Egyptian Minister of Tourism: Emirati investments in the tourism sector
Dubai, April 28 / WAM / His Excellency Sharif Fathi, the Egyptian Minister of Tourism, confirmed that the Emirati investments in the Egyptian tourism sector are a successful model for the partnership between the government and private sectors in both countries.
He pointed out that modern investments, especially the Ras Al -Hikma project, represent an important addition in addition to the existing investments, stressing that these partnerships reflect great confidence in the Egyptian tourist market.
His Excellency said in statements to the Emirates News Agency “WAM” on the sidelines of the activities of the Arab Travel Market Exhibition in Dubai that the tourism sector in Egypt recorded a good performance during the year 2024, achieving a growth rate of about 6%, as the number of tourists reached about 15.8 million tourists, despite the challenges that the region witnessed during the past year, adding that the performance of the Egyptian tourism sector was positive in view of the regional conditions while Egypt aims to achieve a higher growth rate during a year 2025.
His Excellency added that the first three months of this year witnessed 25% growth compared to the same period last year, considering that this increase represents an extension of the positive performance recorded during the last quarter of 2024, pointing out that the ministry’s expectations indicate a total growth rate for the current year ranging between 8 and 9%.
The Egyptian Minister of Tourism indicated that the government is currently working to facilitate tourism investment procedures, not only for huge projects such as the Ras Al -Hikma project, but also for investors wishing to create small hotels or “hatels” in archaeological and historical areas.
In this context, His Excellency revealed an ambitious project that the ministry is currently working on under the name “Bank of Investment Opportunities in the Tourism Sector”, a project aimed at collecting all the tourism investment opportunities available in Egypt under one umbrella, regardless of the state or land ownership.
He explained that this bank will include all investment opportunities, whether they are lands owned by governorates, for the tourism development authority or other government agencies, so that investors are dealt with through one party to facilitate and accelerate procedures.
He explained that the idea aims to change the traditional view of real estate investments, and the clear distinction between real estate and tourism development, saying: We seek to consolidate the concept of real tourism investment, and not just real estate development.
And on the mechanism of the work of the “Investment Opportunities Bank”, His Excellency explained that the investor will be able to see all the opportunities available through a unified contact, and know the details of each project, its own conditions, and the incentive programs available to it, indicating that the ministry is working to complete the legal and technical aspects of the project, expressing his hope to officially launch the bank before the end of this year.
With regard to new projects, His Excellency revealed a project to develop the tourist pyramids area, where a major plan is currently being prepared through specialized international companies, to determine the areas allocated to hotel and tourism investments, with a complete commitment to maintaining the visual vision of the archaeological site of the pyramids.
His Excellency stressed that Egyptian tourism is moving steadily towards enhancing its contribution to the national economy, supported by qualitative projects, flexible investment policies, and strong international partnerships, while preserving the unique cultural and historical heritage that Egypt enjoys.
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