Billions of dollars, job opportunities and economic recovery.. What is happening in Egypt now and what sector can happen in the Egyptian economy and compensate for the losses in the Suez Canal.. Stay with us until the end and you will know the details and numbers..
One of the advantages of the Egyptian economy and the source of its strength at the same time is that it is an economy with diversified resources and activities. This means that it depends on more than one source of income, trade, export, and the provision of foreign monetary resources to the country. I mean, for example, you have tourism, the Suez Canal, and the export, investments, and remittances of Egyptians abroad…but preferably, tourism is the most important resource of the economy. This is because Egypt has capabilities and opportunities in this sector that make it one of the richest countries in the world, and at the same time guarantees it billions of dollars every year with minimal effort and minimal costs. This is the advantage of the dollar that comes from tourism because it comes In exchange for an available service, this means a dollar in front of a service, unlike the dollar that comes from exports, for example, which costs production, manufacturing, transportation, shipping, and so on. Because of this, there is fierce competition in the global tourism market between countries.
Egypt, of course, has capabilities that are not available in any other country, whether archaeological tourism, which Egypt is distinguished by its international treasures, or entertainment and shopping tourism, or medical tourism, safari, cultural, etc., but its revenues are modest compared to the size of the capabilities and beauty that is in Egypt, and for this reason the government has developed a plan to reach the number of tourists to 30. One million tourists during the year 2030 and achieving more than 30 billion dollars. This is an initial stage, after which a second plan begins to reach 50 billion dollars, and so on. The most important thing in the matter is that Egypt can achieve this. Thanks to its tourism qualifications and modern infrastructure, huge numbers, such as the projects taking place on the northern coast, Ras El Hikma, Ras Pinas, and Ras Jamila, all of which are areas, will open a very large area for the tourism sector.
Dr. Mostafa Madbouly, Prime Minister, held a meeting for hours to follow up on efforts to advance the tourism sector and mechanisms for developing various aspects related to it. The Prime Minister said that the tourism sector is at the forefront of attention of the political leadership and various state agencies and agencies, as it is one of the promising sectors, and that the state’s efforts are continuing to support this. This is an important sector, in order to achieve the goal of 30 million tourists annually.
Madbouly also said that the tourism sector, alongside the industrial, agricultural, communications and information technology sectors, represents a priority for the Egyptian state at the current stage, because these sectors are the ones that will contribute to achieving the plan to increase Egyptian exports, whether goods or services, and thus increase the state’s foreign currency resources.
And not only that, but Dr. Mostafa Madbouly asked businessmen to submit proposals to support investment in increasing hotel rooms, and businessman Hisham Talaat, CEO of Talaat Mostafa Group, suggested, for example, that the state provide land for free in exchange for a percentage of the room’s revenue. This is an innovative idea and will not cost the state. One pound, and at the same time, it will annex the state’s right and grant the land, and at the same time the investor will come to work on his project and pay the state’s right from the revenues. For this reason, Madbouly issued instructions that the Ministry of Tourism be the authority. It is the only one that has the right to grant licenses to investors, and the golden license will be issued for tourism projects, and this will have a very significant impact on tourism investment in the coming months and years.
