Egypt Aims for 30 Million Tourists by 2028

Egypt Aims for 30 Million Tourists by 2028

– Egypt aims to attract 30 million tourists annually by 2028, with a focus on engaging GCC investors to fund tourism projects.

– Initiatives include revitalizing tourism developments in key destinations like Luxor, Aswan, and the South Sinai region, alongside efforts to enhance infrastructure along the North Coast.

– Ghada Shalaby, Vice Minister for Tourism, highlights measures such as doubling room inventory, offering incentives like golden licenses, and securing financial support packages to facilitate foreign direct investment in Egypt’s tourism sector.

Egypt sets ambitious goal of 30 million tourists by 2028, seeking GCC investments for tourism development.

In a bid to significantly boost its tourism sector, Egypt has announced an ambitious target of attracting 30 million tourists annually by 2028. This announcement was made by Ghada Shalaby, Vice Minister for Tourism at the Ministry of Tourism and Antiquities, during the Arabian Travel Market exhibition. 

Shalaby emphasized the government’s proactive approach in engaging investors from the Gulf Cooperation Council (GCC) region to fund tourism projects across the country.

“We have set a target to hit 30 million tourists by 2028, and we are actively meeting with investors from this region to fund more tourism developments in select areas of the country,” stated Ghada Shalaby. She highlighted the attractiveness of projects in the South Sinai region, particularly for investors, and expressed the government’s commitment to further develop these areas.

Egypt’s focus on attracting GCC investments extends to popular tourist destinations such as Luxor and Aswan as well. The government aims to revitalize tourism developments in these areas, which were previously stalled due to financial constraints and geopolitical tensions in the region.

Ghada Shalaby reiterated Egypt’s eagerness to welcome increased investments from the GCC to foster growth in its tourism sector. The country is particularly keen on enhancing infrastructure and facilities along the North Coast and in the South Sinai region to cater to the growing number of visitors.

The announcement comes amidst positive economic indicators for Egypt, including a recent revision of its outlook from stable to positive by Fitch Ratings. This revision reflects the country’s strengthened foreign direct investment (FDI) and increased foreign capital influx.

Egypt’s tourism sector received a significant boost earlier this year with the conclusion of the $35 billion Ras Al Hekma deal led by ADQ, an Abu Dhabi-based investment and holding company.

Additionally, an expanded $8 billion financial support package from the International Monetary Fund (IMF) further bolstered confidence in the country’s economic prospects.

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