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Tourism in Egypt Predicted to Return to Pre-Pandemic Levels by 2023

American credit rating agency S&P Global Ratings anticipates that Egypt will enjoy higher tourism levels, alongside gradual economic growth.

American credit rating agency S&P Global Ratings has released a report which predicts that tourism in Egypt will return to pre-pandemic levels by 2023. The statement was part of a larger sovereign credit ratings report that gave Egypt a stable 'B' grade, a relatively positive assessment given the effects of COVID-19 restrictions on Egyptian business and tourism.

While S&P claims that debt metrics may get worse before they get better, their report praises Egypt's strong portfolio investment and foreign reserves, and anticipates economic growth rate to increase by 5.3% between 2022 and 2024.