Under the patronage of HE Dr. Mostafa Madbouly, the Prime Minister of Egypt, and in collaboration with the Federation of Egypt Chamber of Commerce (FEDCOC), the Middle East and North Africa Leisure and Attractions Council (MENALAC) will host its flagship event, Focus on Egypt. The event, set to take place on December 10-11, 2024, at FEDCOC’s headquarters in New Cairo, aims to spotlight the immense growth potential of Egypt’s leisure and entertainment (LEA) industry, drawing attention to the country’s expanding investment opportunities.
A Growing Sector with Strong Potential
Egypt’s leisure, entertainment, and amusement sector is witnessing robust growth, fueled by an increasing influx of tourists and growing hospitality offerings. The industry is estimated to grow from $2.9 billion in 2024 to $3.7 billion by 2028, contributing 12% to the nation’s GDP. With its strategic location, a large and youthful population, and a rich cultural heritage, Egypt’s leisure and entertainment landscape is evolving into a dynamic and diverse market. From the country’s famous ancient sites and scenic Nile cruises to modern attractions like Ski Egypt and Extreme Land, Egypt is rapidly becoming a premier destination for both regional and international visitors.
Government Support and Initiatives
The Egyptian government is actively supporting the growth of the leisure and entertainment sector through various initiatives and incentives designed to enhance the investment climate. These efforts align with Egypt Vision 2030, which aims to establish Egypt as a leading global tourism destination. The government is encouraging public-private partnerships to develop and manage leisure and entertainment facilities, ensuring that the sector can thrive and attract significant investments.
Key Highlights of ‘Focus on Egypt’ Event
Alwalid Al Baltan, President of MENALAC, stated that the timing of the event is perfect, given the rapid development in Egypt’s leisure and entertainment sector. He added, “It’s an opportune time for MENALAC to host the inaugural edition of ‘FOCUS ON EGYPT’ event, which reinforces our commitment to tap into the growth prospects of the MENA leisure and entertainment landscape.”
The event will feature a series of keynote sessions and panel discussions aimed at showcasing investment opportunities in Egypt’s thriving leisure sector. Topics will include health and safety protocols, the future of family entertainment centers (FECs), and the development of waterparks. Alongside these discussions, there will be numerous networking opportunities, as well as guided tours under the MENALAC Explores program, offering attendees a chance to experience firsthand the exciting developments within Cairo’s entertainment scene.
Promoting Investment in Egypt’s Untapped Market
Ahmad El Wakil, President of the Egypt Chamber of Commerce, emphasized the government’s efforts to foster investment in the leisure and entertainment sector. He stated, “Our government is actively promoting the development of the leisure and entertainment sector through several initiatives and incentives to boost investment opportunities in a largely untapped market segment. Additionally, the government is encouraging partnerships between the public and private sectors to develop and manage leisure and entertainment facilities.”
Aligning with Egypt Vision 2030
MENALAC’s Focus on Egypt event underscores the country’s commitment to expanding its entertainment sector and positioning Egypt as a leading regional and global tourism destination. This initiative supports the broader goals of Egypt Vision 2030, which seeks to diversify the economy, increase investment, and create new jobs within the growing leisure and entertainment sector.
The two-day conference promises to be a landmark event, facilitating critical conversations and collaborations that will shape the future of Egypt’s entertainment landscape.
