Egypt Moves to Boost Tourism Investment in Nature Reserves

Diving at Nabq Nature Reserve (Environment Ministry)
Diving at Nabq Nature Reserve (Environment Ministry)
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Egypt Moves to Boost Tourism Investment in Nature Reserves

Diving at Nabq Nature Reserve (Environment Ministry)
Diving at Nabq Nature Reserve (Environment Ministry)

Egypt is seeking to turn Nabq Nature Reserve in South Sinai into a model for sustainable ecotourism, as part of a broader drive to develop protected areas and attract tourism investment.

Minister of Local Development and Environment Manal Awad reviewed the proposed integrated management model with the Green Sharm project team and an investment company, the ministry said.

The model presents a new vision for managing Egypt’s nature reserves and proposes transforming Nabq into a sustainable ecotourism destination.

It aims to address existing gaps in the management of protected areas through an integrated system based on an institutional partnership between the state and the private sector, Awad said.

The approach seeks to balance the protection of sensitive ecosystems with the empowerment of local communities and the attraction of responsible investment capable of delivering sustainable economic returns.

“Nabq Nature Reserve provides an outstanding setting for applying this approach because of its exceptional environmental and tourism value,” Awad said in a ministry statement on Tuesday.

“It combines marine and desert ecosystems, mangrove forests, coral reefs and unique biodiversity, making it one of the country’s most important natural destinations and well placed to offer a leading Egyptian model for sustainable ecotourism.”

Egypt is relying on the diversity of its tourism destinations to attract more visitors. Previous campaigns have highlighted the range of tourism experiences available in the country, including cultural, environmental, medical, beach, sports, safari and conference tourism.

Egypt aims to attract 30 million tourists by 2030.

Awad said the Nabq model rests on several main pillars, led by the creation of a single destination management entity to coordinate all tourism, environmental, community and investment activities.

The entity would seek to improve management efficiency and ensure a unified development vision. The model would also empower local communities by integrating them as key partners in value chains and providing sustainable employment opportunities.

It would also aim to attract capital committed to sustainability standards and long-term returns.

Nabq Nature Reserve lies at the far southeastern tip of the Sinai Peninsula on the Gulf of Aqaba and covers about 600 square kilometers.

It is known for its biodiversity and natural wealth, including birds, animals, plants and marine life, and hosts a wide range of diving activities.

The ministry statement outlined a three-stage implementation roadmap.

The first stage, covering the first two years, would focus on establishing the institutional entity, preparing infrastructure and launching quick-impact projects, including eco-hotels and guided tours.

The second stage would involve activating major investments and expanding programs to empower local communities.

The final stage would seek to achieve financial sustainability, expand the project and develop the destination into a global brand.

Awad said the Nabq model could generate environmental benefits by securing sustainable funding for conservation efforts and reducing the carbon footprint of tourism activities.

It could also deliver social benefits by improving the quality of life of local residents and creating direct and indirect jobs, as well as economic gains by increasing tourist overnight stays and diversifying Egypt’s tourism offerings.

She said the model could be replicated and expanded across several Egyptian nature reserves, helping to create a national network of protected areas that generate economic value while remaining conserved.

Egypt has about 31 nature reserves across the country, according to the Egyptian Environmental Affairs Agency.

Some are major tourism destinations, particularly for diving, safari and ecotourism enthusiasts. They include the Gabal Kamel Meteorite Protected Area in New Valley Governorate, Wadi al-Gemal in the Red Sea Governorate, Siwa in Matrouh Governorate, and the Wadi al-Rayan and Lake Qarun protected areas in Fayoum.



IMF Says Lebanon Economic Activity to Contract Sharply in 2026 as Conflict Weighs

FILE PHOTO: A view of the International Monetary Fund logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier/File Photo
FILE PHOTO: A view of the International Monetary Fund logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier/File Photo
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IMF Says Lebanon Economic Activity to Contract Sharply in 2026 as Conflict Weighs

FILE PHOTO: A view of the International Monetary Fund logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier/File Photo
FILE PHOTO: A view of the International Monetary Fund logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier/File Photo

The International Monetary Fund said on Friday that Lebanon's economic activity is expected to contract significantly in 2026 ‌as the ‌conflict in ‌the ⁠Middle East and broader ⁠regional security tensions continue to damage economic activity, infrastructure ⁠and living conditions, Reuters reported.

