Egypt eyes gradual return for tourism after revenues fall to $4 bln in 2020

Egypt’s tourism revenues have plunged by around 70 percent to $4 billion in 2020 due to the coronavirus pandemic, Tourism and Antiquities Minister Khaled El-Enany said on Monday.

The number of tourists visiting Egypt reached 3.5 million in 2020, down from 13.1 million in 2019, El-Enany told CNBC Arabia.

Foreign occupancy rates in Egyptian hotels fell to just 10-15 percent of 2019 levels, the minister added.

Tourism sector, a key source of foreign currency, accounts for up to 15 percent of Egypt’s national output.

Officials in Egypt have been shedding the light on new archaeological discoveries in an attempt to revive visitor numbers, and hope the delayed inauguration of the Grand Egyptian Museum next to the pyramids, expected later this year, will help the tourism sector recover.