Egypt’s tourism sector continues to lure private investors despite economic difficulties


Al-Monitor Pro Members


Marc Español 

Journalist covering Egypt and Sudan


May 26, 2023

Bottom Line:

On May 15, hospitality giant IHG Hotels & Resorts announced that it will expand its portfolio in Egypt with the construction of two new hotels in western Cairo scheduled to open doors in 2026 and 2028. The move by the British multinational, one of the world’s leading hotel companies, adds to those of other major chains such as Accor, Marriott and Hilton, and reflects the promising growth prospects that the private sector anticipates in the country’s tourism industry. These opportunities are now set to increase following the government’s renewed bid to double the number of annual visitors from pre-pandemic levels and nearly triple annual tourism revenues to $30 billion by 2028, up from $12.2 billion in 2022.

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