Latest news with #LE1.4
Al-Ahram Weekly
5 days ago
- Business
- Al-Ahram Weekly
Tourist numbers up - Egypt - Al-Ahram Weekly
Egypt ranked 10th in the world for increasing tourist arrivals during the first three months of this year. In a strong start to the year, Egypt's tourism sector has recorded impressive growth, earning the country a place among the top 20 global performers for the first quarter of 2025. The achievement comes as a result of targeted marketing campaigns, the expansion of airline connections and the aviation incentive programme, improved infrastructure, and enhanced visitor experiences across cultural and coastal destinations, according to tourism experts. According to the May 2025 World Tourism Barometer issued by UN Tourism, Egypt ranked 10th among the world's top 20 best-performing countries in tourist arrivals, recording a 21 per cent increase compared to the same period in 2024 and a 40 per cent rise over the pre-pandemic year of 2019. In mid-June this year, the World Travel & Tourism Council (WTTC) highlighted Egypt's exceptional performance in its latest Economic Impact Research Report, reporting record-breaking figures for the sector. In 2024, Egypt's travel and tourism sector reached an unprecedented milestone, contributing LE1.4 trillion to national GDP, equivalent to 8.5 per cent of the economy, the highest share ever recorded. This figure does not only include tourism revenues but also the spending of tourists, the job opportunities the sector created through the year, and investments in the sector. 'Looking ahead, the momentum is set to continue,' the report said, adding that projections for 2025 indicate a further 4.9 per cent growth in the sector, with its contribution to GDP forecast to rise to 8.6 per cent, setting yet another all-time high. 'Egypt's travel and tourism sector is experiencing a powerful resurgence, with record-breaking economic contribution and a sustained surge in visitor spending. These numbers reflect a sector on the rise: dynamic, resilient, and vital to the country's growth,' Julia Simpson, WTTC president and CEO, was quoted as saying in a statement. She added that with its rich cultural heritage, world-class attractions, and growing connectivity, Egypt continues to captivate travellers from around the globe. The government's focus on investment, infrastructure, and sustainable tourism is clearly paying off. Sherif Fathy, minister of tourism and antiquities, confirmed that the country had recorded an increase ranging between 23 and 24 per cent in tourist arrivals during the first half of 2025, reaching 8.7 million visitors, compared to the same period in 2024, with 22 per cent growth recorded in June alone. He added that the country is targeting a 14 per cent increase in inbound tourist traffic, aiming to attract between 17.5 to 18 million visitors by the end of 2025. 'This goal reflects the government's strategic commitment to expanding and strengthening the tourism sector as a major pillar of national economic growth,' he said. Fathy emphasised that the ministry is intensifying efforts to enhance Egypt's tourism environment through large-scale infrastructure upgrades and expanded global promotional campaigns. According to data from the Central Bank of Egypt (CBE), tourism revenues reached a record $15.3 billion in 2024, marking a nine per cent increase over the previous year. These figures underscore the success of government policies designed to position Egypt as a premier destination for international travellers. The Red Sea resorts and Nile cruises were among the strongest performers, with a 25 per cent increase in tourist numbers during the first quarter of 2025 compared to the same period in 2024, receiving 3.9 million visitors. 'Egypt's rising appeal as a global tourism destination is being driven by a combination of security, political stability, economic competitiveness, and strategic marketing efforts to targeted markets,' Fathy said. The security conditions in Egypt have positioned it as a preferred destination for travellers from Europe, the Gulf region, and beyond. Last Saturday, the US and the UK announced updated travel advisories for Egypt, reflecting improved safety conditions. Egypt has been reclassified by the US Department of State under Level Two: Exercise Increased Caution, placing it in the same category as countries such as France and Germany. Egypt was previously under Level Three: Reconsider Travel. Another major factor fuelling this growth is the relatively cheap Egyptian pound when compared to currencies used by Gulf and European tourists, making the destination attractive for leisure travel, business, and longer stays. As part of its strategy to expand its global reach, the government has rolled out several digital campaigns targeting key regional markets, under the slogan: 'Egypt… Unmatched Diversity.' 'We are actively working to diversify Egypt's tourism products to unlock the full potential of our heritage, nature, and beaches, transforming them into marketable, world-class experiences that speak to today's global traveller,' Fathi said, elaborating that the ministry's goal is to position the country as the world's most dynamic and diverse tourist destination. New destinations such as the Siwa Oasis, Alamein, and South Sinai are being introduced to both local and international markets. These emerging regions offer unique experiences in eco-tourism, adventure tourism, and medical tourism, reflecting the government's broader strategy to attract a more diverse and sustainability-minded traveller base. The country, in cooperation with the global travel platform WEGO has recently launches an initiative to attract one million Arab tourists by mid-2026. The campaign utilises multilingual digital marketing tools, particularly in Arabic and English, to engage a wider audience and promote Egypt as a dynamic and accessible destination. Global travel demand has remained strong and resilient, according to the UN Tourism May 2025's Barometer. Around 300 million tourists travelled internationally in the first quarter of 2025, about 14 million more than in 2024. International tourist arrivals increased by five per cent in the first quarter of 2025, compared to the same period in 2024, and three per cent above the pre-pandemic year 2019. Despite global uncertainty, travel demand is expected to remain resilient. UN Tourism's January projection of three to five per cent growth in international arrivals for 2025 remains unchanged. * A version of this article appears in print in the 24 July, 2025 edition of Al-Ahram Weekly Follow us on: Facebook Instagram Whatsapp Short link:
Egypt Independent
01-05-2025
- Business
- Egypt Independent
PM Witnesses Agreement to Build Blood Bag Factory in Suez Economic Zone
Prime Minister Mostafa Madbouly attended the signing of an agreement to establish a factory in the Suez Canal Economic Zone for the local production of blood bags and collection kits. The project is a partnership between the Egyptian Company for Medical Investments (ECMI), Japanese medical giant JMS, and Interpharm Egypt. The factory will cover 7,000 square meters in Ain Sokhna and is expected to meet all of Egypt's annual needs for blood bags. It aims to produce seven million units per year by its seventh year, three million for domestic use and 4 million for export to regional markets. The investment is valued at LE1.4 billion and includes sterile production zones and advanced storage facilities. The project supports Egypt's plan to expand local manufacturing in medical sectors and improve supply stability. The agreement was signed in the presence of senior Egyptian officials and the ambassadors of Japan and Singapore.
