Egypt: Exporter Guide
Egypt’s Hotel-Restaurant-Institutional (HRI) sector in 2019 generated $13 billion in revenues, an 11.5 percent increase from 2018. The country's HRI sector in 2020 took a major hit with the COVID-19 pandemic outbreak. The outbreak led to the complete suspension of tourism from March through June (100-days). Tourism revenue losses have been $1 billion per month. Egypt quickly put in place fiscal, legal, and health measures to counter the negative economic impact of COVID-19. These helped - backed by a successful economic reforms program implemented in 2016 – to sustain a positive growth rate, the IMF and the Egyptian ministry of finance forecast the country’s growth rate to reach between 3.5 and 3.8 percent in 2020.