Analyzing the Impact of Global Financial and Economic Crises on the Tourism Sector in Egypt

This paper examines the impact of the global financial and economic crisis (GFEC) on the Egyptian tourism demand for the period (2008-2015). To capture the influence of this crisis, a dynamic stimulation model is used to calculate the demand elasticities, and four scenarios (ranging from the most pessimistic to the most optimistic) are created to examine the possible impacts of changes in the sector.
It is presented to model the international tourism demand to Egypt. The model allows for structure instability and therefore is more adaptable in dealing with structural changes especially that tourism demand in Egypt is volatile and sensitive. Due to the difficulty of finding appropriate measures for the explanatory variables in Egypt, most of the variables are used as proxies