Tourism revenue could rise by 2% of GDP in the coming years

Tourism revenues could wipe out current account deficit- Capital Economics: Revenue generated in Egypt’s tourism sector could rise by as much as 2% of GDP in the coming years, wiping out the current account deficit, according to a report by Capital Economics. Tourism receipts may increase to as much as USD 5 bn if the number of arrivals follow their current trajectory and return to pre-2010 levels. The sector has undergone a speedy recovery over the past several years, helped by an improving security situation and European countries lifting flight bans in place since the Russian airline bombing in 2015. But still have a way to go through before we reach pre-2010 arrival numbers: We’re drawing around 8 mn visitors per year now, a far cry from the 14 mn people who visited in 2010.