How big is the tourism market in Egypt?

Tourists arrivals reached a pinnacle in 2010 by reaching 14.7 million visitors. Revenues from tourism reached the highest point at $12.6 billion in the fiscal year 2018–2019. In the year 2020, tourism-related revenues dropped by nearly 70% to $4 billion.



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According to a new report from the World Travel & Tourism Council (WTTC), the US remains the biggest tourism market worldwide, with China and Germany taking second and third places in the rankings. The US travel and tourism sector contributed USD 1,217.2 billion to GDP (5.5 %).

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According to IBISWorld experts' analysis, the global tourism industry is ranked 5th on the list of the 10 global biggest industries by revenue. However, if we rank the industry's size by employment, the travel industry comes in as the first one.

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Egypt's ancient sites and Red Sea coast attract visitors from across the globe, with tourism accounting for about 10-15 percent of the Egyptian economy and millions of jobs.

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Travel and tourism GDP is predicted to grow, on average, at 5.8 percent a year between 2022 and 2032, outpacing the growth of the overall economy at an expected 2.7 percent a year. 5. So, is it all systems go for travel and tourism? Not really. The industry continues to face a prolonged and widespread labor shortage.

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Towards 2030, the metaverse will enable visitors to mentally teleport themselves to destinations, regardless of time, financial resources and physical abilities. Individuals will seamlessly move between integrated digital and physical realities, where the engagement with travel becomes a part of daily life.

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Looking ahead These results show international tourism remains well on track to reach 80% to 95% of pre-pandemic levels in 2023.

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France is the most visited country in the world with 117,109,000 international tourists, thanks to its rich history and iconic landmarks. Mexico comes in second for most visited countries, with 51,128,000 tourists, offering vibrant culture and stunning natural beauty.

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Countries with the highest inbound tourism receipts worldwide 2019-2022. The United States was the country worldwide with the highest international tourism receipts in 2022.

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Some of the most important tourism trends impacting customer behavior and influencing the industry are technology-related. Examples include voice recognition technology, contactless payments, artificial intelligence, virtual reality, facial recognition, and the continued rise of the Internet of Things.

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Easing Travel Restrictions Domestic leisure travel is trending to remain stable and grow slightly, by about 2% in 2023 and 2024. Volume is expected to grow more readily than inflation-adjusted spending. Business travel is not expected to correct to pre-pandemic spending levels until 2025. (U.S. Travel Association).

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