Egypt Hospitality Market Size
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 3.78 Billion |
| Market Size (2029) | USD 4.65 Billion |
| CAGR (2024 - 2029) | 4.25 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Egypt Hospitality Market Analysis
The Hospitality Industry In Egypt Market size is estimated at USD 3.78 billion in 2024, and is expected to reach USD 4.65 billion by 2029, growing at a CAGR of 4.25% during the forecast period (2024-2029).
Due to the diversification of new forms of tourism, e.g., health and wellness, medicine, culture, or leisure travel, the growth in Egypt's tourism sector is creating an incentive for hotel operators to expand their businesses. To attract more extended stays, the operators are focusing on meeting the needs of dynamic customers by implementing various strategies. It includes providing a more authentic experience with a homelike environment, spacious rooms, a fully equipped kitchen, free wireless connection, complimentary breakfast, on-site laundry service, etc. It is anticipated that the inauguration of the Grand Egyptian Museum, expected in the current year, will bring in more tourists to the country.
There is a significant increase in the number of tourists in Egypt compared to global tourism, contributing to the overall growth of the country.
Egypt鈥檚 hospitality market is on the rise. It is expected to continue to grow in the years to come as a result of the rapidly increasing tourist demand and higher spending on leisure activities and tourism infrastructure. Tourism is a major contributor to the Egyptian economy. With the launch of many new projects across Cairo and other major Egyptian cities in the previous year, the hospitality sector is expected to continue its strong growth and provide a boost to other real estate sectors.
Egypt's hospitality market has seen strong growth in recent years, driven by the country's rapid tourism recovery after the pandemic. This is largely due to the government and private sector's economic initiatives, such as the introduction of reforms and the creation of new hospitality products / demand drivers. These initiatives, combined with the strong domestic demand, have contributed to a strong market recovery.
Egypt Hospitality Market Trends
Rise in the Number of Hotel Construction Projects
Egypt is developing a package of incentives for both domestic and international investors to build new hotel so that it can meet its five-year target of 400,000 hotel rooms. In the most recent Middle East Hotel Construction Pipeline Trend Report from Lodging Econometrics, the total pipeline climbed by 10% and 5% year over year by projects and rooms to stand at around 600 projects, with 146,521 rooms at the end of the second quarter. As of the end of the previous year, there were 330 projects totaling 90,619 rooms under construction. The number of projects anticipated to begin construction within a year increased by 17% year over year to 102 projects with 23,909 rooms. International operators are showing great interest in Egypt's hospitality and tourism industry. It may result in the introduction of new projects all around the city.
Strong Performance in Egypt's Tourism Sector Is predicted to Boost the Hospitality Sector
In the first half of the previous year, around 5 million tourists traveled to Egypt, an 85% increase over the same period in the previous year. In the previous year, hotel occupancy increased as well. The Ministry of Tourism is constantly working to enhance visitor safety and security as well as their overall experience in the nation through innovative national tourism policies and enhanced international marketing activities. The remarkable results provided were bolstered by an extra 35% rise in visitors to project a boom in the business. It reached seven million in the first half of the current year.
Egypt is broadening the list of nationalities that are eligible for visa-upon-arrival privileges. These include Chinese, Turkish, Algerians, Moroccans, Indians (with residency in the Gulf Cooperation Council), and Iraqis (with visas for developed countries).
Egypt Hospitality Industry Overview
The Egypt hospitality industry is fragmented. International hotel brands are well-established in Egypt and continue growing throughout the country. The region hosts a high number of brands with global footprints. Airbnb is attracting a large consumer base and has recorded an increasing number of listings and bookings over the past few years. The major players dominating the market are Marriott International Inc., Accor SA, Hilton Worldwide Holdings Inc., Radisson Hotels, and Melia Hotels International SA.
