Egypt targets USD 15 bn in tourism revenues this year: The Tourism and Antiquities Ministry is looking to bring in a record USD 15 bn in tourism revenues in 2020, according to Al Shorouk. This would be a substantial increase on the USD 12.6 bn in revenues made last year. The ministry aims to achieve this by increasing the total number of nights stayed by tourists to 260 mn and up the average daily spending to USD 100. The ministry has not said what actions it will take to reach these targets, but experts say ramping up international tourism campaigns, upgrading transport infrastructure, and completing hotel developments should be top priorities.
More from Enterprise
Israel’s Arkia Airlines moves flights to Egypt’s Taba to bypass wartime airspace restrictions
Israel’s Arkia shifts some flights to Egypt as airspace tightens…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Private capital hasn’t frozen in MENA — but the exit playbook could change if the war drags on
PE and VC-backed companies were already pivoting to local exchanges…
Telda moves into investing with zero-fee stock trading
Telda claims users can sell a position and immediately spend…