Tourism is one of the factors that contributes to Egypt’s foreign currency resources. Therefore, Egypt is set to boost the number of tourist arrivals to reach 30 million per year by 2028, with the number expected to hit 15 million by the end of 2023, Minister of Tourism and Antiquities Ahmed Issa announced in a statement in October. The Egyptian government is working on flourishing the tourism sector and adding to it. As a result, the country has established the Grand Egyptian Museum (GEM) in Giza, one of Egypt's highly anticipated cultural attractions that is set to showcase the country's most impressive archaeological treasure.

The Development of GEM

The GEM is expected to officially open its doors during the first half (H1) of 2024, Minister of Tourism Ahmed Issa stated earlier in November on the sidelines of the World Travel Market exhibition held in London. However, the museum has been open for trial visits since February.

The museum will be among the world’s largest archaeological projects, as well as the largest museum worldwide dedicated to one civilization, according to the State Information Service website. The GEM will include 100,000 artifacts, ranging from ancient Egypt to Greco-Roman Egypt. The artifacts will include 20,000 items that have never been seen before and will be displayed for the first time, according to Al Ain News.

In 2020, former Minister of Tourism and Antiquities Khaled Al-Anani revealed that the total cost of establishing the GEM in the Pyramids Plateau region amounted to $1 billion. The museum also marks a significant symbol of bilateral cooperation between Japan and Egypt, as the Japan International Cooperation Agency (JICA) provided financial support in the form of two development loans totaling around $800 million, as per the State Information Center.

The GEM is hosting the highly acclaimed Tutankhamun – The Immersive Exhibition this month, in partnership with Madrid Artes Digitales. This coincides with the discovery of King Tutankhamun’s tomb more than a century ago. The exhibit uses state-of-the-art projection technology to give visitors the experience of King Tutankhamun, stepping them into an outstanding audiovisual journey across time that goes back over 3,400 years of history.

The location of the new museum is exceptional for being too close to the Pyramids of Giza, including the Great Pyramid, the sole remaining of the Seven Wonders of the Ancient World, according to National Geographic.

Tourism Boosts Economic Growth

Tourism revenues rose by 27% year on year (YoY) to $13.6 billion in fiscal year (FY) 2022/2023, compared to about $10.7 billion, according to the Central Bank of Egypt’s (CBE) Balance of Payments report.

Moreover, the tourism sector made up 14% of Egypt’s total revenues from foreign currency resources in FY 2022/2023, the Information and Decision Support Center (IDSC) highlighted in a booklet as a response to investors' most prominent inquiries.

The Egyptian tourism industry is expected to witness more growth thanks to the establishment of new attractions like the GEM, as it is one of the key contributors to gross domestic product (GDP). "The opening of the GEM has multitudes of touristic economic returns for Egypt," Heba Salah, Economic Expert and Public Policy Analyst at the IDSC, tells Arab Finance.

This comes as the museum will increase the number of tourists seeking archeology. “In addition, it will contribute to promoting conference tourism in Egypt, as it represents," Salah points out.

Hence, the museum will attract “conference tourism” visitors as “it represents a hub for international conferences, including a conference hall with a capacity of up to 1,000 people,” Salah explains, noting that “this hub also contains theater and open areas available to hold festivals, concerts, ceremonies, events, and recreational activities in Egypt, hosted by the Great Pyramids and the GEM.”

Non-Egyptians have already shown interest in visiting the grand museum. Malobika Biswas, a history teacher from India, tells Arab Finance: “I am excited about this new museum. As a student of history, it is my dream to visit the land of pyramids.” Meanwhile, Bratati Hore, a university professor from India, says, “I am very interested in visiting it.”

The GEM is a great experience for the tourism sector, and replicating it could bear economic fruits. Salah explains that “establishing museums on the same scale in other governorates can play a substantial role in increasing tourism demand and promoting the tourism sector in Egypt.”

She clarifies that such museums will “bolster leisure tourism as a source of entertainment for all ages, promote tourism marketing by reinforcing the positive image of Egypt as a preferable tourist destination, and enhance tourism activity as well as direct economic impacts through increasing the purchase of products and services and creating job opportunities which can contribute to promoting cultural tourism and the whole tourism sector in Egypt.”

By using cutting-edge technology and displaying many remarkable artifacts, the GEM will showcase the Egyptian civilization throughout history. As the world’s largest museum dedicated to a single civilization, the GEM is believed to attract more tourists, boosting tourism economic returns.

By Sarah Samir

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