ADQ and ADNEC will invest through a special purpose vehicle, with 49% equity ownership by ADQ and 51% by ADNEC
He highlighted the significant growth opportunities within Egypt's hotel sector, which will contribute to achieving the target of 400,000 hotel rooms by the end of 2028
The strategic efforts implemented by the government led to a remarkable surge in the influx of visitors to Egypt, resulting in an impressive milestone of 7 million tourists during the initial six months of 2023
Tourism continues to see a steady recovery, with the region’s travel and tourism industry being a major contributor to its economic growth and development, Forbes wrote
The tourism industry contributes around 15% of the country’s gross domestic product (GDP) and is a significant source of foreign currency
