Egypt Launches EGP 50 Billion Initiative to Boost Hotel Capacity

The Egyptian government has agreed to a EGP 50 billion initiative aimed at revitalizing the country’s tourism sector through an expansion of hotel capacity. The funding will be allocated to the construction and operation of new hotels, the expansion of existing facilities, and the conversion of unoccupied buildings into hotel accommodations.

Projected to bring in USD 1-2 billion in revenues (excluding taxes), the initiative is part of the Ministry of Tourism and Antiquities’ broader goal of attracting 30 million tourists annually. To achieve this, the government aims to increase Egypt's hotel room capacity by 240,000–250,000 units.

The initiative prioritizes hotel development in key tourism destinations, including Luxor, Aswan, Greater Cairo, the Red Sea, South Sinai, Sharm El-Sheikh, Taba, Nuweiba, and Dahab.