Egypt’s Ministry of Planning and Economic Development reviews the targets of the tourism sector in the FY 21/2022 plan

EGP 8.5 billion in investments in the tourism and antiquities sector in the FY 21/2022 plan, with a growth rate of 64%: Says Hala El-Said


The Ministry of Planning and Economic Development reviewed the targets of the tourism sector in the current fiscal year 21/2022 plan, which is the fourth year of the medium-term plan for sustainable development (18/2019 - 21/2022).Dr. Hala El-Said, Minister of Planning and Economic Development, stressed that the tourism sector occupies special importance for the Egyptian economy for several reasons, namely that it is a dynamic sector characterized by high growth rates and its large sectorial contribution to the growth of GDP.Egypt’s tourism sector also represents one of the main sources of foreign exchange in the country, in addition to the sector's wide-ranging capacity to absorb labor, as its hotel and tourism facilities provide many job opportunities.El-Said pointed out that the tourism sector is characterized by the spatial spread of its activities to uninhabited desert areas, which contributes to increasing the area of ​​the Egyptian world, in addition to the growing intertwined relations of the sector and its close connection with many other sectors that supply tourism activities with inputs.Moreover, Egypt’s Planning Minister indicated that it is estimated that investments in the tourism and antiquities sector will reach about EGP 8.5 billion in the year 21/2022, compared to about EGP 5.2 billion expected in 20/2021, with a growth rate of 64%, and compared to EGP 5.5 billion in actual investments in 19/ 2020.The report of the Ministry of Planning and Economic Development included the targets of the tourism sector in the plan for the year 21/2022. On the sector's production level, it is estimated that it will reach about EGP 120 billion at current prices, compared to EGP 93 billion during the year 20/2021, with a growth rate of nearly 29%.


It is targeted to increase the GDP of the tourism sector at current prices during the year 21/2022 to EGP 91.4 billion, compared to EGP 69.5 billion in the previous year, with a growth rate of 31.5 percent.The report pointed out that the development vision of the tourism sector is for Egypt to be a sustainable and attractive tourist destination at the regional and international levels, and an essential supporter of the national economy and the UN goals for sustainable growth.The strategy to achieve this vision is to improve the quality of the tourism product with strict adherence to environmental standards and green tourism to ensure sustainability and diversify the tourism product by targeting new tourism patterns, such as eco-tourism, sports, and safari tourism, and diversifying foreign markets to attract visitors from emerging economies that are heading for greater openness.