Twenty million tourists are expected to visit Egypt in 2020, the statement added, which was published in Reuter's Aswat Masryia.
Egypt’s tourism sector has seen a relative recovery in the past year, after the country was hit hard by protests and regime change in 2011 and again in 2013.
The sector has been making a gradual recovery, with Egypt receiving 9.9 million tourists in 2014, up from 9.5 million in 2013.
Last week, Khaled Ramy announced that Egypt welcomed the news that there were three percent more tourists in the first quarter of 2015 than in the same period of the previous year, while hotel reservations for the summer season were up 15% compared to the previous year.
The tourism sector, which contributes to 3.1 percent of Egypt's gross domestic product, is one of the country's most important sources of vital foreign currency.
Egypt estimated that its revenues from tourism will increase reaching $26 billion by 2020, the minister of tourism, Khaled Ramy, said in a press statement on Tuesday.