Travco’s share in Egypt’s tourism flows likely to drop 10% in 2024

In 2023, the group’s share in tourism flows to the country amounted to about 1.2 million tourists, El Chiaty said

Staff Writer, Arab Finance

March 18, 2024

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Travco Group’s share in tourism flows to Egypt is expected to decrease by around 10% in 2024 amid the current geopolitical tensions, Al Arabiya Business reported, citing the group’s chairman Hamed El Chiaty.

In 2023, the group’s share in tourism flows to the country amounted to about 1.2 million tourists, El Chiaty said.

He added that the group will inaugurate a new hotel in October, with investments of EGP 2 billion.

Extending over 6 million meters, the new hotel will feature 250 rooms.

It is worth noting that Egypt received a record-breaking number of tourists in 2023, reaching 14.906 million people in 2023, which surpassed a previous record of 14.731 million tourists in 2010.

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