A Working Luncheon In Honour of H.E. Sherif Fathy, Minister of Tourism & Antiquities on “Egypt.. Unmatched Diversity”

Cairo, December 17, 2024: The British Egyptian Business Association (BEBA) has organised a working luncheon in honour of H.E. Sherif Fathy, Egyptian Minister of Tourism and Antiquities, at Conrad Cairo Hotel. 

H.E. Minister Fathy delivered a speech, underscoring Egypt’s extraordinary tourism potential, blessed with diverse attractions that include a rich cultural heritage, prime geographical location, pristine beaches, expansive deserts, and ancient archaeological treasures. This diversity, he e xplained, shapes the Ministry’s vision of positioning Egypt as the world’s leading destination for varied tourism experiences.

Enhancing Tourism Products and Services

Minister Fathy noted that while some tourism products are market-ready, others are under development to expand the options available to international tour operators. He emphasised ongoing collaboration with the Egyptian Tourism Federation, the five tourism chambers, and private sector stakeholders to prioritise initiatives that enhance the sector’s growth.

The minister detailed plans for improving the visitor experience at museums and archaeological sites, including a major development project at the Giza Pyramids area. These upgrades will feature entertainment zones with restaurants, cafes, and bazaars, as well as dedicated paths for camels and horses to ensure proper treatment of animals and a pleasant experience for visitors.

He also referred to strategic initiatives aimed at enhancing Egypt’s tourism sector by tapping into new markets and increasing domestic flights to key tourist destinations. The minister highlighted recent enhancements to the booking system, enabling travelers to search for flights to Cairo more conveniently. This upgrade is expected to streamline travel and attract more inbound tourists to Egypt.

Digital Innovation and Collaboration

The minister underscored the critical role of digital tourism marketing in advancing Egypt’s tourism industry, emphasising the strategic use of artificial intelligence tools and applications. These technologies are particularly vital for enhancing promotional efforts and precisely targeting specific tourist segments across various international markets.

The Minister further highlighted the importance of ongoing collaboration, mentioning the regular meetings with representatives from the Egyptian Tourism Federation, the five tourism chambers, and private sector stakeholders. These sessions serve as a platform to gather valuable insights, prioritise initiatives, and drive collective efforts to elevate Egypt’s tourism industry to new heights.

Fostering PPP

The ministry remains committed to forming partnerships with the private sector to elevate service quality at tourism sites, he noted. These partnerships will focus on service operations while leaving archaeological management under the exclusive authority of the Supreme Council of Antiquities.

Driving Tourism Investment

A discussion moderated by Maged El Menshawy, Chairman of the Holding Company for Tourism and Hotels, explored key opportunities for tourism investment in Egypt, particularly in the hospitality sector. Minister Fathy highlighted the country’s financial incentives and initiatives to increase hotel room capacity and develop innovative accommodation options.

More Focus on Sustainability and Awareness

The Egyptian minister also mentioned the ongoing finalisation of regulations for new accommodation units, ensuring they meet stringent quality, security, and safety standards.

The discussion addressed pressing topics such as eco-tourism development, sustainability in the tourism and antiquities sectors, and raising public awareness about the industry’s vital role in Egypt’s economy.

Tourism Performance Forecasts

Minister Fathy said Egypt is projected to welcome approximately 15.3 million tourists by the end of 2025. He highlighted a potential 10% growth in inbound tourism over the next two years, despite describing the current period as a stagnation phase yet to be fully resolved.

He emphasised that the growth of Egypt’s tourism sector hinges on several factors, including the availability of hotel accommodations and broader economic developments both domestically and globally.

He explained that the country’s tourism projections are based on a combination of growth patterns: three years of single-digit growth followed by two years of double-digit growth, which means 10% or more. Some years may see growth below 10%, depending on factors such as the number of available hotel rooms and economic developments both within Egypt and globally.

Minister Fathy pointed out that this year’s initial forecast predicted growth rates between 9% and 11%, but due to the surrounding circumstances, it was revised downward to 5%. He assured that the ministry will continue to monitor developments and update forecasts regularly to adapt to changing conditions.

Foreign Direct Investment (FDI) Strategy

Addressing foreign direct investment (FDI), Minister Fathy outlined three essential principles for improvement:

1. Transparency: Publishing investment opportunities with clear and precise conditions.
2. Competitiveness: Ensuring that fees and investment structures are attractive and competitive.
3. Efficiency: Prioritising speed in approvals, resolving challenges, and providing necessary facilitation.

He emphasised the government’s commitment to these principles, adding that efforts are underway to publish comprehensive and straightforward information on a centralised platform. This initiative aims to streamline processes and attract more investment. Minister Fathy reaffirmed that the ministry will persist in these efforts until these goals are achieved.