Egypt’s tourism revenues jumped 211.8 % year on year in first nine months of 2017

Egypt’s tourism revenues jumped 211.8 percent year on year to $5.3 billion in the first nine months of 2017, a government official said on Wednesday, as the industry starts to recover after years of political upheaval that drove visitors away.

The tourism sector is one of the country’s main sources of foreign currency but it has struggled since a 2011 uprising that led the then president to step down.

A currency float tied to a $12 billion International Monetary Fund program signed last year has also helped give the country a competitive edge.

“Tourism revenues jumped to $5.3 billion in the first nine months of 2017 compared with $1.7 billion the year before … The improvement in numbers came from an increase in tourists’ average spending to $88.2 per night,” said the official who requested anonymity.

The number of tourists who visited Egypt in that time jumped 55.3 percent to 5.9 million, with European visitors reaching 3.2 million, an 85 percent increase from the previous year, he added.

Full Article : Egypt Independent

Author : Reuters

About the author: Thomas Yates

After finishing his Business Management degree Tom was looking to join a progressive company where he had the opportunity to have his own ideas listened to and implemented. It was a case of being in the right place at the right time as Rivermead Global were looking at taking somebody on and in 2009 Tom joined the company. If you are looking at buying a property in Egypt or Turkey you have come to the right people. Read our Ultimate Guide To Buying Property In Hurghada