The Grand Egyptian Museum (GEM) is a strong addition to cultural tourism in Egypt and will help the country achieve its goal of attracting 30 million tourists by 2030, Minister of Planning Rania Al-Mashat has said.
In an interview with Richard Quest on CNN International, Al-Mashat described the new museum as an “integrated development project for tourism, culture, and entertainment.” She noted that it is not just for Egypt but for the entire world and is expected to attract millions of visitors.
“The Grand Egyptian Museum is the largest museum dedicated to a single civilisation and houses the complete collection of King Tutankhamun,” Al-Mashat said, highlighting its proximity to major transport axes and Sphinx International Airport, as well as the increase in hotel rooms being built by the private sector in the surrounding area.
The minister also pointed to Egypt’s advanced infrastructure and airports that connect beach tourism areas with various archaeological sites.
“The tourism sector is one of the sectors with the highest employment multiplier, where every direct job opportunity in the sector creates 2-3 indirect job opportunities, which reflects the great importance of the sector in the Egyptian labour market,” she added.
Al-Mashat mentioned that Egypt has spent heavily on infrastructure in recent years, which has paved the way for increased development in various fields such as tourism, industry, and exports. She stressed that the progress in infrastructure has made the economy more ready for increased investments, particularly in renewable energy, pharmaceuticals, and textiles.
The minister reaffirmed the diversity of the Egyptian economy, with its industrial base, continuous development in digital transformation and ICT, and the boom in the tourism sector. This has been reflected in increased growth rates, reaching 4.4% in the last fiscal year and 5% in the last quarter, despite the contraction of the Suez Canal sector due to regional tensions, she said.
Regarding the recent peace agreement in Gaza, Al-Mashat said: “This agreement will have an impact on trade movement through the Suez Canal, with 12% of global trade traffic returning to the canal, and will reflect on the economy of the region and the world.”
“What we have learned in past years is that despite the shocks, we strengthen our resilience through continuous policies and reforms, which is why we continue with reforms to advance policy predictability and drive the resilience of the Egyptian economy,” she concluded.
