Egypt revises tourism growth forecast for ’24 amid global challenges

Egypt’s Minister of Tourism and Antiquities, Sherif Fathy revealed on Tuesday a downward revision in the country’s tourism sector growth forecast for the year.

Speaking at a conference organised by the British Egyptian Business Association conference، the minister explained that initial expectations for tourism growth ranged between 9 per cent and 11 per cent. However, due to prevailing economic and political challenges, the new projection has been adjusted to 5 per cent.

Fathi outlined the ministry’s growth model, which anticipates three years of single-digit growth (below 10 per cent) followed by two years of double-digit expansion (above 10 per cent), acknowledging that some years may still see growth below 10 per cent.

He emphasised that the ministry will continue to monitor the evolving situation closely and update its forecasts regularly to align with both local and global developments.

Attribution: Amwal Al Ghad English