Egypt’s tourism revenues rise 83.3% in Q1-FY2017/18

Egypt’s revenues in the tourism sector jumped 83.3 percent in the first quarter of financial year 2017/2018, reaching $2.2 billion, a senior anonymous official source told Reuters.

The source said that the number of tourists who visited Egypt in Q1 increased by 37.1 percent, bringing in a total of 2.383 million tourists.

Moreover the report stated that tourist nights reached $23.8 million in the same time span.

Recently Egyptian Minister of Tourism Rania al-Mashat said that the number of tourists visiting Egypt has jumped by 30 percent during the first quarter of 2018, compared to last year.

The Central Agency for Public Mobilization and Statistics (CAPMAS) reported that the country has received at least 730,000 tourists in February 2018, achieving a 35 percent increase compared to the same month last year.

Meanwhile, a report recently released by STR global said that Egypt’s hotel occupancy rate for Q1 of the 2018/2019 financial year was at its highest since 2010.

The report stated that the increase in occupancy rates hiked by 21.2 percent to reach 60.1 percent in Q1 with an increase in the average daily rate bringing in 1,292 pounds.