Egypt Travel and Tourism Market

Egypt Travel and Tourism Market Overview:

The Egypt travel and tourism market size reached US$ 2.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.3 Billion by 2032, exhibiting a growth rate (CAGR) of 14.60% during 2024-2032. The extensive historical and cultural legacy of Egypt consisting of famous historic landmarks, increasing traveling activities among the masses to explore various famous locations, the advantageous position of the country, and rising implementation of favorable strategies aimed to improve the tourism sector are some of the factors impelling the growth of the market.

Egypt Travel and Tourism Market Trends:

Historical and Cultural Heritage

Egypt's extensive historical and cultural legacy is a fundamental aspect of its tourism industry. The nation contains a few of the globe's most famous historic landmarks, such as the Pyramids of Giza, the Sphinx, and the temples of Luxor and Karnak. These historic sites attract millions of visitors each year, excited to discover the remains of the ancient Egyptian culture. The historical importance of these sites, along with ongoing archaeological discoveries, adds to their attractiveness. This continual process of discovery maintains intrigue for both history buffs and academic scholars. Moreover, Egypt's rich cultural heritage goes beyond ancient monuments and includes Islamic and Coptic landmarks, offering a varied cultural experience. Festivals, traditional crafts, and local cuisines enhance the cultural scene, drawing culturally interested tourists. The government's crucial role in maintaining the appeal of these heritage sites is through sustainable tourism practices that preserve and promote them.

Strategic Geographic Location

The advantageous position greatly enhances its travel and tourism industry. Located on the Nile River with the Mediterranean and Red Seas as its borders, Egypt provides a variety of natural landscapes, ranging from fertile riverbanks to dry deserts and untouched beaches. This variety of landscapes attracts various tourists, from adventure seekers to beach lovers and ecotourists. The Red Sea is famous for its top-notch diving locations, drawing diving fans from all over the world. Additionally, Egypt's closeness to key tourist markets in Europe and the Middle East allows it to be easily reached by tourists seeking short-term stays. The advanced infrastructure of the country, which includes international airports in Cairo, Alexandria, and Sharm El Sheikh, makes it convenient for international tourists to access. The Suez Canal, an essential sea route, also indirectly improves Egypt's global connections and economic significance, thereby bolstering the tourism sector.

Economic Policies and Government Initiatives

Economic policies and government initiatives are pivotal in driving the growth of Egypt's travel and tourism market. The Egyptian government has implemented various strategies aimed at revitalizing the tourism sector, recognizing its importance as a significant contributor to the national economy. Key initiatives include the development of new tourism infrastructure, such as hotels, resorts, and transport facilities, particularly in underdeveloped regions. Investments in marketing campaigns targeting international tourists, coupled with efforts to simplify visa processes, have also been instrumental. The introduction of e-visa systems and visa-free access for certain nationalities has made it easier for tourists to visit. Additionally, the government's focus on enhancing security measures and ensuring political stability has helped restore confidence among international travelers. The establishment of tourism police and the implementation of stringent safety protocols at tourist sites are part of these efforts. Furthermore, initiatives to promote sustainable tourism, including environmental conservation projects and community-based tourism programs, align with global trends and attract environmentally conscious travelers. These comprehensive policies and initiatives collectively contribute to the robust growth of Egypt's travel and tourism market.

Egypt Travel and Tourism Market News:

• September 2023: The Egyptian Governorate of Aswan in Upper Egypt launched a new app to serve tourists, which allows them to access several necessary information related to tourist places, hotels, and hospitals.
• February 2034: Sabre Corporation established a new alliance with Red Sparrow Tourism Consultancy to provide travel agents across Egypt ample opportunities to grow their businesses with an intuitive technology.
   

Egypt Travel and Tourism Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on type, service offering, purpose of visit, and booking type.

Type Insights:

• Domestic
• Inbound
• Outbound
   

The report has provided a detailed breakup and analysis of the market based on the type. This includes domestic, inbound, and outbound.

Service Offering Insights:

• Ticket Reservation
• Hotel Booking
• Holiday/Tour Packages
• Others
   

A detailed breakup and analysis of the market based on the service offering have also been provided in the report. This includes ticket reservation, hotel booking, holiday/tour packages, and others.

Purpose of Visit Insights:

• Business
• Leisure and Recreation
• Education
• Medical
• Social Activity
• Others
   

The report has provided a detailed breakup and analysis of the market based on the purpose of visit. This includes business, leisure and recreation, education, medical, social activity, and others.

Booking Type Insights:

• Travel Companies
• Travel Agencies
• Online
• Others
   

A detailed breakup and analysis of the market based on the booking type have also been provided in the report. This includes travel companies, travel agencies, online, and others.

Regional Insights:

• Greater Cairo
• Alexandria
• Suez Canal
• Delta
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Greater Cairo, Alexandria, Suez Canal, Delta, and Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Egypt Travel and Tourism Market Report Coverage:

Key Questions Answered in This Report:

• How has the Egypt travel and tourism market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Egypt travel and tourism market?
• What is the breakup of the Egypt travel and tourism market on the basis of type?
• What is the breakup of the Egypt travel and tourism market on the basis of service offering?
• What is the breakup of the Egypt travel and tourism market on the basis of purpose of visit?
• What is the breakup of the Egypt travel and tourism market on the basis of booking type?
• What are the various stages in the value chain of the Egypt travel and tourism market? 
• What are the key driving factors and challenges in the Egypt travel and tourism?
• What is the structure of the Egypt travel and tourism market and who are the key players?
• What is the degree of competition in the Egypt travel and tourism market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Egypt travel and tourism market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Egypt travel and tourism market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Egypt travel and tourism industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.