Egypt’s Minister of Investment and Foreign Trade, Eng. Hassan Khateeb, met with Raúl González, Chief Executive Officer of the Barceló Hotel Group, to explore key investment opportunities in Egypt’s burgeoning tourism and hospitality sectors. The meeting discussed strategic initiatives that will contribute to the country’s long-term growth objectives and enhance its global position as a leading tourism destination.
Khateeb highlighted Egypt’s robust investment potential, particularly within the hotel and resort industries, underscoring the government’s commitment to fostering a conducive environment for foreign investments. “Egypt offers a wealth of opportunities in sectors such as hospitality, resorts, and tourism, particularly in cities like Cairo, Sharm El Sheikh, Hurghada, and Marsa Alam,” said Khateeb. “Our government supports global players, such as Barceló, to expand their operations and investments in Egypt, leveraging our competitive advantages in tourism.”
This discussion is part of Egypt’s broader strategy to significantly boost its tourism sector, with a target of welcoming 30 million tourists annually. To achieve this, the country plans a comprehensive expansion of its hotel infrastructure, aiming to increase the number of hotel rooms from 230,000 to 500,000 by 2030.
The Minister also emphasized Egypt’s proactive approach to fostering public-private partnerships, particularly in the hospitality sector, which aligns with the government’s wider economic reform agenda. “We are focused on attracting world-renowned hotel chains to contribute their expertise and investment to elevate the quality of services and experiences offered to tourists in Egypt,” Khateeb noted. He also referred to opportunities available through the Sovereign Wealth Fund, particularly in the area of tourism and hospitality development.
A key point of the conversation was the potential for revitalizing Egypt’s historical and cultural assets. Khateeb outlined opportunities to repurpose select government-owned properties in Cairo and Alexandria into high-end hotels, offering investors the chance to combine Egypt’s rich heritage with modern hospitality concepts. This initiative presents a unique opportunity for long-term, sustainable tourism development that also preserves Egypt’s cultural identity.
On the other hand, Raúl González, CEO of Barceló Hotel Group, expressed strong interest in furthering the company’s operations in Egypt. Barceló, a leading global hospitality group, currently owns and operates more than 66,000 hotel rooms worldwide. González indicated that the company’s long-term strategy is closely aligned with Egypt’s tourism growth trajectory. “We recognize Egypt as a pivotal market for expansion, and we are actively exploring investment opportunities in key destinations such as Cairo, Sharm El Sheikh, and the Red Sea region,” he said.
González also shared insights into the company’s recent foray into the Nile cruise market, marking Barceló’s first venture into the floating hotel sector. “Nile cruises are an integral part of Egypt’s tourism offering, particularly for European and Spanish tourists. Our entry into this market reflects our confidence in Egypt’s tourism potential and our commitment to expanding our presence in this dynamic sector,” González explained. The Barceló Group’s interest in Egypt comes at a time when the country is witnessing significant growth in its tourism and hospitality sectors.
The meeting between Minister Khateeb and González further solidified the potential for strategic collaboration between Egypt and global hospitality leaders. With an emphasis on enhancing Egypt’s tourism infrastructure, increasing foreign direct investment, and positioning the country as a top global destination, the conversation reinforced Egypt’s commitment to driving growth and development in the hospitality and tourism sectors.
