Tourism Sector
The funding aims to accelerate investments in construction and finishing efforts and is subject to prior approval from the Ministry of Tourism and Antiquities
Cairo's tourism and hospitality sector is being strengthened through cross-border collaborations, an increase in foreign direct investment (FDI), and a LE 50 billion initiative to enhance tourism.
The Ministry implemented measures to streamline and expedite procedures for the arrival and departure of foreign yachts from tourist ports and marinas situated along Egypt's coastlines
Furthermore, this expansion is expected to create approximately 45,000 new direct and indirect job opportunities, providing a much-needed boost to the labor market
Tourism minister also highlighted the significant growth opportunities within Egypt's tourism sector especially the hotel industry, which will contribute to achieving the target of having 400,000 hotel rooms by the end of 2028
The digital window then automatically sends the information to the concerned authorities to review the required data, documents and interviews and send their approvals to the official window website to issue the approval within 30 minutes.
Prime Minister Mustafa Madbouli said Wednesday that Egypt plans that the private sector takes the helm of the tourism sector, and work on overcoming all current challenges.
Egypt’s Minister of Tourism and Antiquities Khaled el-Enani convened on Thursday with Resident Coordinator of the United Nations in Egypt Elena Panova, who recently assumed office.
CBE stated in its periodic book on Wednesday, that it decided to extend the period of validity of the initiative until the end of December 2021 (instead of June 2021), or to exhaust the amount allocated to it by LE 3 billion, whichever comes first.
This initiative included the allocation of EGP 50 billion to revamp hotels, tourism institutions and the fleets of tourism transport, as well as a sum of EGP 3 billion to fund wages and maintenance costs.
The statement highlighted the importance of answering all tourism sector clients' inquires, as well as sending them monthly statements related to any floated initiative.
CBE clarified that the total tourism revenues jumped 67 percent to reach $13.03 billion in 2019, compared to $7.8 billion in 2017, $2.5 billion in 2016 and $6.1 billion in 2015.
Egypt has unearthed many archaeological discoveries, yet there is much more to be uncovered which gives a boost to the tourism sector.
Mashat affirmed the importance of Italy’s market as one of the most significant tourism sources for Egypt.
Egypt, among 165 countries, will participate in the International Tourism Fair Fitur, which will kick off at Feria de Madrid in Ifema
Catalonia’s independence push is taking its toll on the region’s tourism industry, with revenues and hotel bookings down since October 1 secession referendum.
Egyptian tour guides are the best in the world according to the evaluations of international tourism organizations and internationally approved performance reports”
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