Egypt opened and reopened 14,209 rooms between December 2022 and December 2023, raising its hotel capacity by 7 percent, according to a statement by the Egyptian Ministry of Tourism and Antiquities.
The Tourism Ministry expects to open 25,000 hotel rooms by the end of 2024, according to the statement.
Minister of Tourism and Antiquities Ahmed Issa underscored the importance of accelerating the construction of the necessary hotel rooms as Egypt targets attracting 30 million tourists by 2028.
He emphasized the necessity of promptly providing banks and various civil institutions representing the private sector with the specific regulations for the new hotel investment incentives approved recently by the Cabinet, as soon as the executive regulations are finalized.
Source: State Information Service Egypt
ROME: The benchmark for world food commodity prices fell further in January, albeit slightly, led by decreases in the prices of cereals and meat, which more than offset an increase in the sugar prices, the Food and Agriculture Organisation of the United Nations (FAO) reported today.
The FAO Food Price Index, which tracks monthly changes in the international prices of a set of globally-traded food commodities, averaged 118 points in January, down 1 percent from December and 10.4 percent from its corresponding value a year ago.
The FAO Cereal Price Index declined by 2.2 percent from the previous month. Global wheat export prices declined in January driven by strong competition among exporters and the arrival of recently harvested supplies in the Southern Hemisphere countries, while those of maize fell sharply, reflecting improved crop conditions and the start of the harvest in Argentina and larger supplies in the United States of America.
The FAO Meat Price Index declined for the seventh consecutive month by
1.4 percent from December, as abundant supplies from leading exporting countries drove down international prices.
Source: Emirates News Agency