Egypt announces new tourism project on Mediterranean coast
Release time:
2024-07-08 04:32
Source Event Xinhua Finance
Egyptian Prime Minister Mustafa Madbouli announced at a press conference held in the new administrative capital of Egypt on the 2nd that a tourism project called "Southern Mediterranean" will be launched on the Mediterranean coast of Egypt, with an investment of 1 trillion Egyptian pounds (About 20.76 billion US dollars). The new project is expected to generate sales of 1.6 trillion Egyptian pounds and create 1.6 million direct jobs through construction-related industries.
The Southern Mediterranean project will be implemented in partnership with the private sector, in conjunction with projects already in place and under way in this promising region to achieve goals such as doubling the number of tourists by 2030.
"We are keen to make Egypt's north coast (Mediterranean coast) a compelling tourist destination to maximize tourism, offering a large number of hotels and tourist rooms in the region," Madbouli said."
Madbouli said that the state seeks to provide more employment opportunities for young people on the north coast, encouraging and attracting many of them to live in the area through the construction of a series of large-scale integrated projects including Alamein New City.
Tourism is one of Egypt's main sources of foreign exchange, contributing about 12% of GDP and providing employment for about 3 million people.
Source Pexels
According to Xinhua Finance reporter Zhang Jian, the Egyptian Ministry of Tourism and Cultural Relics announced on the 1st that Egypt's tourism revenue in the first half of 2024 reached 6.6 billion US dollars, exceeding the 6.3 billion US dollars in the same period in 2023.
The Egyptian Ministry of Tourism and Cultural relics said in a statement that the number of tourists to Egypt reached 7.069 million in the first half of 2024, a record high. From January to June this year, the number of overnight tourists in Egypt reached 70.2 million, exceeding the record of 67.6 million in the same period last year.
As part of a national strategy to boost tourism, Egypt is increasing the number of seats on inbound flights and hotel rooms across the country, with a view to reaching the target of receiving 30 million tourists by 2028.
In 2023, Egypt received a record number of 14.9 million tourists. Tourism is one of Egypt's main sources of foreign exchange, contributing about 12% of GDP and providing employment for about 3 million people.
—END—
Related News
2025-11-28
All rights reserved©2024 China-Africa TEDA Investment Co., Ltd.
