11 hours ago
Tourism in Times of Crisis: How Innovative Financing Can Make the Difference
As tensions escalate in the region amid the confrontation between Iran and Israel, the Egyptian government's formation of a 'crisis committee' led by the Prime Minister reflects its political and administrative preparedness. Yet alongside security, another equally vital front demands attention: the economic front, particularly sectors like tourism and entrepreneurship, which form the backbone of Egypt's real economy.
Tourism in Egypt employs over 2.4 million citizens and contributes around 12% of the country's GDP. However, it is often viewed too narrowly—reduced to luxury hotels and famed archaeological sites. In reality, the sector thrives on the vitality of small and micro-enterprises: tour guides, family-run heritage guesthouses, local artisans, and digital service providers form the core of Egypt's tourism ecosystem.
Moments of crisis test not only the resilience of the state but also the flexibility of its economic model and its ability to support vulnerable yet crucial sectors.
This is where the 'Hafez' platform, launched by the Ministry of Planning and Economic Development and International Cooperation, proves its value. As a comprehensive digital gateway, it offers over 90 financial and technical services from 44 international institutions. With more than 18,000 entrepreneurs already engaged, Hafez presents real opportunities for financing, mentorship, and access to regional and global markets.
Yet a platform alone is not enough. Its impact lies in how effectively it is deployed—to reach young entrepreneurs across Egypt's governorates, empower community-based tourism initiatives, and unlock underutilised destinations from Sohag to Nuweiba, from Delta villages to the oases of the Western Desert.
Recent partnerships between the government and leading business councils—such as the Federation of Egyptian Industries, CEEBA, the British Chamber, the Egyptian Businessmen's Association, and the Young Businessmen's Association—signal important progress. But these efforts need to be bolstered with complementary tools: smart grants, flexible credit lines, responsive mentorship, and integrated promotional strategies tailored to times of crisis.
If the Grand Egyptian Museum symbolises what Egypt can build over decades, then the Hafez platform—and the dynamic, inclusive vision it embodies—represents what Egypt can preserve in a moment.
Crises are not merely stress tests; they are reflections. They reveal not only where our strengths lie but also what remains vulnerable. Egypt has no shortage of youth, creativity, or entrepreneurial spirit. What's needed now is greater confidence in the energy of its people—who must be recognised not just as beneficiaries of policy, but as co-creators of resilience and recovery.
Rasha AlKady – Architect, Tourism and Entrepreneurship Strategist, and a Member of the Entrepreneurship Secretariat at the National Front Party
