Tourism receipts almost tripled and remittances rose in the last three months of FY2016-17, “marking another step in [Egypt’s] economic recovery,” Mirette Magdy writes for Bloomberg. “The data is further evidence of a gradual improvement in Egypt’s external finances,” she writes. Arqaam Capital senior economist Reham Eldesoki agrees, saying the “main foreign-currency earners are finally bouncing back, closing in on levels similar to those prevalent before the 2015-2016 crisis.”

Egypt holds a 13% share of the African continent’s international tourist arrivals so far in 2017, a study by the London-based FowardKeys finds. South Africa came in first with 18%, while Morocco was third with 11%. International arrivals are up 24.8% y-o-y YTD, according to the report, which says that “Egypt and Tunisia are the destinations leading the recovery” of Africa’s tourism industry this year.

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