{"id":585658,"date":"2023-04-27T00:00:00","date_gmt":"2023-04-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/27\/another-sign-that-more-tourists-are-heading-our-way\/"},"modified":"2023-04-27T00:00:00","modified_gmt":"2023-04-27T00:00:00","slug":"another-sign-that-more-tourists-are-heading-our-way","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/27\/another-sign-that-more-tourists-are-heading-our-way\/","title":{"rendered":"Another sign that more tourists are heading our way"},"content":{"rendered":"

<\/span>Hotel occupancy in Egypt increased 20-25% y-o-y in 1Q 2023<\/span> thanks to tou<\/span>rist <\/span>inflows from<\/span> new markets<\/span> and the <\/span>depreciation of the EGP<\/a><\/span>, <\/span>Asharq Business<\/a><\/span> reports, citing an unnamed tourism official. <\/span><\/p>\n

In detail:<\/span> Hotels in Cairo hit an 85% occupancy rate during the January-March quarter, followed by Luxor and Aswan (80%), Marsa Alam (70%), Hurghada (65%), and Sharm El Sheikh (55%), according to the source.<\/span><\/p>\n

Tourism revenues are on the rise:<\/span> Revenues climbed m<\/span>ore than 50%<\/span> y-o-y to <\/span>USD 9 bn <\/span>during the first nine months of 2022, according to central bank figures.<\/span><\/p>\n

And they\u2019re expected to grow further this year:<\/span> The Tourism Ministry is expecting to receive a <\/span>record 15 mn tourists<\/a><\/span> this year, up 28% from last year. Fitch Solutions has forecast a lower <\/span>11.6 mn arrivals<\/a><\/span>, though said this would bring in record revenues of USD 13.6 bn. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Revenues are forecast to reach USD 13.6 bn this year<\/p>\n","protected":false},"author":1,"featured_media":585659,"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":[7377],"tags":[104,72,955,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-585658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tourism","tag-economy","tag-enterpriseam","tag-hospitality","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"4156943f-07d8-4045-9a62-bb0ffd576c0d","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/874.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt hotel occupancy up 25% in 1Q 2023","related_issue":[585650],"teaser":"Revenues are forecast to reach USD 13.6 bn this year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.062791cf-c669-40b9-b793-c2776830d681.mp3"},"yoast_head":"\nAnother sign that more tourists are heading our way - 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Occupancy soared 44% y-o-y in Sharm El Sheikh, while Hurghada also saw a double-digit y-o-y increase\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":576488,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/25\/hotel-occupancy-rates-fall-sharply-due-to-pandemic\/","url_meta":{"origin":585658,"position":1},"title":"Hotel occupancy rates fall sharply due to pandemic","author":"enterpriseam admin","date":"25 November 2020","format":false,"excerpt":"Hotel occupancy rates in Cairo nosedived 67% y-o-y so far this year amid the pandemic-induced slump in tourism, according to Colliers International\u2019s MENA Hotels Quarterly review (pdf). Hurghada and Sharm El Sheikh\u2019s occupancy rates have also fallen 57% and 55% year-to-date. Alexandria was the least affected of the Egyptian cities,\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":573813,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/hurghada-tourism-drops-53-y-o-y-in-1h2020-sharm-51\/","url_meta":{"origin":585658,"position":2},"title":"Hurghada tourism drops 53% y-o-y in 1H2020, Sharm 51%","author":"enterpriseam admin","date":"18 August 2020","format":false,"excerpt":"Hotel occupancy rates in Hurghada and Sharm El Sheikh nosedived 53% and 51%, respectively, in 1H2020 amid a pandemic-induced slump in tourism, according to a Colliers Internationalreport(pdf). Cairo and Alexandria were less hard-hit than the Red Sea resort towns, with occupancy rates in the capital declining 47% and 46% in\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559762,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/03\/hotel-occupancy-falls-60-in-2020\/","url_meta":{"origin":585658,"position":3},"title":"Hotel occupancy falls 60% in 2020","author":"enterpriseam admin","date":"3 February 2021","format":false,"excerpt":"Look away: The final 2020 figures for Egypt\u2019s hotel industry are in. Hotel occupancy in four of Egypt\u2019s biggest tourist destinations fell almost 60% in 2020 to average just 30% as the covid-19 pandemic brought the country\u2019s tourism sector to a halt. Figures in Colliers International\u2019s latest MENA report (pdf)\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\/2021\/2\/61.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574804,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/22\/hotel-occupancy-in-egypt-to-rise-next-year-colliers\/","url_meta":{"origin":585658,"position":4},"title":"Hotel occupancy in Egypt to rise next year -Colliers","author":"enterpriseam admin","date":"22 September 2020","format":false,"excerpt":"Hotel occupancy rates in Cairo, Sharm El Sheikh, Hurghada, and Alexandria could rise 43-56% y-o-y in 2021, Colliers International says in its latest MENA hotel forecasts report (pdf). Colliers expects hotel occupancy in the capital to hit 65% next year (up 56% y-o-y), while Sharm El Sheikh occupancy is forecast\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":557193,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/09\/colliers-still-optimistic-on-egypt-hotel-recovery\/","url_meta":{"origin":585658,"position":5},"title":"Colliers still optimistic on Egypt hotel recovery","author":"enterpriseam admin","date":"9 September 2021","format":false,"excerpt":"Colliers International maintained its optimistic forecast for Egypt\u2019s hotel occupancy in its September report on MENA hotels (pdf). All four Egyptian tourism destinations listed \u2014 Cairo, Sharm El Sheikh, Hurghada and Alexandria \u2014 are expected to witness continued growth in occupancy this year despite some modest revisions in Alexandria and\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\/2021\/9\/122.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/585658","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=585658"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/585658\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/585650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/585659"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=585658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=585658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=585658"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=585658"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=585658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}