Minister of Tourism and Antiquities Ahmed Eissa asserted the ministry will complete the final touches of new incentives for investors to build hotel projects in February.

This incentive package has been recently announced at a cabinet’s meeting in cooperation with the Ministry of Finance and will be sent to Egyptian banks to start implementation.

Eissa told MENA on Saturday 27/01/2024 that such incentives are aiming to scale up the rapid growth of hotel capacity in the country and stimulate investors who will participate in building or operating these new hotel facilities at the start of 2026.

Egypt’s quota of world tourism movement witnessed a growth of 33% in 2023, compared to 2019, according to him.

The minister mentioned that Egypt had 220,000 hotel rooms in 2023, which, is achieving goals of 2024.

Source: State Information Service Egypt