Business Today Egypt | October – November 2023, Special Edition

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Tourismand purest ecological coasts and beaches in theworld,” Magdy Sadek, member of the Chamberof Tourism, told Business Today.“Egypt has also provided visa facilities for yachttourism, festivals, and conferences so that anyonewho comes to attend a party or event can obtaina completely free visa,” Sadek commendedthe new measure allowed by the government.Rising from the shores of the Mediterranean,New Alamein City is built over 48,000 acres withinvestments of more than 40 billion EGP. Notonly is it a resort destination, but New Alamein isalso a fully operational year-round city and is positionedas a second administrative capital withheadquarters for the cabinet. During the summer,New Alamein City hosted an entertainmentfestival with a wide range of music, cultural,shopping and sports activities. The festival includedconcerts by international, Egyptian andArab artists such as Russ and Disco Beirut andalso a fashion show by Michael Cinco.Local media reported that the festival hostedmore than a million visitors to New Alamein,in addition to cash flows registered at AlameinAirport as a result of airline tickets booked byexpats.Vice President of the New Alamein AuthorityMohamed Khalil proudly announced that theoccupancy rate in the city of El Alamein reached100% during the Alamein Festival.The Toursim Chamber’s Sadek also shed lighton Egypt’s recently introduced visa option thatfacilitates travel for foreigners interested in visitingthe country. This new visa, known as the fiveyearmultiple entry visa, was announced by theEgyptian Ministry of Interior on June 18. It offersgreater convenience and flexibility for travelersby allowing them to enter Egypt multiple timeswithin a five-year period.To obtain a five-year multiple entry visa, visitorsare required to pay a fee of $700 (equivalentto approximately EGP 21,630). This fee coversthe cost of the visa and the associated administrativeprocesses. With the new visa, holders arepermitted to stay in Egypt for a maximum of 90days per trip.18 November 2023www.businesstodayegypt.com
TourismIdentifying ChallengesWhile Egypt possesses impressive tourist destinationsand great potential for growth, the industrystill faces several challenges that impact itspotential.These challenges include security concernswhereby one of the primary challenges for Egypt’stourism industry is security. Egypt has faced periodicsecurity issues and political instability, leadingto concerns among potential tourists abouttheir safety.Infrastructure and services are another area ofconcern where Egypt needs constant investmentand improvement in transportation networks,including airports, roads, and public transportation.When it comes to hotel occupancy, Egypt doesnot have enough hotel rooms to accommodatethe growing number of tourists visiting the country.This can lead to high hotel rates and difficultyfinding accommodation, especially during peaktourist seasons.“It is essential to grant tax and customs duty exemptionsto companies involved in hotel constructionin Egypt. This exemption shouldbe applicable for a minimum period offive years, which aligns with the durationrequired for hotel construction.Then, we can effectively expand hotelcapacity to 500,000 rooms, ultimatelyattracting 30 million tourists andachieving an annual revenue of 30billion,” Sadek suggested.Solutions AheadBy investing in marketing and promotion,Egypt can do more to promoteits tourism industry to the world. Thiscould be done through targeted marketingcampaigns, social media, and public relations.Egypt should still improve its infrastructure andtransportation system to make it easier for touriststo get around the country. This could includebuilding new roads, airports, and public transportationsystems.New tourism products and experiences need tobe developed to attract a wider range of visitors.This could include developing ecotourism, adventuretourism, and cultural tourism products.Further improvement of the quality of servicesoffered to tourists is needed. This includes everythingfrom hotel accommodations to restaurantfood to tour guide services. This will help to createa positive experience for visitors and encouragethem to return.Egypt aimsto increasevisitor turnoutby 25%-30% annuallyto reach30 milliontourists by2028.www.businesstodayegypt.com November 202319
Page 1: October - November 2023Vol 28 Issue
Page 5 and 6: In This Issue4640and how it contrib
Page 7 and 8: A Legacy of SuccessOver 28 Years of
Page 9 and 10: In Brief EgyptS&P upgrades Egypt’
Page 11 and 12: In Brief EgyptCBE eases restriction
Page 13 and 14: ing from prolonged geopolitical dev
Page 15 and 16: As the tourism sectorsbegins to rec
Page 17: Tourismpact the nation’s tourism
Page 22 and 23: SportsEgypt’sSportsHorizon:Econom
Page 24 and 25: SportsYouth Bodies Law has been ame
Page 26 and 27: Sportsjunior) in April 2021.These c
Page 28 and 29: GamingInside Egypt’sGamingIndustr
Page 30 and 31: GamingThe gaming industry is a dive
Page 32 and 33: GamingStrengths and WeaknessesAbdel
Page 34 and 35: CinemaEgypt is theHollywoodof the E
Page 36 and 37: CinemaBy Nouran AllamThe Egyptian e
Page 38 and 39: ans can earn a living through perfo
Page 40 and 41: Streaming40 September 2023www.busin
Page 42 and 43: StreamingWith the increasing availa
Page 44 and 45: StreamingThis digital revolution ha
Page 46 and 47: FashionPositioningEgypt asaHubThe o
Page 48 and 49: Egypt: An Open Fashion ShowEgypt’
Page 50 and 51: ment and evolving trends reflect a
Page 52 and 53: FashionEgypt Fashion Awards (EFA) i
Page 54 and 55: Advertising IndustryAdvertisingThe
Page 56 and 57: Advertising“For instance, the Egy
Page 58 and 59: BT SceneEuropean Parliamentary Foru
Page 60 and 61: bt scenePalm Hills Developments awa
Page 62 and 63: bt scene“Defining Class since 188
Page 64 and 65: bt sceneTarek Al-Gamal: B20 Summith
Page 66 and 67: Last Word“Launching the Major Dev

Business Today Egypt | October – November 2023, Special Edition

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