Egypt Hospitality Market Size
|Base Year For Estimation||2022|
|Forecast Data Period||2023 - 2028|
|Historical Data Period||2018 - 2021|
|CAGR||> 6.00 %|
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
Egypt Hospitality Market Analysis
With the diversification of new types of tourism like health and wellness tourism, medical along with cultural and recreational tourism, the tourism sector in Egypt is growing and is driving the growth of the hospitality industry in the country. Through adopting different strategies like offering a more genuine experience with the homelike environment, spacious rooms, fully equipped kitchen, free wireless connection, complimentary breakfast, on-site laundry service, etc. the operators are focusing on addressing the needs of dynamic customers in order to score more extended stays. The tourist arrivals to the region are forecasted to increase with the opening the Grand Egyptian Museum, which was scheduled to open in 2023. And with the United Kingdom’s lifting the ban on the flight to Sharm El Shiekh i, several airline operators have re-introduced the city to their destination list, which is estimated to enhance the tourist arrivals from the United Kingdom to Egypt. Hospitality Industry in Egypt Market is poised to grow at a CAGR of 6% by 2027.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the hospitality market in 2020 as government imposed restrictions on domestic and international travel limiting the need for services offered by these establishments. Steps by government to contain the transmission have resulted in a decline in economic activity and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the hospitality market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market
Egypt Hospitality Industry Segmentation
A complete background analysis of the Hospitality Industry in Egypt, which includes an assessment of the industry associations, overall economy, and emerging market trends by segments, significant changes in the market dynamics, and market overview is covered in the report. Hospitality Industry in Egypt is Segmented by Type (Chain Hotels and Independent Hotels), by Segment (Service Apartments, Budget and Economy Hotels, Mid and Upper Mid Scale Hotels and Luxury Hotels). The Report Offers Market Size and Forecasts for the Hospitality Industry in Egypt in Value (USD Million) for all the above Segments.
|Budget and Economy Hotels|
|Mid and Upper mid scale Hotels|
Egypt Hospitality Market Trends
This section covers the major market trends shaping the Egypt Hospitality Market according to our research experts:
Attracting More Investments into the Industry
Egypt’s economy grew by 6.6% in the previous fiscal year 2021/2022 compared to a growth rate of 3.3% in the year prior. The hotel sector had the most substantial growth at a rate of 45.5%. The contribution of travel and tourism to the Gross Domestic Product (GDP) in 2021 is 5.1%. Egypt’s hospitality sector is on track to grow at a CAGR of 6.2 percent for the next five years. Egypt’s Afifi Investment Group is planning to invest USD 86 million in acquiring hotels in the tourist hotspot of Sharm El-Sheikh. In 2022, Mahmoud Afifi told Zawya Projects that the group is planning to invest in 4 and 5-star hotels in Sharm El-Sheikh through its subsidiary Universal Tourism Investment. Egypt’s government has set new investment targets for the fiscal year (FY) of 2022/2023, aiming to reach 7.4 billion in investments for Egypt’s tourism sector.
To understand key trends, Download Sample Report
Strong Tourism Sector Performance in Egypt is Forecasted Boost the Hospitality Industry
Around 4.9 million tourists visited Egypt in the first half of 2022, an 85.4% increase compared to the same period last year. Hotel occupancy also grew in 2022, during the first six months of 2022, it was 52.6 million nights, a 63.6% increase compared to the first half of 2021. In all of 2021, 8 million tourists visited Egypt, a 117.5% increase over 2020, when 3.7 million people visited the country. Continuous efforts being made to improve tourist safety and security along with their overall experience in the country by the ministry of tourism’s initiatives to excel in setting up new tourism regulations across the country and improved global marketing campaigns.
Egypt Hospitality Industry Overview
The international hotel brands have a strong presence in Egypt and are expanding their footprint furthermore in the region. There are more than 150 hotel properties that belong to hospitality giants like Marriott, Accor, Hilton, and are offering around 35,500 rooms/keys.
Egypt Hospitality Market Leaders
Marriott International Inc
Hilton Worldwide Holdings Inc
Melia Hotels International SA
*Disclaimer: Major Players sorted in no particular order
Egypt Hospitality Market News
- In October 2022, Egypt's Afifi Investment Group acquired Uni Sharm Hotel in Sharm El-Sheikh and invested 400 million pounds ($17 million) to modernise the hotel and upgrade it to 4-star category and introduce commercial and retail elements.
- In January 2022, Accor expands its luxury footprint in Egypt with the signing of Sofitel Cairo New Capital Hotel & Residences, a new flagship property for the group that will strengthen the Sofitel brand in Egypt.
Egypt Hospitality Market Report - Table of Contents
1.1 Study Deliverables
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Dynamics
4.3 Impact of COVID-19 on Hospitality Industry
4.4 Insights on Revenue Flows from Accommodation and Food and Beverage Sectors
4.5 Leading Cities in Egypt with Respect to Number of Visitors
4.6 Investments (Real Estate, FDI and others) in the Hospitality Industry
4.7 Technological Innovations in the Hospitality Industry
4.8 Insights on Shared Living Spaces Impact on the Hospitality Industry
4.9 Insights on Other Economic Contributors to the Hospitality Industry
4.10 Porter's Five Forces Analysis
4.11 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Chain Hotels
5.1.2 Independent Hotels
5.2 By Segment
5.2.1 Service Apartments
5.2.2 Budget and Economy Hotels
5.2.3 Mid and Upper mid scale Hotels
5.2.4 Luxury Hotels
6. COMPETITVE INTELLIGENCE
6.1 Market Concentration Overview
6.2 Company profiles
6.2.1 Accor SA
6.2.2 Marriott International Inc
6.2.3 Hilton Worldwide Holdings Inc
6.2.4 Radisson Hotels
6.2.5 Melia Hotels International SA
6.2.6 Rotana Hotels
6.2.7 InterContinental Hotels Group
6.2.8 Mangalis Hotel Group
6.2.9 Best Western Hotels & Resorts
6.2.10 Hyatt International*
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. FUTURE OUTLOOK OF THE SECTOR
Egypt Hospitality Market Research FAQs
What is the current Egypt Hospitality Market size?
The Egypt Hospitality Market is projected to register a CAGR of greater than 6% during the forecast period (2023-2027).
Who are the key players in Egypt Hospitality Market?
Marriott International Inc, Accor SA, Hilton Worldwide Holdings Inc, Radisson Hotels and Melia Hotels International SA are the major companies operating in the Egypt Hospitality Market.
Hospitality in Egypt Industry Report
Statistics for the 2023 Hospitality in Egypt market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hospitality in Egypt analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.