Visitors from Saudi Arabia to Egypt made 1,410 trips in 2019 with a forecast of 1,8 million tourists by 2024, a Compound Annual Growth Rate (CAGR) of five percent.
In terms of tourism expenditure, Saudi Arabian visitors spent USD633 million in 2019 which is estimated to grow at a CAGR of 11 percent through to 2024, reaching USD1,13 billion, according to Colliers International research commissioned by the organiser of ATM, Reed Travel Exhibitions.
Danielle Curtis, exhibition director ME, Arabian Travel Market, said, “Total tourism receipts in Egypt which stood at USD16,4 billion in 2019, will achieve an average 13 percent CAGR over the next five years to reach USD29.7 billion.” She added, “And Egypt also has a significant outbound market for the GCC. 1,84 million visitors arrived in 2019 and this is estimated to increase to 2,64 million by 2024.”
Egypt’s top source market is Germany with 2.48 million arrivals a 46 percent increase over 2018 and a total spend of USD1.22 billion in 2019. German arrivals are forecast to reach 2,9 million by 2024 with a total projected spend of USD2,18 billion.