Research
The Cairo Real Estate Market – A Year in Review 2023
Buoyed by surge in tourist arrivals, Cairo’s hospitality sector sees occupancy rates climb to 70% in November.
January 18, 2024
Contributors:
- Faraz Ahmed
- Zenah Al Saraeji
- Ayman Sami
Egypt’s tourism numbers, spiking at approximately 8 times higher than the global tourism rate of 4.5%, has been pivotal in stimulating overall growth. Between January and October 2023, Egypt registered around 13.9 million tourist arrivals, a nearly 36% increase compared to the same period last year. Incidentally, October 2023 witnessed the second highest number of tourist arrivals in Egypt since October 2010, welcoming around 1.3 million tourists (up by 8% compared to October 2022)..
Read our latest report for an overview of the office, residential, retail and hospitality sectors in Cairo.
