Egypt's Minister of Tourism and Antiquities Ahmed Issa witnessed a signing ceremony on Monday between Akam Alrajhi Developments and the IHG Group to manage a hotel in the Egyptian North Coast region.
The contract was signed by Idris Mohamed, CEO of Akam Al Rajhi Company, and Haitham Matar, President of IHG Hotels & Resorts in the India, Middle East and Africa region.
In his remarks, the minister noted that the country expects a total of 15 million tourists in 2023, a figure which, if met, would break the 14.7 million record set in 2010.
Issa said that Egypt aims to attract 30 million tourists per year by 2028, which comes in line with the country's National Tourism Strategy’s increase of 25-30 percent annually.
He noted that the country has been working to increase hotel capacity by 500,000 rooms.
The minister also thanked attendees for their efforts in this regard, affirmed that Egypt is worthy of being the number one tourism destination in the world, pointing to its "diverse and unique tourist sites as well as archaeological potential."
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