Business travel recovers as international visitors and investment return
Businesses spent less than US$3 billion (48 billon Egyptian pounds) on travel in Egypt in 2017. But spending growth is strong, averaging more than 17% annually between 2012 and 2017, according to BCD Travel analysis of Oxford Economics data. The market is volatile, as evidenced by the 76% year-over-year rise in business travel spending reported in 2017. Domestic trips account for 48% of all spending; inbound trips made up 46% of spending. Egypt’s economy emerged from a slowdown triggered by 2011’s “Arab Spring” and has been expanding since 2016. Economists expect corporate travel spending to keep growing, too—predicting 15% growth per year through 2022. Outbound trips will expand most, growing by 26% per year, but they’ll still make up just 9% of all business travel spending by 2022.
