{"id":546569,"date":"2022-05-22T03:45:31","date_gmt":"2022-05-22T03:45:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/tourism-revenues-to-more-than-double-in-2021-2022-maait\/"},"modified":"2022-05-22T03:45:31","modified_gmt":"2022-05-22T03:45:31","slug":"tourism-revenues-to-more-than-double-in-2021-2022-maait","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/tourism-revenues-to-more-than-double-in-2021-2022-maait\/","title":{"rendered":"Tourism revenues to more than double in 2021-2022 -Maait"},"content":{"rendered":"

<\/a> FinMin expects minimal damage to tourism revenues from Ukraine war: <\/strong>Egypt\u2019s tourism revenues will more than double in FY 2021-2022 from a year earlier, according to figures announced by Finance Minister Mohamed Maait last week. The Finance Ministry is projecting revenues to reach USD 10-12 bn in the current fiscal year, up from USD 4.9 bn a year earlier, Maait said during a meeting with US investment banks in London at the weekend, according to a statement<\/a> by the ministry.<\/p>\n

No Ukrainian + Russian tourists, no problem?<\/strong> The forecast suggests that the ministry doesn\u2019t expect the loss of Russian and Ukrainian tourists to make a huge impact on revenues, despite the countries accounting for more than 30% of all arrivals<\/a> prior to the war. The sector brought in USD 5.8 bn during the first half of the current fiscal year. The government is yet to release figures for 3Q 2021-2022, so it\u2019s not clear how the conflict has impacted revenues or how successful the government\u2019s attempts at luring tourists from other markets have been. We expect breaking into new markets to take time. <\/strong><\/p>\n

Remittances from Egyptian expats will also rise this year:<\/strong> The government expects remittances to rise to USD 32.5 bn by the end of the fiscal year, Maait said. This would be a 3.5% increase from the USD 31.4 bn worth of inflows from which Egypt benefitted last year.<\/p>\n

Egypt was one of the biggest recipients of remittances in 2021: <\/strong>Some USD 31.5 bn was sent to Egypt in calendar year 2021, making us the fifth-largest recipient of remittances in the world. The World Bank expects<\/a> receipts to rise 8% this calendar year, which would put the figure at around USD 34.8 bn, according to our calculations.<\/p>\n","protected":false},"excerpt":{"rendered":"

FinMin expects minimal damage to tourism revenues from Ukraine war: Egypt\u2019s tourism revenues will more than double in FY 2021-2022 from a year earlier, according to figures announced by Finance Minister Mohamed Maait last week. The Finance Ministry is projecting revenues to reach USD 10-12 bn in the current fiscal year, up from USD 4.9 […]<\/p>\n","protected":false},"author":1,"featured_media":546570,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[104,72,276,277,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546569","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam","tag-finance-ministry","tag-mohamed-maait","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"84145217-2f94-4190-9c94-500c29b40bf1","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/5\/272.jpg","photo_position":"above","related_issue":[546563],"teaser":"","voice_url":""},"yoast_head":"\nTourism revenues to more than double in 2021-2022 -Maait - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/tourism-revenues-to-more-than-double-in-2021-2022-maait\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tourism revenues to more than double in 2021-2022 -Maait\" \/>\n<meta property=\"og:description\" content=\"FinMin expects minimal damage to tourism revenues from Ukraine war: Egypt\u2019s tourism revenues will more than double in FY 2021-2022 from a year earlier, according to figures announced by Finance Minister Mohamed Maait last week. 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The virus outbreak has placed government finances under pressure as the three-month lockdown in the second quarter hit tax\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571356,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/10\/egypt-has-deployed-just-egp-40-bn-of-funding-from-the-egp-100-bn-stimulus-and-bailout-funding-maait-says\/","url_meta":{"origin":546569,"position":3},"title":"Egypt has deployed just EGP 40 bn of funding from the EGP 100 bn stimulus and bailout funding, Maait says","author":"enterpriseam admin","date":"10 May 2020","format":false,"excerpt":"The government has deployed just EGP 40 bn of the EGP 100 bn earmarked by the government to protect the economy against the covid-19 pandemic, Finance Minister Mohamed Maait said on Thursday, suggesting it has resources left to help cushion the blow to the economy. Some EGP 5.1 bn has\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/5\/87.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549306,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/egypt-wants-to-triple-its-tourism-revenues-within-three-years\/","url_meta":{"origin":546569,"position":4},"title":"Egypt wants to triple its tourism revenues within three years","author":"enterpriseam admin","date":"12 September 2022","format":false,"excerpt":"The government\u2019s latest tourism targets are ambitious: The government wants to more than triple annual tourism revenues over the next three years, Prime Minister Moustafa Madbouly said in a televised statement yesterday (watch, runtime: 1:48). Speaking during a tour of the COP27 venue in Sharm El Sheikh, the prime minister\u2026","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/194.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549628,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/25\/egypt-aims-to-double-natgas-revenues-to-usd-1-bn-in-coming-period-says-maait\/","url_meta":{"origin":546569,"position":5},"title":"Egypt aims to double natgas revenues to USD 1 bn in \u201ccoming period,\u201d says Maait","author":"enterpriseam admin","date":"25 September 2022","format":false,"excerpt":"Egypt wants to double natgas receipts: Egypt wants to increase revenues from natural gas exports to USD 1 bn per month from USD 500 mn currently \u201cin the coming period,\u201d Finance Minister Mohamed Maait said at a Bloomberg forum on Thursday. His statements come days after Oil Minister Tarek El\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546569","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546569"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546569\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546563"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/546570"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546569"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546569"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}