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Reading: MENA region tourism expected to return to pre-COVID-19 levels by 2023: IIF
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Dailynewsegypt > Blog > Business > Tourism > MENA region tourism expected to return to pre-COVID-19 levels by 2023: IIF
Tourism

MENA region tourism expected to return to pre-COVID-19 levels by 2023: IIF

Nehal Samir
Last updated: 2021/05/11 at 8:32 PM
By Nehal Samir 3 Min Read
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MENA region tourism expected to return to pre-COVID-19 levels by 2023: IIF
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The Middle East and North Africa (MENA) region is not expected to return to tourism levels of before the novel coronavirus (COVID-19) pandemic until 2023, according to the Institute of International Finance (IIF).

Writing in its latest report, the IIF said that the recovery will be both gradual and limited in scope. It added that tourists from the European Union, the United Kingdom, Russia, and the United States may be enticed by other countries in the Mediterranean region, with low-cost brands. Tourists may also prefer to continue to focus more on domestic trips or nature in countries where they reside.

“Downside risks to a projected strong recovery in tourism in 2022 include virus mutations and slow vaccine rollout, except Morocco,” the IIF report noted, “Egypt, Jordan, Tunisia, and Lebanon could face repeated outbreaks before vaccines become widely available, limiting the chance of herd immunity before the end of 2022.” 

It added that, conversely, speedier vaccine delivery and distribution could accelerate the move to a post-pandemic world.  

The IIF said that the outlook for tourism to the region remains bleak, with the five tourism-dependent MENA economies to suffer much longer from the negative impacts of the pandemic than the six GCC countries.

The report noted that, before the pandemic hit, tourism contributed directly and indirectly to more than 15% of GDP and 35% of foreign exchange earnings in Jordan, Lebanon, Egypt, Morocco, and Tunisia. On average, tourist receipts fell by 75% in 2020, compared with the previous year.

According to the IIF, partial information for the first quarter (Q1) of 2021 shows that the number of tourist arrivals to the MENA countries stood at just 25% of what they were in Q1 of 2020. Recent increases in COVID-19 cases in key source markets, including the EU, will delay the partial recovery to the second half (H2) of this year.

The report said that the speed of recovery will depend on the progress made in vaccination and quality of healthcare systems. 

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Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
TikTok updates its community guidelines
Business
Strong representation of women in TV series of Ramadan 2023
Strong representation of women in TV series of Ramadan 2023
Culture Cinema
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
Business
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
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