According to the Travel Industry Trends 2023 report by Mastercard Economics Institute, Egypt and Saudi Arabia are in the top ten list of the most popular destinations for travelers in 2023.
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The Travel Industry Trends 2023 report by Mastercard Economics Institute revealed that Egypt and Saudi Arabia are among the most popular destinations for travelers in 2023, ranking seventh and eighth. The report also showed that global travel is driven by leisure and exploring new places, influenced by social media and entertainment.
The report said that the top four international destinations for travelers from the Middle East are the UK, the US, UAE, and France. It also noted that leisure and business travel is growing at the same pace globally, with a 42 percent increase from 2022 to 2023.
Egypt’s tourism sector has seen a remarkable recovery from the COVID-19 pandemic, with a 25.7 percent rise in revenue to $7.3 billion in the first half of FY 2022/2023, compared to $5.8 billion in the same period last year, according to the Central Bank of Egypt. The country also welcomed a record number of 1.35 million tourists in April 2023. Tourism is one of Egypt’s primary sources of foreign currency.
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