BSAC - AmCham Files/TourismCover.pdfMohamed Mansour, Mantrac EXECUTIVE DIRECTOR Hisham A. Fahmy...
Transcript of BSAC - AmCham Files/TourismCover.pdfMohamed Mansour, Mantrac EXECUTIVE DIRECTOR Hisham A. Fahmy...
Tourism SectorDevelopments
American Chamberof Commerce in Egypt
B S A CBusiness Studies & Analysis Center
IN EGYPT
January 2005Tourism
Sector Developments
BS
AC
Business Studies & Analysis Center
The Business Studies Series of the American Chamber of Commerce in Egypt provides accurate, timely and concise informa-tion on a specific sector or economic issue to the benefit of doing business in Egypt. Potential opportunities are highlightedand strengths and weaknesses are put in perspective. Recommendations are presented as conveyed from sector specialists.
Tourism Sector Developments in Egypt January 2005
Bank Rankings December 2004
Financial Reform Conference Proceedings December 2004
The Textile & Clothing Industry in Egypt August 2004
The Petroleum Industry in Egypt December 2003
The Construction Sector in Egypt September 2003
The Tourism Sector in Egypt August 2002
Information Technology in Egypt April 2002
The Insurance Sector in Egypt August 2001
Telecommunications in Egypt July 2001
The Egyptian Capital Market June 2001
The Egyptian Pharmaceutical Industry February 2001
Solid Waste Management in Egypt September 2000
The Egyptian Petroleum Industry August 2000
Egypt - U.S Trade Statistics May 2000
Egypt 2000: The Stable Emerging Market March 2000
Egypt - U.S. Trade Relations March 2000
Exporting to COMESA and South Africa February 2000
The Egyptian Banking Sector September 1999
The Dairy Sector in Egypt June 1999
The Egyptian Capital Market June 1999
The Egyptian Insurance Sector June 1999
East Port Said International Distribution Center March 1999
Mega Projects in Egypt: New Horizons for Development February 1999
2 0 0 2 / 0 5 P U B L I C A T I O N S
1 9 9 9 P U B L I C A T I O N S
2 0 0 0 / 0 1 P U B L I C A T I O N S
BOARD OF GOVERNORS2003 / 2005
PRESIDENTTaher Helmy, Helmy, Hamza & Partners (Baker & McKenzie)
EXECUTIVE VICE PRESIDENTSDan McCarthy, General Motors Egypt
M. Gamal Moharam, Egyptian Commercial Bank
VICE PRESIDENT, MEMBERSHIPAnis Aclimandos, Transcentury Associates
VICE PRESIDENT, PROGRAMSOmar El Derini, FAOM Consult/Red Wing
VICE PRESIDENT, LEGAL AFFAIRSThomas Thomason, InterGen
TREASURERYasser El Mallawany,
EFG- Hermes Private Equity
MEMBERS of the BOARDHesham Mekawi, BP Egypt
Mohamed Taymour, EFG-Hermes HoldingsLoula Zaklama, RadaResearch & Public Relations Co.
Rodney Eichler, Apache Egypt CompaniesJames Pringle, M.A. Kharafi Group
PAST PRESIDENTMohamed Mansour, Mantrac
EXECUTIVE DIRECTORHisham A. Fahmy
JANUARY 2005
PRODUCED BY THE AMERICAN CHAMBER OF COMMERCE IN EGYPTBusiness Studies & Analysis Center
Khaled F. Sewelam, Manager
Research Supervisor
Amira A. Sheha
Assistant Economic Researchers
Dina Mansour
Nancy Fahmy
Administrative Assistant
Rania Sabsouba
RESEARCHED BYMONA M. MANSOUR
MAIN SPONSORS
ASSOCIATE SPONSORS
Tight economic conditions in some major tourism generating markets together with the 9/11 events in theU.S., and the subsequent wars in Afghanistan and Iraq have dampened the growth of global tourism. Egypthas no doubt been affected by these international developments, experiencing below average growth rates intourism activity. Nevertheless, tourist arrivals were 10 times higher than the global average during 2000 –2003, and attracted some 25% of tourist arrivals to the Middle East.
SECTOR HIGHLIGHTS
• Tourism activity is a major contributor to GDP, employment and investment and the largest foreign cur-rency earner in Egypt.
• The appointment of the new body of the Ministry of Tourism in July 2004 signifies the start of a solid long-term vision for the tourism sector in Egypt.
• The European market constitutes the largest generating market for International Tourist Arrivals (ITA) toEgypt.
• Air travel is the most popular mode of transportation for ITA to Egypt, accounting for 80% of all travel tothe country.
• Egypt is a rich destination in the multi-attractions market, offering cultural, leisure, business, health, studyand other touristic activities.
• Recreation is the major reason for visiting Egypt – although MICE tourism is gaining huge momentum
• On the supply side, accommodation capacity grew at an average annual rate of 7% during 2000 – 2003, out-pacing tourism demand growth by 4%.
THE AMERICAN CHAMBER OF COMMERCE IN EGYPT
Business Studies & Analysis Center
33 Soliman Abaza Street • Dokki • Cairo • EgyptTel: (20-2) 338-1050 • Fax: (20-2) 338-9895
Website: www.amcham.org.eg • E-mail: [email protected]
January 2005Tourism
Sector Developments
BS
AC