Tuesday, September 28, 2021

Egyptian incentives package to attract millionaire tourism

Egypt tends to maximize yacht and cruise ship tourism, or what is known as millionaire tourism, especially with the country’s extensive beaches.

The pandemic caused the collapse of Egyptian tourism in March 2020 and slowed other parts of the economy.

In a meeting, Egyptian Prime Minister Mostafa Madbouly reviewed, on Sunday, a plan to maximize yacht and cruise ship tourism to his country.

He pointed out that the meeting aims to discuss the executive plan of the strategy to maximize the use of yacht tourism in Egypt and to study the procedures implemented for yacht tourism compared to competing countries, in order to facilitate procedures and to maximize this type of tourism activity.

He said this type of tourism represents a great added value to tourism in Egypt, especially with the country’s beaches extending on the Mediterranean and Red coasts of Bahrain, stressing the need to facilitate and simplify all procedures in the entry and exit stages of incoming tourists.

Tourism contributes up to 15 percent of Egypt’s national product and is a major source of foreign exchange, but it has been severely affected in light of the Covid-19 pandemic and measures to contain it.

During the meeting, Engineer Kamel Al-Wazir, Minister of Transport, indicated the formation of a higher ministerial committee to develop a strategy to attract yacht tourism.

He explained that the tasks of this ministerial committee are determined in updating the map of each marina – the yacht marina – whether existing or proposed, with the identification of promising areas that represent attractions for yacht tourism, in addition to setting controls and regulations for yacht tourism; To standardize all the necessary requirements.

An official in the Egyptian tourism sector said that the hotel occupancy rate in the cities of Hurghada and Sharm El-Sheikh ranged between 35% and 40% in the first half of this year.

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“Occupancy in Hurghada and Sharm el-Sheikh reached 35-40 percent in the first half of this year, compared to 20-23 percent a year ago,” said the official, who asked not to be named.

“Occupancy in Cairo hotels reached about 45 percent in the first half of this year, compared to 27 percent a year ago.”

The Egyptian government agreed earlier to increase the occupancy rate in tourist hotels, restaurants, and cafes, as well as cinemas, theaters, etc., with a capacity of 70 percent instead of 50 percent, as it was in the past.

Egypt’s Deputy Minister of Tourism and Antiquities Ghada Shalaby told Reuters that the sector’s revenues ranged between 3.5 billion and 4 billion dollars in the first half of this year, while the number of tourists received by the country amounted to about 3.5 million.

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