Egypt will inaugurate the $1 billion Grand Egyptian Museum (GEM) on July 3rd, marking the completion of a nearly two-decade project expected to bolster the country’s vital tourism sector.

Egypt achieved record tourism rates in 2024, with 15.78 million tourists arriving.

Egyptian Prime Minister Mostafa Madbouly confirmed that no coastal tourism project will be allowed to operate in the coming period unless the hotel component is completed, not just the real estate section.

Al Masar Tourism Development (not sure of the name) intends to invest about EGP 2.5 billion to renovate the Holy Family Path.

Egypt aims to achieve an annual increase between 5 and 6% in the number of tourists by 2028, with expectations of double-digit growth in subsequent years.

The Egyptian government is considering the launch of a new initiative to support the tourism sector, with financings to be directed to new hotel establishments.

The International Finance Corporation (IFC) is supporting Orascom Development Egypt (ODE) with a sustainability-linked loan (SLL) of $155 million to enhance energy and water efficiency and reduce greenhouse gas (GHG) emissions in hotels in El Gouna on the Red Sea.

Instagram by Meta has launched a world-first digital experience, using augmented reality (AR) to revive Egypt’s ancient history.

The Egyptian Ministers of Finance and Tourism and Antiquities unveiled an initiative to bolster the tourism sector with EGP 50 billion in financing facilities, aiming to increase hotel room capacity in high-priority areas such as Luxor, Aswan, Greater Cairo, the Red Sea, and South Sinai.

The Minister of Tourism and Antiquities Sherif Fathy has met with the Chairman of Saudi AROYA Cruises Joerg Rudolph and his accompanying delegation to probe cooperation in cruise tourism.

In today's interconnected world, the hospitality sector has become a cornerstone of economic development. Beyond lodging and dining services, this industry plays a pivotal role in driving economic growth, creating jobs, and supporting other sectors. From bustling metropolises to serene coastal destinations, hotel businesses contribute significantly to local economies and global tourism. For Egypt, attracting investments and promoting the hospitality sector is essential to meet increasing demand and contribute to sustainable economic development.

The Central Bank of Egypt (CBE) has issued regulations governing the tourism support initiative approved by the Cabinet and financed by the Ministry of Finance.

The Egyptian government is set to announce plans for the construction of 1,000 hotel rooms in the archaeological area of Farma and two adjacent locations in Port Said Governorate, with estimated investments exceeding EGP 1 billion, unnamed government sources told Al Arabiya Business.

Egypt has sealed hedging contracts for a substantial volume of imported petroleum products, Prime Minister Moustafa Madbouly said in a press conference.

Orascom Development Holding, owned by Egyptian billionaire Samih Sawiris, has signed a binding agreement to sell its 73%-owned subsidiary RAK Tourism Investments in the UAE for about $40 million.