Egypt’s Ministry of Tourism and Antiquities is officially participating for the first time in the prestigious Monaco Yacht Show, held in the Principality of Monaco, France — the world’s leading global event for the yachting industry.
Marking this debut, Minister of Tourism and Antiquities, H.E. Mr. Sherif Fathy, held high-level meetings with global leaders in the marine and yachting sectors. Among the notable figures were Mr. Bernard d’Alessandri, Secretary-General and Director of the Monaco Yacht Club, and Mr. Jose Marco Casellini, Chairman of Monaco Marina Management — one of the world’s top firms in yacht development and management.
Tapping into the Global Luxury Yacht Market
The meeting centered on the strategic importance of the yachting industry as a driver of economic growth, supply chain stimulation, and international tourism revenue. Minister Fathy emphasized Egypt’s commitment to developing this sector, citing direct support from President Abdel Fattah El-Sisi and the Egyptian government’s broader vision to transform Egypt into a top-tier yacht tourism destination.
“Egypt is rapidly emerging as a competitive and attractive hub for yacht tourism, both in the Mediterranean and the Red Sea,” the minister noted during the talks.
Strategic Location, Untapped Potential
Discussions also covered proposals for establishing yacht maintenance centers in Egypt, in collaboration with international and local partners — a key requirement in the global yachting ecosystem.
Specific attention was given to high-potential regions like the North Coast, Ras El Hekma, and the Galala region, which boast long tourism seasons, diverse marine offerings, and new infrastructure developments.
Invitation for Partnership and Investment
Minister Fathy extended an official invitation to Monaco Marina Management and the Monaco Yacht Club to visit Egypt and explore opportunities for collaboration. The Monaco-based delegation, in turn, presented a detailed proposal showcasing the company’s expertise in sustainable yacht development, evaluation, consulting, and international marina projects — including their work across several Arab countries.
Both sides agreed to continue cooperation and facilitate knowledge exchange to develop Egypt’s luxury yacht and marina industry.
Inside the Monaco Yacht Club
The Egyptian delegation also toured the historic Monaco Yacht Club, which boasts a membership of over 2,500 and hosts some of the world’s largest privately owned yachts — including 8 of the top 12 mega yachts globally.
The meeting was attended by Ambassador Amr El-Rashidi, Egypt’s Consul General in Marseille; Ms. Rana Gohar, Ministerial Advisor for Communication and International Relations; and Mr. Ahmed Nabil, Advisor for Aviation and Follow-up Affairs.
