حفلة 2024

Tourist arrivals to Egypt to hit 15mln end-2023 – report

Egypt is expected to welcome 15 million tourists by end of 2023, according to report by JLL’s Cairo Real Estate Market Overview.

The report found that Cairo’s occupancy levels rose to 68 percent in August 2023, up from 61 percent during the same month last year.

In Q3 2023, the revenue per available room (RevPAR) climbed by eight percent, to reach around $95.

This came after a drop in the average daily rate (ADR) in Cairo by three percent year on year (YoY) to $144 from January to August.

There was also 7,000 units delivered in the June-September period in major residential complexes.

This helped increase the total residential stock to around 262,000 units.

Moreover, around 9,000 units are set to be delivered during the last quarter of the year, the report added.

“This surge in tourism, combined with the roll-out of progressive laws, promising project pipelines, and a growing emphasis on sustainability, is paving the way for increased inward investment in the country,” said Ayman Sami, Country Head, Egypt at JLL.

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