Egypt's Tourism Revenues Reach $5.2 Billion in 9 Months, Overcoming the Crisis

Average daily tourist spending rises to $88

By Akram Medhat

Egypt's tourism sector revenues reached about $5.2 billion over the first nine months of 2017, up 205% from the same period in 2016, which recorded $1.7 billion, returning to the same rates as 2015, before the Russian tourism crisis.

This notable improvement in tourism revenues came as a result of the increased rate of tourist arrivals to Egypt, which reached 5.9 million tourists from January to the end of September 2017, up 53%, who spent 60 million tourist nights, an increase of 164%, amid the gradual recovery and revival of traffic from the various main tourism markets.

According to tourism statistics obtained exclusively by Travel Yalla News, the third quarter of this year had the largest share of tourism revenues, recording $2.5 billion, while the first half as a whole achieved $2.7 billion.

August is the highest-earning month so far this year, approaching $1 billion ($958 million), and saw the highest tourist turnout with the arrival of 820,000 tourists.

September Revenues Regain Their Health

September achieved tourism revenues of $847 million, up 233% from the same month in 2016, and succeeded in exceeding September 2015, before the Russian plane crisis, which recorded $505 million.

September 2010 remains the best month for tourism sector revenues so far, achieving $1.2 billion, while September 2013 recorded the lowest revenues in the history of Egyptian tourism, at only $67 million.

Average daily tourist spending improved notably to $88 last September, the highest rate since the beginning of this year, while average spending over the first nine 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, so the improvement in its revenues 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 revenues from January to September 2017:

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