Egypt hopes to welcome 30 million tourists by 2031; the target was part of a government strategy to increase foreign direct investment, which was reviewed at a meeting chaired by Prime Minister Mostafa Madbouly, reported Daily News Egypt.
Sherif Fathy, Minister of Tourism and Antiquities, said a unit is being formed to monitor investment opportunities with the goal of creating an investment opportunities bank to present available projects in the sector. The minister clarified that achieving the tourist arrival target is linked to expanding hotel capacity. In 2024, hotel capacity grew by an additional 7,200 rooms, 55 per cent of which were new, the minister said. Around 19,000 new hotel rooms are expected to be added in 2025. The plan also calls for investment in tourist restaurants, cafeterias and the preservation and restoration of antiquities. The minister reviewed the targeted investment plan for 2025 to 2031, which covers hotel rooms, restaurants, safaris, camps, and theme parks across Egypt’s governorates. It also includes investment in the rehabilitation and reuse of archaeological sites and museums through public-private partnerships. Hassan El-Khatib, Minister of Investment and Foreign Trade, said the meeting was the third in a series to discuss sectoral investment targets within the state’s unified national investment strategy.