According to a recent study the hotel industry in Egypt, Morocco and Tunisia offer investment opportunities in sustainable tourism development.
A study analyzing sustainable products, services and technology in the hospitality sector of Egypt, Morocco, and Tunisia identified investment opportunities in these countries for sustainable tourism projects. The report was published by the initiative Best-Med (Business Eco-Sustainable Tourism in the Mediterranean Area).
According to the findings investment opportunities are available mainly in three areas: renewable energy market, renovation, and water and waste treatment. Sustainable energy within the hospitality industry seems to be the most promising area, stated the study quoted by Econostrum.info.
Egypt thanks to cultural tourism attracts a great deal of environmentally conscious tourists. Industry professionals are thus more inclined to green investments in hotels. The government has supported green initiatives with a number of measures. Renewable energy was however identified by the study as an area where Egypt lags behind.
Morocco entered the mass tourism market more recently and therefore has fewer problems with energy efficiency in hotels. The sector of ecological technologies offers however several investment opportunities. The Moroccan government signed several agreements with domestic operators and foreign investment mainly in Essaouira, Tangier and Marrakech accumulated EUR 208 million.
Tunisia has been a mass tourism destination for over thirty years. The government recently upgraded the tourist accommodation as a part of PMNH program. A new regulatory framework and incentive tools facilitate the renovation and dissemination of thermal solar and photovoltaic equipment.