The family members pictured were Mr. Hishm Talaat Moustafa, his wife Hala, his son Tarek Hisham Talaat and his fiancée, his son Omar Hisham Talaat and his wife, and his son Mohamed Hisham Talaat Moustafa.
He asserted that tourism represents one of the most
important pillars of the Egyptian economy due to its direct impact on foreign
currency inflows, explaining that increased hard currency resources help
stabilize the economy and lower inflation by balancing dollar inputs and
outputs.
Hisham Talaat further emphasized the significant success of the
Grand Egyptian Museum (GEM) opening, noting that this, combined with the
comprehensive development of the country's tourism infrastructure, has had a
direct and positive impact on the hotel sector. He highlighted that the price
of a hotel night had dramatically increased, soaring to $1,050 in Aswan and
approximately $1,100 in Cairo. Mr. Moustafa stressed that these price points
are unprecedented in Egyptian tourism history over the last two decades.
He pointed out that this rapid ascent represents a three-to-four-fold
increase compared to the revenue levels prior to the GEM's inauguration. This
impressive leap signals a significant surge in foreign currency flows from
tourism, providing a powerful boost to Egypt’s balance of payments.
Addressing the press conference, attended by Prime Minister Dr.
Moustafa Madbouly and a number of prominent investors, Hisham Talaat Moustafa explained
that the development of roads, infrastructure, and the area surrounding the
Pyramids has created a qualitative shift in Egypt's global image, directly reflecting
on the performance of the tourism sector across all its components.
He added that these developments would have a wide-ranging
economic impact extending to the industrial and service sectors linked to
tourism, noting that Egypt has already begun achieving unprecedented records in
hotel revenues and tourist occupancy.
The TMG CEO also drew a parallel with the experience of Sharm
el-Sheikh after it hosted the Peace Conference. He asserted that the city
achieved a strong recovery following a period of decline that had stretched
over three to four years. He noted that tourist occupancy rates subsequently
climbed to 85%, while the average hotel night price quadrupled, underscoring
the direct, positive influence that major events and national projects have on
Egypt's tourism sector.
Hisham Talaat Moustafa concluded with the expectation that the opening of the Grand Egyptian Museum will generate a similar, or even more profound, effect on occupancy rates across various Egyptian tourist destinations in the near future.