Egypt’s General Authority for Tourism Development has announced 84 new investment opportunities aimed at adding over 48,000 hotel rooms to the country’s hospitality sector. This initiative also includes 15,000 additional suites from currently approved projects, reflecting a significant push to expand the sector’s capacity and cater to the increasing influx of tourists.

During a high-profile meeting at New Alamein, Prime Minister Mostafa Madbouly reviewed a detailed tourism investment map, spotlighting key opportunities nationwide. The government’s strategy is to enhance Egypt’s tourism profile by leveraging its diverse landscapes, cultural heritage, and strategic location bridging Africa, the Middle East, and Europe.

In 2023, tourism contributed approximately 24% to Egypt’s GDP, totaling 953 billion Egyptian pounds ($30.83 billion). Despite facing economic challenges, including a recent currency devaluation, the sector remains pivotal to the country’s economic health.

The North Coast emerged as a primary focus during the meeting, praised for its Mediterranean beaches and temperate climate. Plans include boosting the number of hotels, with an emphasis on luxury and eco-friendly resorts to attract both international visitors and the growing domestic travel market.

A notable aspect of the development plan is the creation of artificial lakes south of the coastal road, designed to become a new high-end tourism hub. This initiative aims to enhance accommodation capacity and diversify Egypt’s tourist offerings beyond historical sites and beach resorts.

Prime Minister Madbouly’s spokesman, Mohamed El-Homsany, also addressed challenges faced by investors, including streamlining approval processes, improving infrastructure, and incentivizing sustainable development. The government is committed to resolving these issues to foster domestic and international investment.