Newly released market study: Egypt Tourism Report Q3 2015

From: Fast Market Research, Inc.
Published: Sun Aug 30 2015

2015 s hould see the continuing recovery of Egypt's tourism market. Following a disappointing last few years, where political turmoil and fear of political violence have deterred tourists from visiting the country, we are s tarting to see a turnaround enabling the market to recover . The situation remains fragile, however, with the consumers and businesses waiting to see if politi cal stability can be sustained.

Europe remains Egypt's largest source market, accounting for around 62% of total tourist arrivals the country, while Russia remains the biggest single source market, with over 1.7mn tourists expected to travel to Egypt in 2015. The downside risk to our forecast comes in the form of a weakening rouble, which has depreciated over 50% over the last few months. EU sanctions should, however, prove favourable to travelling to Egypt, in addition to relative affordability, encouraging more travellers from Russia to visit Egypt. In addition, the Egyptian government has waived visa application costs for Russian travellers, reflecting the country's commitment to deepening its travel relations with Russia.

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Inbound tourism from Western Europe is also expected to increase as economic conditions in key markets such as Germany and the UK improve. Consumer confidence and price competition in the airline industry is encouraging international travel, which should see Egypt benefit with increased arrival numbers and travel receipts. However, fears of further political turmoil and violence remain, and any incidents around Sharm El Sheikh will damage the industry in Egypt. Furthermore, a number of countries such as the UK and Poland have removed travel restrictions to Egypt, boosting the country's tourism industry. Provided that the political situation remains stable, this trend is likely to continue.

Egypt continues to have deep ties with other countries in the Middle East; these are both cultural and business-related, as a large number of Egyptians work in...

The Egypt Tourism Report has been researched at source and features BMI Research's independent assessment and forecasts for tourist expenditure; government expenditure on tourism; passenger arrivals and departures by mode of transport, reason for travel, origin and destination; and the accommodation market.

BMI's Egypt Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Egyptian tourism industry.

Key Benefits

* Benchmark BMI's independent tourism industry forecasts for Egypt to test other views - a key input for successful budgetary and planning in the Egyptian tourism market.

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