In Egypt, the domestic tourism accounts for 19% of the total revenues emanating from the tourism sector. The country has a huge domestic tourism market. According to the latest report, “ Egypt Tourism Sector Analysis” by RNCOS, per head disposable income in Egypt is anticipated to increase at a CAGR of 12.3% during 2011-2014, and this will fuel growth in the domestic tourism segment.
Tourism is one of the major sectors of the Egyptian economy. It is the main source of foreign currency for the country, and provides direct and indirect employment to a large population. The country’s outbound travel market has been experiencing an extraordinary transformation. International departures from the country increased in 2010 from 2009, with the number of outward-bound travelers reaching 6.1 Million. The outbound tourist expenditure is estimated to increase at a CAGR of 13% during the forecast period.
Spread over 50 pages, the report highlights an interesting fact that the Egyptian tourists undertaking pilgrimages to Saudi Arabia accounted for a significant proportion of the total outbound tourists in 2010. The study by RNCOS includes a thorough research and rational analysis of the tourism industry in Egypt. It not only provides segment-level analysis of the industry, but also throws light on the future trends which may shape up with the betterment of economic conditions.
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