Egypt Hospitality Market Leaders
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Marriott International Inc
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Accor SA
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Hilton Worldwide Holdings Inc
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Radisson Hotels
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Melia Hotels International SA
*Disclaimer: Major Players sorted in no particular order
Egypt Hospitality Market News
- December 2023: Egypt's leading real estate company, Palm Hill Development Company, partnered with the US Marriott International hotel chain to construct a new hotel in Cairo.
- June 2023: Accor, the world's leading hotel group, is joining forces with Alltheway. It is a start-up specializing in luggage handling solutions that will enable travelers to check their baggage directly at Group hotels. The luggage shall be taken from the hotel and transferred to the destination airport once they are inspected.
- June 2023: Radisson Hotel Group (RHG) signed for Radisson Collection Resort, Marsa Alam Port Phoenice, in Egypt, bringing the Group's expansion to eight hotels in operation and under development.
Hospitality Industry In Egypt Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 The Rise in Business Travel as a Result of Robust Economic Expansion
4.1.2 Rise in the Online Travel Agencies Leads to Growth of the Industry
4.2 Market Restraints
4.2.1 Government Regulatory Compliance for International Tourists
4.3 Market Opportunities
4.3.1 Increasing Technology in the Hotel Industry Offers Fantastic Prospects for Business Expansion
4.3.2 Government Promoting Tourism to Increase the GDP
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Impact of COVID-19 on the market
4.6 Insights on Leading Cities in Egypt with Respect to Number of Visitors
4.7 Insights on Shared Living Spaces Impact on the Hospitality Industry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Chain Hotels
5.1.2 Independent Hotels
5.2 By Segment
5.2.1 Service Apartments
5.2.2 Budget and Economy Hotels
5.2.3 Mid and Upper Midscale Hotels
5.2.4 Luxury Hotels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Accor SA
6.2.2 Marriott International Inc
6.2.3 Hilton Worldwide Holdings Inc
6.2.4 Radisson Hotels
6.2.5 Melia Hotels International SA
6.2.6 Rotana Hotels
6.2.7 InterContinental Hotels Group
6.2.8 Mangalis Hotel Group
6.2.9 Best Western Hotels & Resorts
6.2.10 Hyatt International*
- *List Not Exhaustive
7. FUTURE MARKET TRENDS
8. DISCLAIMER AND ABOUT US
Egypt Hospitality Industry Segmentation
The hospitality industry refers to any business in which the primary source of revenue is the sale or rental of food and beverages or accommodations. There are several broad categories of service industries within the hospitality industry. The hospitality industry in Egypt is segmented by type and segment. By type, the market is segmented into chain hotels and independent hotels. By segment the market is segmented into service apartments, budget and economy hotels, mid and upper-midscale hotels, and luxury hotels. The report offers market size and forecasts for the hospitality industry in Egypt in value (USD) for all the above segments.
| By Type | |
| Chain Hotels | |
| Independent Hotels |
| By Segment | |
| Service Apartments | |
| Budget and Economy Hotels | |
| Mid and Upper Midscale Hotels | |
| Luxury Hotels |
Hospitality Industry In Egypt Market Research Faqs
How big is the Hospitality Industry In Egypt Market?
The Hospitality Industry In Egypt Market size is expected to reach USD 3.78 billion in 2024 and grow at a CAGR of 4.25% to reach USD 4.65 billion by 2029.
What is the current Hospitality Industry In Egypt Market size?
In 2024, the Hospitality Industry In Egypt Market size is expected to reach USD 3.78 billion.
Who are the key players in Hospitality Industry In Egypt Market?
Marriott International Inc, Accor SA, Hilton Worldwide Holdings Inc, Radisson Hotels and Melia Hotels International SA are the major companies operating in the Hospitality Industry In Egypt Market.
What years does this Hospitality Industry In Egypt Market cover, and what was the market size in 2023?
In 2023, the Hospitality Industry In Egypt Market size was estimated at USD 3.62 billion. The report covers the Hospitality Industry In Egypt Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Hospitality Industry In Egypt Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Hospitality Industry In Egypt Industry Report
Statistics for the 2024 Hospitality in Egypt market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Hospitality in Egypt analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
