Egyptian Tourism Revenue Sees Dramatic Growth in 2010

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Egypt continues to defy industry trends in 2010, posting strong revenue figures for the first half of the year.

ulookubook.com

Revenues were predicted to rally during this period, as the effects of the recession dissipated

Egypt's Tourism Minister Zoheir Garrana has announced that the country’s tourism revenues from the first six months of 2010 have increased by 17.6 per cent compared to the same period last year. Garrana indicates a number of factors as contributing to the boost, including the strong euro driving holidaymakers out of the eurozone, record winter temperatures in Europe, and increasing numbers of Russian tourists now looking outside their own country for cheap holidays.

Tourism revenues reached $5.58 billion in the first half of 2010, compared to $4.6 billion in the same period last year. Meanwhile, industry analysts predict revenues to reach $12.4 billion by the end of the fiscal year, up on $10.8 billion in 2009.

“Revenues were predicted to rally during this period, as the effects of the recession dissipated,” says Ian Raine of holiday experts ulookubook.com. “There were other factors, of course, such as the weak pound driving British holidaymakers away from the eurozone, and the continued growth of Egypt’s robust package holiday industry – perhaps demonstrated best by the increased sales of holidays to Sharm el Sheikh the past quarter. Unfortunately the ash cloud did much to dampen growth in April, with arrivals only up five per cent, compared to 20 per cent the month before.”

Over 7 million tourists came to the country in the first half of 2010 – an increase of 21 per cent from the same period in 2009. Garrana points to the 95 per cent increase in Russian tourists booking holidays to Egypt - presumably to escape record low temperatures in their own country - contributing to the overall rise. Meanwhile, the average length of stay grew from 9.3 days in 2007 to over 10 days in 2010.

“It’s amazing what a bad winter can do to summer industry figures,” continues Raine. “The effect isn’t just limited to Egypt either, for the rest of the Mett - that’s Morocco, Egypt, Tunisia and Turkey – have all shown impressive Q2 numbers.”

Egyptian tourism is responsible for 11 per cent of the country’s GDP, with around one in eight Egyptians working in the industry.

Information for editors:
ulookubook.com is part of The Holiday Discount Centre, a member of ABTA (J4901) and Advantage (the largest travel consortium in the UK). Based in the UK, they have over 30 experienced travel advisors and have booked over 300,000 passengers via the internet.

ulookubook.com are not owned by any major tour operator, allowing them to offer free impartial travel advice and promote a wider range of holiday offers from various suppliers including Thomson, First Choice, Thomas Cook and many more.

What makes ulookubook.com prices stand out from the crowd is not only do they offer already cheap holiday deals, they also offer an extra on-line discount plus a price guarantee. Their website allows customers to have full flexibility in their search criteria giving something more than just a bog standard one/two week holiday. With deals like this, why would you want to search for a holiday elsewhere?

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Ian Raine
ulookyoubook.com
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