Objectives of the Tourism and Antiquities Support Fund to attract tourists
The Egyptian tourism sector began to communicate with Western companies to attract tourists during the winter season to spend as long as possible in the context of rising energy prices.
Shrouq
Tourism is one of the main pillars of supporting the Egyptian economy, and the tourism sector has witnessed some crises during the previous years, but it has started to recover recently.
The Egyptian tourism sector began to communicate with Western companies to attract tourists during the winter season to spend as long as possible in the context of rising energy prices.
Given the importance of tourism because it revitalizes the country’s economy, Law No. 19 of 2022 promulgated the law establishing the Tourism and Antiquities Support Fund, stating that the fund aims to:
1- Improving the tourism system in Egypt
2- Developing Egyptian museums to promote the unique Egyptian cultural heritage and preserve it for future generations.
3- Contribute with the concerned authorities in supporting and financing activities that raise the capabilities and qualifications of tourism and antiquities workers
4- Developing and revitalizing tourism, developing services and tourist areas, and projects of the Supreme Council of Antiquities related to the restoration, preservation and maintenance of antiquities.
5- Developing archaeological sites and areas
6- Building and developing Egyptian museums to promote and preserve the unique Egyptian cultural heritage for future generations.
7- The fund shall have a board of directors chaired by the minister concerned with tourism and antiquities affairs.
8- The law also exempted all donations, grants, subsidies, and financial and in-kind contributions to the Fund from all types of taxes and fees.
Tourism recovered last year, and its revenues amounted to $10.7 billion during the fiscal year 2021-2022, taking into account the negative effects of the Russian-Ukrainian crisis, but it remains below the highest level achieved in 2019, which amounted to about $13 billion.
The government in Egypt is working to achieve its national plan to double the number of tourists by working on several axes, namely:
• Increasing hotel rooms and the number of restaurants in Egypt.
• Attracting local and foreign investors by improving the investment climate.
• Increasing the number of seats available to Egypt in airlines.
• Improving the tourism experience for tourists in Egypt.
