Egypt's tourism revenues surge 253.3% in Q1 of 2021/22

CAIRO - 3 February 2022: Egypt’s tourism revenues increased during the first quarter of the current fiscal year by 253.3 percent, on an annual basis, according to the Central Bank of Egypt (CBE).

 

The CBE stated in its report on the performance of the balance of payments, that Egypt achieved $2.83 billion in tourism revenues during the period from July to the end of last September, compared to $801 million during the same period in the previous fiscal year.

 

The tourism movement in Egypt witnessed an improvement during 2021, with the start of the emergence of vaccines for Coronavirus and the recovery of air traffic and countries’ economies from the negative repercussions of the virus during 2020.

 

The transactions of the Egyptian economy during the first three months of the current fiscal year achieved a total surplus of $311.4 million, compared to a deficit of $69.2 million during the same period of the previous fiscal year, which the CBE attributed to the ability of the Egyptian economy to bear the negative repercussions of the Corona pandemic facing the global economy.