The Gulf Cooperation Council (GCC) tourists to Egypt are projected to spend $2.36 billion in 2020, an increase of 11% over 2019, according to a research by the Arabian Travel Market.
“Total tourism receipts in Egypt which stood at $16.4 billion in 2019, will achieve an average 13% compound annual growth rate (CAGR) over the next five years to reach $29.7 billion,” said Arabian Travel Market exhibition director in Middle East, Danielle Curtis.
“And Egypt also has a significant outbound market for the GCC. Some 1.84 million visitors arrived in 2019 and this is estimated to increase to 2.64 million by 2024.”
Visitors from Saudi Arabia are expected to drive the growth.
At least 1.4 million tourists from Saudi Arabia visited Egypt in 2019 and this is expected to rise to 1.8 million by 2024.
Saudi Arabian tourists also spent $633 million in 2019 and this projected to reach $1.13 billion by 2024, according to Colliers International research.
Egypt attracts more tourists from Germany.
A total 2.48 million Germans visited the North African country last year where they spent $1.22 billion.
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