Egypt Today: Egypt’s tourism industry has witnessed remarkable growth over the past decade, with revenues more than doubling from $7.2 billion in 2014 to $15.3 billion in 2024, according to a recent government report.
The number of international visitors has also seen a significant rise of 59.6 percent, jumping from 9.9 million tourists in 2014 to 15.8 million in 2024.
Looking ahead, Egypt has set an ambitious goal of attracting 30 million tourists by 2032, positioning itself as a leading global travel destination.
Tourism continues to be a key driver of economic growth, contributing to an 8.2 percent increase in the first quarter of the current fiscal year.
This was previously highlighted by Rania Al-Mashat, Minister of Planning and International Cooperation, emphasizing the sector’s role in supporting Egypt’s broader economic development plans.
As part of its National Tourism Strategy, Egypt has introduced various investment incentives to boost the industry.
One of the most notable initiatives was launched in October 2024 by the Central Bank of Egypt (CBE), in collaboration with the Ministry of Finance and the Ministry of Tourism and Antiquities.
This initiative provides LE 50 billion in financial support to enhance tourism-related projects and infrastructure.
To further streamline investment opportunities, the government is working on establishing an Investment Opportunities Bank, which will compile a comprehensive tourism investment map.
This initiative aims to promote investment opportunities both locally and internationally, ensuring sustainable growth within the sector. As of January 2025, a total of 156 tourism investment opportunities had already been listed.
Egypt is actively diversifying its tourism offerings to attract a broader range of travelers. One of the key focus areas is Nile tourism, where plans are underway to increase the floating hotel capacity to 25,000 rooms by 2030.
Additionally, efforts are being made to revitalize inactive floating hotels, further expanding accommodation options for visitors.
In the field of medical tourism, Egypt took a significant step forward in January 2024 by signing an agreement to establish its first medical and wellness resort, Naya Health Resort.
Regarding yacht tourism, the country has introduced a unified digital platform that significantly reduces the approval process for yacht visits.
Previously, securing approval took 15 to 30 days, but with this new system, approvals are granted within just 30 minutes.
Furthermore, Egypt has extended the allowed stay for yacht visitors from one month to three months, making the country a more attractive destination for luxury maritime travelers.
https://www.egypttoday.com/Article/3/138149/Egypt%E2%80%99s-tourism-revenues-raise-to-15-3-billion-in-2024
