Egypt’s initiative to support tourism under consideration – CBE

Egypt is considering launching a new initiative to support the tourism sector, said the Central Bank of Egypt (CBE).

The initiative will be under the supervision of the ministries of tourism and finance, who are waiting for the approval of the Egyptian Cabinet.

The CBE said the current initiative to support the sector was dismissed by the Cabinet, therefore, banks must hold back from providing any new financing in the framework of the old initiative.

The tourism sector in Egypt witnessed a boost in 2023 and recorded the highest numbers of tourists ever during the first half of the year.