PM: Egypt targets $22b in tourism revenues for ’24

Prime Minister Moustafa Madbouly announced that Egypt is targeting $22 billion in tourism revenues for 2024, with plans to attract 15.5 million tourists by the end of the year despite ongoing economic challenges, according to the Cabinet statement.

Looking ahead, the government aims to reach 18 million tourists in 2025 to further boost revenues and reduce the country’s dollar deficit.

Speaking at a meeting with investors, Madbouly emphasised the importance of exceeding the usual $20-22 billion tourism revenue range, calling for clear and actionable proposals to sustain growth.

He projected 10-11 per cent growth in the tourism sector this year, with an ambitious target of 15 per cent growth in 2025, underscoring the need for collaboration to achieve these goals.

The Prime Minister also addressed broader economic challenges, including high interest rates and inflation, and highlighted the government’s sector-specific strategies to ensure sustainable growth across key industries.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama