9 billion, up 200%
By Akram Medhat
Egypt's tourism revenue reached $717 million in October, up 182% from the same month of 2016, which recorded $254 million, surpassing the figure for October 2015, considered the last month of recovery before the Russian plane crash, when tourism revenue was $519 million.
Egypt received 826,000 tourists in October, the highest monthly arrival rate so far this year, up 63% from the same month of 2016, who spent 8.1 million tourist nights, an increase of 146%, which is driving the tourism revenue index upward.
Total Revenue for the Ten Months
According to tourism statistics obtained exclusively by Travel Yalla News, total revenue of Egypt's tourism sector in the first ten months of 2017 reached about $5.9 billion, up 195% from the same period of 2016, which recorded $2 billion, exceeding the levels of 2015, before the Russian tourism crisis, when revenue reached about $5.7 billion.
This notable improvement in tourism revenue came as a result of the increase in tourist arrivals to Egypt, which reached 6.7 million tourists between January and the end of October 2017, up 55%, who spent 68 million tourist nights, an increase of 162%, amid the gradual recovery and revival of traffic from the various main and new tourism markets.
August has posted the highest revenue so far this year, approaching $1 billion ($958 million).
October 2010 remains the best for tourism sector revenue to date, at $1.1 billion, while October 2013 recorded the lowest revenue, at only $261 million.
Average daily spending per tourist held steady at $88 in October, the highest rate since the beginning of this year, while average spending over the first ten months of 2017 was about $87.
Tourism contributes about 20% of Egypt's foreign currency income and is one of the most important sources of foreign exchange; therefore, the improvement in its revenue has an effective impact on stabilizing the exchange rates of currencies against the Egyptian pound, led by the dollar.
A table showing the monthly development of tourism sector revenue from January to October 2017:
Month | Revenue (USD million) |
|---|---|
January | 357 |
February | 372 |
March | 447 |
April | 547 |
May | 527 |
June | 428 |
July | 683 |
August | 958 |
September | 847 |
October | 717 |
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Egypt Received 826,000 Tourists in October, Up 63%, Making It the Best Month of 2017
