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Egypt's economy is facing multiple pressures such as an increasing burden of foreign debt and a shortage of foreign exchange. The Egypt government has said it will strongly support the development of tourism, more than doubling the current number of hotel rooms by 2030 to attract more tourists.
The Egypt government recently announced more than $1 billion in financial subsidies for tourism, with the aim of adding 250,000 new hotel rooms to the existing 220,000 by 2030. Egypt's tourism sector estimates that every 15,000 additional hotel rooms could generate $1.5 billion in annual revenue and create a large number of jobs.
Nassar, former board member of the Egypt Hotel Association: We need to do a good job of researching where to build new hotel rooms to create demand and at the same time develop new tourist attractions.
In addition to neighboring countries, Egypt's tourism industry is also trying to attract Chinese tourists. Egypt's Minister of Tourism and Antiquities previously said that it hopes to achieve the goal of receiving 3 million Chinese tourists a year by 2028.
Salvat, head of a tourism company in Egypt: It is not enough to have 300,000 to 400,000 Chinese tourists to Egypt, we need to attract more Chinese tourists.
Egypt's Ministry of Tourism and Antiquities announced in July that tourism revenue reached $6.6 billion in the first half of 2024, exceeding the $6.3 billion in the same period in 2023, and the number of inbound tourists reached a record high of 7.069 million. The Egypt government says it hopes to increase annual tourist arrivals from 14 million in 2023 to more than 30 million by 2030 through measures such as expanding hotels and increasing air routes and seats on inbound flights.
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Editor: Dong Lindan