A report published by W Hospitality Group revealed on Thursday, that Egypt has topped the list of the top 10 African countries in terms of investments in hotel projects, driven by the growth of tourism.
The report highlighted that the hotel sector in Egypt has received significant investments in recent times, coinciding with government plans to increase the number of rooms to meet the growing demand from incoming tourism.
The 16th edition of the annual Hotel Chains Development Report in Africa, which includes insights from international and regional hotel chains, indicated that Egypt, Nigeria, and Morocco are among the top countries in terms of the number of rooms and hotel development in Africa, according to Business Insider Africa.
The report also pointed out the existence of outstanding hotel projects under development in various stages across Africa, including planning, construction, and pre-opening phases.
The report confirmed that the hotel sector in Africa has developed significantly over the years, positioning the continent as one of the world’s leading regions in terms of hotel growth.
However, the report noted that despite this development, the hotel industry faces challenges such as economic difficulties, political instability, and natural and man-made disasters, which often make headlines, creating negative perceptions of some African countries and, in some cases, the continent as a whole.
The report also highlighted that among the countries included in the list were Nigeria, Morocco, Tunisia, Kenya, Algeria, Ghana, South Africa, Ethiopia, and Cape Verde. It mentioned that major hotel chains have signed agreements in 41 African countries.
Main image credit: Stories from Hilton.
