International Report Reveals the Race for Hotel Investment in Africa: Egypt and Morocco Leading the Pack
A recent international report revealed that Egypt leads hotel development projects in Africa, surpassing Morocco and Tunisia. The report, published by the “W Hospitality Group”, states that 577 hotel projects are under development in Africa, totaling over 104,000 rooms, a 13.3% increase from the previous year.
The North Africa region dominates this activity, recording a growth of 23%, reflecting the attractiveness of Mediterranean countries for tourism investments. Egypt tops the list with 143 hotels and 33,926 rooms, while Morocco follows in second place with 8,579 rooms. However, Morocco outpaces Egypt in terms of the percentage of rooms under construction, with more than 72% of projects in the construction phase.
Morocco aims to strengthen its position as a leading tourist destination through the 2023-2026 tourism roadmap, which aims to attract 17.5 million tourists by 2026 and increase the number of hotel rooms. The Moroccan government has launched several programs to boost investment, such as “Go Tourism” and “CAP Hospitality”.
Despite these challenges, Morocco is on track to strengthen its position in the African tourism market, with the 2023 World Cup presenting a major opportunity to develop the tourism infrastructure.
