According to the minister of Tourism, Hisham Zaazou, the country received 8.8 million tourists from January to September, generating 6.9 billion Egyptian pounds in revenues (US$ 1.13 billion at current exchange rates). He believes the figure may reach 12 million by the end of the year. “We will definitely exceed 11 million,” he said, according to Reuters.
To the minister, next year tourism should return to pre-Arab Spring, 2010 levels, when the country received 14.5 million visitors. Dictator Hosni Mubarak was overthrown early last year amidst popular protests after nearly three decades in power. In June this year, Mohamed Morsi was elected president by popular vote, but the country’s political situation is still delicate.
In 2011, the number of visitors dropped to 9.8 million, at 8.8 billion pounds (US$ 1.44 billion), according to Reuters. In the preceding year, the sector generated 12.5 billion pounds in revenues (US$ 2.05 billion). The agency reports that prior to the Arab Spring, the sector accounted for more than 10% of the Gross Domestic Product (GDP).
According to projections from the Egyptian government, the number of tourists may reach 30 million in 2020, and revenues may amount to 25 billion pounds (US$ 4.1 billion). Reuters reported that the country will consider offering fiscal incentives to investors in tourism-related sectors such as hotels. The minister added that he is looking to re-establish air routes which were interrupted during the uprising last year.
*Translated by Gabriel Pomerancblum
