Under the patronage of HE Dr. Mostafa Madbouly, the honourable Prime Minister of Egypt and in association with the Federation of Egypt Chamber of Commerce, the Middle East and North Africa Leisure and Attractions Council will host its ‘FOCUS ON EGYPT’ event to highlight growth opportunities in the country for the regional leisure & entertainment industry.
- Strategic location, sizeable population and a rich heritage are all working in favour of Egypt’s leisure & entertainment sector that’s experiencing robust growth.
- Fuelled by growth in tourism, hospitality and entertainment offerings, Egypt’s leisure, entertainment & amusement (LEA) landscape is estimated to grow from $2.9 billion in 2024 to $3.7 billion in 2028, industry estimates indicate.
- Notably, the LEA sector contributes 12% to Egypt’s GDP.
- The Egyptian government is actively promoting the development of the leisure and entertainment sector through initiatives and incentives, enhancing the investment climate.
[November 2024, Dubai, UAE]
Standing at a pivotal juncture in its economic development driven by massive infrastructure projects, entertainment is expected to play a key role in Egypt’s growth plans. With its current entertainment offerings ranging from ancient sites and Nile cruises to destinations such as Ski Egypt and Extreme land, the country’s leisure and entertainment market is diverse, dynamic and set to grow further.
That’s not all. Egypt is set to welcome several new landmarks including the Grand Egyptian Museum and Cairo Eye, among others. What’s more, Egypt’s New Administrative Capital is planning a large entertainment district that will feature theme parks, cinemas, performance spaces and shopping malls with an aim to create a new hub for leisure and recreation outside of Cairo.
Against this backdrop and under the patronage of HE Dr. Mostafa Madbouly, the Prime Minister of Egypt and in association with the Federation of Egypt Chamber of Commerce (FEDCOC), the Middle East and North Africa Leisure and Attractions Council (MENALAC) is all set to host its flagship ‘Focus on Egypt’ event on December 10 & 11, 2024 at the FEDCOC headquarter in New Cairo. The action-packed two-day programme is designed to spotlight massive growth opportunities that Egypt offers for the MENA leisure & entertainment sector.
In this context, Alwalid Al Baltan, President of MENALAC highlighted that Egypt’s strategic focus on enhancing its entertainment and hospitality offerings plays a crucial role in the country’s economic growth and diversification. “It’s an opportune time for MENALAC to host the inaugural edition of ‘FOCUS ON EGYPT’ event, which reinforces our commitment to tap into the growth prospects of the MENA leisure and entertainment landscape. We are keen to work with the governments of other MENA countries too. Our partnership with the Egypt Chamber of Commerce will surely create pathways and open the door to more roadshows in other growing markets, for the future growth of the regional leisure & entertainment industry.”
Commenting on the partnership, Ahmad El Wakil, President of the Egypt Chamber of Commerce said, “Our government is actively promoting the development of the leisure and entertainment sector through several initiatives and incentives to boost investment opportunities in a largely untapped market segment. From promoting cultural and entertainment projects as part of Egypt Vision 2030 to the launch of Tourism Reform Programme in 2020 to modernise the tourism infrastructure, which has a direct impact on the country’s leisure and entertainment offerings, several initiatives have been rolled out. In addition, procedures to start a business have been simplified, while potential investors can also avail tax breaks, among other such incentives. Further, the government is encouraging partnerships between the public and private sector entities to develop and manage leisure and entertainment facilities.”
The two-day ‘Focus on Egypt’ event will feature keynote sessions and panel discussions with a goal to showcase investment and growth opportunities in Cairo, highlighting areas of collaborations. Coupled with such key learnings, there will be several opportunities to network and explore Cairo’s exciting leisure and entertainment offerings as part of ‘MENALAC Explores’ conducted tours. Moreover, the conference will also feature three panel discussions focused on health & safety, FECs and waterparks.
With attendee profiles expected to include Egypt government authorities, global & local investors, leisure & entertainment operators, equipment manufacturers, suppliers, technology providers as well as hospitality service providers, creative agencies and media, the ‘Focus on Egypt’ event promises to bring together public and private sector entities under one roof to find collaboration opportunities to expand the industry.
“At MENALAC, we are always looking for opportunities to add new events to our roster as is evident by the varied type and number of events we have host every year. We are extremely excited about launching ‘Focus on Egypt’ as our first event to establish our presence and credibility in a large market like Egypt. We believe it is only a first step towards hosting more such events in North Africa,” added Davide Camaiora, Head of MENALAC Events.
MENALAC’s upcoming ‘Focus on Egypt’ event demonstrates the country’s commitment to expanding its entertainment sector aligned with Egypt Vision 2030, which aims to promote Egypt as a global tourism destination.