NewswireToday - /newswire/ -
Delhi, New Delhi, India, 2007/11/28 - Egypt’s ancient beauty, efficient tourism infrastructure and strong government support are alluring the tourists from all over the world to explore this mysterious country of mummies.
RNCOS, the leading market research consulting services company, has recently published its comprehensive report “Egypt Tourism Sector Analysis” to present a rational analysis of the tourism industry of the North African country, Egypt. According to the report, the tourist influx in Egypt is expected to register growth at a CAGR of over 7% for the period 2007-2011.
As per the report, the rapid growth of the Egyptian tourism industry in future will be driven by strong government efforts. Besides long-standing tax holidays in select tourism areas for the investors, the Egyptian government has shown keen interest in the development of tourism industry, campaigning intensely in chief Gulf and European countries, and offering lucrative incentives to foreign operators.
Apart from the government initiatives, rising tourism sponsoring campaigns, such as “Egypt… the Incomparable” and “The Gift of the Sun”, geographical location, rising FDI, and increasing personal disposable income, coupled with favorable age group will add substantially to the future growth of the Egypt’s tourism industry.
A Senior Research Analyst at RNCOS opined that the depreciation in the value of the Egyptian Pound has further transformed the nation into a bargain destination for the overseas travelers, which also reflects huge prospects for the non-traditional tourism. This includes mainly increased treks off the beaten-track such as desert safaris and diving holidays into the Red Sea.
The report also highlights the rapidly growing tourism industry as one of the most promising economic sectors which has created plethora of opportunities for related industries like aviation, hotel, food retailers and tour operators.
However, the Egyptian tourism industry is also facing certain impediments which are hindering its growth process, such as rising fuel prices, traditional tourism reaching saturation, and increasing risk of terrorist attacks that has cast a shadow over the tourism industry.
"Egypt Tourism Sector Analysis” provides keen insight into the Egyptian tourism industry by prudently analyzing various aspects, such as tourist arrivals, tourism expenditure, and length of stay by the domestic and international tourists and its influence on related industries to understand the present and future prospects of the Egyptian tourism industry.
The report also covers industry’s past performance, effect of positive and negative forces on it, economic performance, competitive structure, government rules and regulations, and key opportunities to present a rational future outlook of the Egyptian tourism industry.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.