A new report released by the Arabian Travel Market revealed a marked increase in expected Egyptian tourism revenues coming from visitors from GCC countries. According to the report, visitors from the region will contribute USD 2.36 billion to Egypt’s coffers in 2020, representing an 11% increase over spending by GCC visitors in 2019.
Saudis, who made 1.4 million trips to Egypt in 2019, are expected to be the main drivers of this trend. As the kingdom opens its own borders to tourism as part of its plan to reduce reliance on oil revenues over the next decade, so too are its citizens venturing out to explore more and take advantage of the offerings of neighbouring countries in the region.
If estimates from Colliers International hold steady, Saudis can be expected to spend over USD 1 billion per year in Egypt by 2024. For comparison, all visitors to Egypt spent a total of USD 16.4 billion in 2019.
