Egypt has more than $6 billion of tourism-related projects
COVID-19 has decimated Egypt’s tourism industry. More than 11 million tourists visited in 2018. There are currently more than $6 billion of active projects in the tourism and leisure sector.
International tourists spend more than $12 billion annually in Egypt or roughly 5 per cent of its GDP. With a population exceeding 100 million, tourism is an essential part of the Egyptian economy. Destinations such as Sharm-El-Shaikh, Luxor and Giza are prominent destinations for international travellers visiting Egypt.
There are currently more than $6 billion of active projects in the tourism and leisure sector. Of this, $5.1 billion is under construction and more than a billion in the design phase. Typically, the tourism sector recovers quickest after disaster struck. Egypt’s current construction activity accounts for just over 60 per cent of North Africa’s active tourism-related projects.
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