Egyptian authorities expect to boost tourism revenue to $30 billion a year, Prime Minister Mustafa Madbouli said.
“Egypt looks to double tourism revenue to $30 billion a year with private sector help,” Madbouli said on Sunday, after his trip to Sharm el-Sheikh, where he got acquainted with preparations for the COP27 climate summit.
The UN Climate Change Conference (COP26) was held in Glasgow last November. It was organized to help reach meaningful commitments to fulfill targets set by the 2015 Paris Agreement on greenhouse emission reduction, carbon neutrality, global warming and climate finance. The next UN climate conference, COP27, will be held in Egypt’s Sharm el-Sheikh on November 6-18.
Egypt expects to wrap up most of COP27 preparations in September. According to Madbouli, the climate summit will attract a larger number of participants compared to similar events in the past.
In 2019, Egypt’s tourism revenues set a record, exceeding $13 billion, but in the next pandemic year of 2020, the figure dropped to $4 billion.