Investment in Egypt’s Tourism Sector: Opportunities and Challenges
Tourism is one of the fundamental pillars of Egypt’s economy. The economic conference, which was held in March 2015, paves the way for developing this sector because Egypt enjoys unique archeological and touristic sites.
The paper points to key points of strength in Egypt’s tourism sector which is the second largest source of revenue for the country. It employs more than 12% of Egyptians and contributes 3.2% of the country’s GDP.
The paper, then, deals with several challenges facing the tourism sector in Egypt after the Jan. 2011 revolution, notably, the deteriorating security conditions in the country, the decline of foreign investments which constitute 3% only of total investments, while the rest comes from Egyptian-Gulf investments, as well as, the problem of work permits.
Finally, the paper introduces three alternative trajectories to maximize opportunities, minimize challenges, in addition, to a number of recommendations to boost investments in Egypt’s tourism.
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