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Key regions: Malaysia, Europe, Singapore, Vietnam, United States
Egypt's Travel & Tourism market is experiencing significant growth and development.
Customer preferences: Travelers in Egypt are increasingly seeking unique and authentic experiences, moving away from traditional tourist attractions to explore off-the-beaten-path destinations. This shift in preferences is driven by a desire for cultural immersion and a more personalized travel experience.
Trends in the market: One notable trend in the Egyptian Travel & Tourism market is the rise of ecotourism and sustainable travel practices. Travelers are becoming more conscious of their environmental impact and are actively seeking eco-friendly accommodations and activities. This trend is in line with global efforts to promote sustainable tourism and preserve natural resources.
Local special circumstances: Egypt's rich historical and cultural heritage, including iconic landmarks such as the Pyramids of Giza and the Sphinx, continues to attract tourists from around the world. The country's strategic location at the crossroads of Africa, Asia, and Europe also contributes to its appeal as a travel destination. Additionally, Egypt's diverse landscapes, ranging from the Nile River to the Red Sea coast, offer a wide range of activities for tourists to enjoy.
Underlying macroeconomic factors: The Egyptian government has been actively investing in infrastructure development and promoting tourism as a key driver of economic growth. Initiatives such as the expansion of airport facilities and the simplification of visa processes have helped to attract more visitors to the country. Additionally, the depreciation of the Egyptian pound has made Egypt a more affordable destination for international tourists, further boosting the Travel & Tourism market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels, vacation rentals, cruises, package holidays, and camping.Modeling approach:
Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)