Analysis
Middle East and Africa
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Sharm el-Sheikh: the Pearl on the Red Sea thinks business

7 min reading time

Published on 02/09/08 - Updated on 17/03/22

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Riding a wave of record occupancy, Egypt is focusing on the diversity of its positioning. Starting with the most popular beach resort East of the Sinai, Sharm el-Sheikh. Benefiting from the strength of an increasingly diversifed clientele and being regularly brought into the limelight by political summits, its ambition is to play both cards: its past as an established beach resort and its future as a convention destination. Many foreign investors are joining in on the game – as long as the country pursues the reforms it began after becoming a member of the OCDE.

The figures speak for themselves: 11.1 million foreigners traveled to Egypt last year, meaning a 22% increase over 2006, and the authorities aren’t planning to stop there. The Egyptian Tourism minister, Zoheir Gharana, hopes to reach 14 million arrivals by 2011 and is aiming at 18 million for 2015...

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