Egypt recently agreed an eye-watering $35 billion deal with the United Arab Emirates (UAE) to develop the Mediterranean coast.
The country is positioning itself as a premier destination in the Middle East and North African (MENA) region, marking a new era for the nation’s tourism and hospitality industry.
With global entertainment such as Wynn Resorts making forays into neighbouring markets, there is every likelihood they will consider moving into Egypt.
Egypt’s Tourism Ambitions & Government Initiatives
The Egyptian government has designed this new initiative to increase the country’s hospitality and tourist infrastructure.
They will offer reduced interest rates to companies and use the initiative to create jobs. Policymakers believe the scheme will turn Egypt into a leading destination while invigorating the economy.
The UAE recently committed $35bn to develop Egypt’s Mediterranean coast, including the South Med project.
The investment aims to transform the North Coast into a global destination with 2,000 hotel rooms, residential units and an international marina.
The scale and scope of this development highlight the UAE’s confidence in Egypt as a premier tourist destination.
Wynn Resorts on a Mission to Expand its Global Footprint
Wynn is building a $4 billion resort in the UAE which will have a massive impact on the tourism and hospitality sector in the country. Other industries will also benefit.
For instance, the sites featured at haz-tayeb.com will likely to be inundated with new customers as visitors seek reliable entertainment activities in the region.
Wynn has shown they can develop world-class experiences that appeal to a global audience and it would be no surprise if they view Egypt as a potential target market.
Egypt boasts a rich cultural heritage and an excellent location, budding with infrastructural developments designed to modernise and innovate.
The country’s plans, policies and investments create an appealing environment for Wynn and other entertainment giants looking to make headway in the region.
Egypt is Becoming Increasingly Popular with Tourists
Egypt has many attractions, making it a standout destination in the Mediterranean and Red Sea regions.
European tourists love destinations such as Hurghada and Marsa Alam, and hotels in the region have recorded astonishing occupancy numbers.
Both beach resort towns are favourites for scuba divers, with numerous dive shops and schools lining its modern district.
Amidst global challenges, the Red Sea region continues to record 85-90% hotel occupancy numbers, showing strong demand.
New Alamein City has also emerged as another focal point of recent development. The new city in northwest Egypt includes residential, tourist and educational service projects. Its first phase alone consumed over $4.bn, and several more have been pumped into the city’s development.
Alamein City hotels are constantly at maximum capacity, and its famous festival attracts Arab audiences. The city is a prime example of using cultural and entertainment events to drive tourism.
The city has an international airport. It is also quite close to the country’s main international airport, Borg El Arab International Airport, allowing easy access easy for visitors.
Cultural Diplomacy & Global Outreach
Egypt’s tourism strategy has also involved cultural diplomacy as the country attempts to reach global audiences.
The country recently held exhibitions of ancient artefacts in Shanghai, China – the largest of its kind outside Africa. The showcase provided an overview of early civilisation.
Almost 800 artefacts were on display, with over 95% making their debut in Asia. The showpiece was designed to highlight Egypt’s rich historical legacy and attract Chinese tourists and investors.
Egypt expects this showcase to attract around one million visitors, demonstrating the potential for cultural events to boost tourism and encourage international interest.
As Egypt ramps up its infrastructure, seeking to become a top global destination, the arrival of heavyweight entertainment firms such as Wynn could enhance their appeal.
The country’s growing market, rich cultural heritage and location make it an attractive proposition for international companies.
The investments, government initiatives and cultural outreach undoubtedly present a promising future for Egypt’s tourism and hospitality sectors.
