Wednesday, May 22, 2024 In 2024, MENA travelers increasingly favor local destinations and strategic spending, reflecting a budget-conscious approach amidst tightening economic conditions. In 2024, travelers from the MENA (Middle East and North Africa) region are refining their travel habits, focusing more on strategic, budget-conscious decisions. With the high costs of travel in North America, these travelers are opting to spend their travel funds within their own region.
Notably, there has been a two-percentage-point rise in regional lodging expenditures compared to five years ago, reflecting a broader trend of budget-savvy travel behaviors. This shift in spending patterns is also evident in shopping habits, particularly for tourism-related apparel. Data from the Mastercard Economics Institute highlights a significant increase, with a 10% rise in apparel spending within the Middle East, suggesting a preference for regional shopping over international splurges.
Turning to Egypt, the nation stands at the cusp of a tourism revival, thanks to the devaluation of the Egyptian pound by over 60%. Similar trends have been observed in other regions like Japan and Argentina, where currency devaluation has correlated with increased tourism. This economic adjustment might make Egypt a more attractive destination for budget-conscious travelers in the upcoming year.
Moreover, the travel industry is keenly anticipating 2027, when a total solar eclipse is expected to occur over Egypt’s ico.
