RIYADH: More than 48,000 hotel rooms are set to be added to Egypt’s hospitality industry as part of 84 investment opportunities unveiled by the General Authority for Tourism Development.
The expansion, which will also see an additional 15,000 suites from currently approved requests, marks a strategic effort to accommodate the growing number of tourists and enhance the overall capacity of the sector, which has long been a cornerstone of Egypt's economy.
During a high-level meeting at the government’s New Alamein headquarters, Prime Minister Mostafa Madbouly reviewed a comprehensive tourism investment map, highlighting key opportunities across the country.
The gathering underscored the government’s vision to elevate Egypt’s tourism profile by capitalizing on the country’s diverse landscapes, rich cultural heritage, and strategic geographic location, positioning it as a gateway between Africa, the Middle East, and Europe.
In 2023, the tourism sector accounted for around 24 percent of the country’s GDP, amounting to 953 billion Egyptian pounds ($30.83 billion), and is set to continue playing a key role as Egypt tackles challenging economic conditions, including a currency devaluation in March.
The prime minister’s spokesman, Mohamed El-Homsany, emphasized that the primary focus of the meeting was the North Coast, a region with considerable untapped potential.
Known for its Mediterranean beaches and moderate climate, the area is being positioned as a premier tourism destination, with plans to increase the number of hotels – specifically emphasizing luxury and eco-friendly resorts that cater to international tourists and the growing domestic travel market.
A key highlight of the development plan is the proposal to create a series of artificial lakes south of the coastal road, transforming the landscape into a new hub for high-end tourism.
The undertaking aims to increase accommodation capacity and create new tourist attractions that diversify Egypt’s appeal beyond its historical sites and beach resorts.
El-Homsany also highlighted that the meeting addressed critical challenges faced by investors in the tourism sector.
These include streamlining the approval process for new projects, enhancing infrastructure such as roads and utilities in emerging tourist areas, and providing incentives for sustainable development practices.
The government has committed to resolving these issues swiftly, recognizing that overcoming these barriers is essential to attracting domestic and international investment.
Further details were provided by the minister of housing, who offered an in-depth overview of the tourism investment map.
This blueprint outlines the distribution of the 84 new opportunities across Egypt’s key tourist regions, including the Red Sea coast, the Mediterranean shoreline, and Upper Egypt, home to iconic archaeological sites such as Luxor and Aswan.
