“Use Egypt's wealth of contemporary real estate” to “maximize individual tourism” called on Egyptian businesses and citizens by Prime Minister Mostafa Madbouli. According to his estimates, this method can quickly double the number of beds for tourists, as well as provide them with cheap and private tourism.
In essence, Egypt is trying to “re-discover” the apartment tourism and short-term rentals that European cities have long mastered – so much so that some no longer know how to deal with it. And in Egypt, the authorities are now instructing “to make the best use of the wealth of modern real estate in Egyptian tourist and emerging cities, turning these assets into tourist facilities and hotel rooms to maximize individual tourism.” According to Egyptian media, Mr. Madbouli sees this approach as “benefiting the owners, who can rent out their premises and make a profit, and will also benefit the state by attracting more tourists.”
“Many foreign families will seek to spend their holidays in these units with more privacy,” said Mr. Madbouli. He also expressed confidence that the move would positively impact other commercial activities in the vicinity of these units, such as restaurants and shopping malls.
Note that Tourism Minister Ahmed Issa said earlier that while Egypt hopes double the number of tourists to 25-30 million by 2028, currently it can attract no more than 14-15 million tourists annually – there are simply no places for more in hotels. So to double that number, Issa added, Egypt needs to double its hotel rooms, offer low-cost air travel and diversify tourism products. Apparently, offering tourists a “wealth of modern real estate” is supposed to be one of the solutions.
For those who care about a healthy lifestyle, we recommend reading: “Vitamin D has been found to reduce the risk of developing diabetes.”