Market Report, "Egypt Tourism Report Q2 2011", published

Recently published research from Business Monitor International, "Egypt Tourism Report Q2 2011", is now available at Fast Market Research
 
April 4, 2011 - PRLog -- Tourism Overview

After buoyant recovery in tourism in 2010, the political unrest that rocked Egypt in January/February 2011 has undermined our previous favourable outlook for the sector. BMI's expectation is now that foreign tourism will suffer a pronounced decline over the next few months at least. Partly as a consequence, we have revised our real GDP growth forecast for FY2010/11 to 3.2% from 5.1% previously (the country's fiscal year runs from July-June).

Soon after the anti-government protests began on January 25, hotel occupancy rates plummeted in major cities and key holiday destinations in the Red Sea area. Indeed, the government stated that around one million tourists fled Egypt during the course of the protests. It is a promising sign however, that a number of major European travel companies have indicated that package holidays to Egypt may resume in March, after cancellations during the crisis. Industrial action, following the political unrest, has also damaged the tourism sector. Foreign airlines, for example, cancelled flights to Egypt in late February, partly due to strikes by customs officials and maintenance staff at airports.

Recent events have overshadowed the performance of the sector in 2010, with officials stating that foreign tourists totalled close to 15mn. BMI estimates that this represents considerable growth of around 14% year-on-year (y-o-y), boosted by a recovery in key source markets and helped by the decline in the Egyptian pound.

Bird Flu Update

Figures published in February 2011 by the World Health Organization (WHO) show Egypt has confirmed 40 human deaths caused from the H5N1 (bird flu) virus (four new deaths since our previous report), out of 122 (previously 112) known human infections in the country, the largest number outside Asia.

Forecast Scenario

As with earlier episodes of political unrest in Egypt - albeit of a very different nature (for example, fatal bomb attacks) - tourism numbers have generally recovered relatively quickly. As such, we anticipate a sharp fall in foreign arrivals in H111 y-o-y, with some recovery thereafter. March is also the beginning of an important three-month season for European tourists to Egypt, with arrivals averaging just short of one million each month - nearly 80% of total visitors - in the period March-May 2010. Moderate economic recovery in important source markets should help tourist numbers recover in the latter part of 2011. In the eurozone, our revised economic growth forecasts are 1.6% and 1.9% in 2011 and 2012 respectively, following growth estimated at 1.8% in 2010. Growth in the UK - an important source market - is also forecast to edge up in 2011 and 2012, to 2.0% and 2.6% respectively. Although tentative at this stage, we forecast annual growth in foreign arrivals of about 11% in 2011.

Hospitality

At the end of 2010, Hilton Worldwide signed a management agreement with Egyptian engineering company Afak Co. for Touristic Development for the new 330-room Hilton Makadi Resort, which is expected to open in June 2011. An additional 346 rooms will be completed by Q212. The hotel will be Hilton's fourth property in the resort of Hurghada, on the Red Sea, and will bring Hilton's Egyptian portfolio to 17 properties.

For more information or to purchase this report, go to:
-  http://www.fastmr.com/prod/130582_egypt_tourism_report_q2...


Partial Table of Contents:

SWOT Analysis
- Egypt Tourism SWOT
- Egypt Political SWOT
- Egypt Economic SWOT
- Egypt Business Environment SWOT
Industry Forecast Scenario
- Arrivals
- Table: Egyptian Arrivals Data, 2007-2015
- Accommodation
- Table: Accommodation, 2007-2015 ('000, unless otherwise stated)
- Expenditure
- Table: Tourist Expenditure & Economic Impact, 2007-2015
- Inbound Tourism
- Table: Tourist Arrivals By Region, 2007-2015
- Table: Tourist Arrivals By Country, 2007-2015 ('000)
- Outbound Tourism
- Table: Outbound Tourism Data, 2007-2015
- Table: Resident Departures By Destination Country, 2007-2015 ('000)
Market Overview - Travel
- Airports
- Commercial Airlines
- Table: Key Players - Commercial Airlines
- Global Oil Products Price Outlook
- Table: Oil Product Price Assumptions, Q410-Q411 (US$/bbl)
- Table: Oil Product Price Data And Forecasts, 2008-2015 (US$/bbl)
Market Overview - Hospitality
- Accommodation Developments
- Tourism Infrastructure
- Regional Case Study: Accor
- Table: Accor Hotel Business In Selected Middle East And Africa Countries, December 2010
Business Environment Outlook
- Table: Middle East And Africa Travel And Tourism Business Environment Ratings
- BMI's Security Ratings
- Table: Middle East And Africa Defence And Security Ratings
- Table: Middle East And North Africa State Vulnerability To Terrorism Index
- Egypt's Security Risk Ratings
- City Terrorism Rating
- Table: BMI's Middle East And North Africa City Terrorism Index
- Middle East And North Africa Security Overview
H5N1 Virus Overview
Special Report: Tourism And Terrorism
Global Assumptions, Q211
- Table: Global Assumptions, 2009-2015
- Table: Regional Real GDP Growth, 2010-2013 (% change y-o-y)
- Table: Selected Exchange Rates, 2010-2013 (average)
- Developed States
- Table: Developed States' GDP Growth, 2010-2013 (% change y-o-y)
- Emerging Markets
- Table: Emerging Markets' GDP Growth, 2010-2013 (% change y-o-y)
- Consensus Forecasts
- Table: Consensus Forecasts, 2011 And 2012
Company Profiles
- EgyptAir
- Egyptian General Company For Tourism And Hotels (EGOTH)
- Travco
BMI Methodology
-

Full Table of Contents is available at:
-- http://www.fastmr.com/catalog/product.aspx?productid=1305...

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets.  BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports.  Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports.  View more research from Business Monitor International at http://www.fastmr.com/catalog/publishers.aspx?pubid=1010

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
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