Egypt’s newly appointed Tourism and Antiquities Minister, Sherif Fathy, introduced a comprehensive plan to expand the country’s hotel capacity in anticipation of the surge in tourist arrivals. According to the Ministry of Tourism and Antiquities, Egypt welcomed 7.069 million tourists between January and June 2024, generating a revenue of USD 6.6 billion (EGP 316.8 billion), as opposed to 7.062 million tourists visited Egypt in the same period of 2023, generating a revenue of USD 6.3 billion (EGP 302.4 billion). Egypt plans to reach 30 million tourists by the end of 2024, Fathy reported, which is a massive leap from 14.9 million tourists who visited Egypt in 2023, representing an annual increase of 27 percent. The hotel expansion agenda outlined a series of initiatives to boost the nation’s tourism and antiquities sector, starting with expanding hotels in key tourist destinations, such as Cairo, Luxor, Aswan, the Red Sea, South Sinai, and the North Coast. During the first quarter of 2024, 4,012 hotel rooms, both conventional and floating, were added, bringing the overall count to 222,716. The additions include 1,503 rooms across 11 newly launched hotels, 1,264 additional rooms in existing hotel…