The ‌IMF ‌said inflation ‌remained in ‌the double digits and the country's current account deficit ‌had widened, largely due to higher ⁠energy ⁠costs, while infrastructure damage, internal displacement, and deteriorating living standards had added to economic pressures.


Oil Prices Fall on Easing Fears Over Saudi Supply Disruption

FILE PHOTO: Vessels near the Strait of Hormuz, as seen from Musandam, Oman, September 2, 2026. REUTERS/Stringer/File Photo
FILE PHOTO: Vessels near the Strait of Hormuz, as seen from Musandam, Oman, September 2, 2026. REUTERS/Stringer/File Photo
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Oil Prices Fall on Easing Fears Over Saudi Supply Disruption

FILE PHOTO: Vessels near the Strait of Hormuz, as seen from Musandam, Oman, September 2, 2026. REUTERS/Stringer/File Photo
FILE PHOTO: Vessels near the Strait of Hormuz, as seen from Musandam, Oman, September 2, 2026. REUTERS/Stringer/File Photo

Oil prices fell 2% on Friday, extending losses for a third straight session as easing concerns over Saudi supply disruptions outweighed anxiety about a widening of conflict across the Middle East.

Brent crude futures fell by $2.14, or 2%, to $102.68 a barrel by 0806 GMT. US West Texas Intermediate futures fell $1.83, or 1.8%, to $100.08, Reuters reported.

Benchmark Brent prices are on track for their first weekly loss in three.

Prices climbed to close to four-month highs earlier in the week after sources said crude loadings ⁠at Saudi Arabia's Red Sea export hub of Yanbu had been suspended and Riyadh cancelled some deliveries to Europe after its East-West pipeline was damaged in an attack last week.

However, prices have cooled since on reports that Saudi Arabia was seeking to restore about half the capacity of its East-West oil pipeline within days.

Saudi Arabia has sold about 60 million barrels of crude from its Gulf port of Ras Tanura inside the Strait of Hormuz for loading via ship-to-ship transfer at the Omani port of Sohar this month and next, multiple trade sources said on Friday.

The rebound in Saudi Aramco's exports from inside the Gulf to between 1 million to 1.5 million barrels per day on average, similar to or slightly higher than August's levels, has cooled global oil prices as it could make up for some of the ⁠volume lost at its port of Yanbu.

Chinese and South Korean refiners are among the top buyers of the spot supplies, while some volumes will be going to India and Japan, said the sources, who spoke on condition of anonymity.

"Recent efforts ‌to restore Saudi export capacity have reduced some of the immediate supply ‌anxiety," said Priyanka Sachdeva, head of market insights at Phillip Nova.


ECB's Lagarde Keeps Door Open to Early Exit

European Central Bank (ECB) President Christine Lagarde addresses a press conference after a meeting of the Governing Council of the European Central Bank (ECB) in Berlin on September 10, 2026. (Photo by John MACDOUGALL / AFP)
European Central Bank (ECB) President Christine Lagarde addresses a press conference after a meeting of the Governing Council of the European Central Bank (ECB) in Berlin on September 10, 2026. (Photo by John MACDOUGALL / AFP)
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ECB's Lagarde Keeps Door Open to Early Exit

European Central Bank (ECB) President Christine Lagarde addresses a press conference after a meeting of the Governing Council of the European Central Bank (ECB) in Berlin on September 10, 2026. (Photo by John MACDOUGALL / AFP)
European Central Bank (ECB) President Christine Lagarde addresses a press conference after a meeting of the Governing Council of the European Central Bank (ECB) in Berlin on September 10, 2026. (Photo by John MACDOUGALL / AFP)

European Central Bank President Christine Lagarde on Friday kept the door open to leaving her post early, replying "we'll see" when asked if she would remain in the position until her term ends ‌in October 2027.

"I ‌leave in ‌2027," ⁠Lagarde told Irish ⁠national broadcaster RTE in response to a question on rumors of her early resignation that have persisted for most ⁠of this year.

When asked ‌if ‌that meant October 2027, ‌Lagarde replied: "We'll see."

"What I ‌can tell you at this point is that whatever the time, it will be ‌handled in the most professional way as ⁠it should ⁠be," she added.

Sources told Reuters this week that France would back Dutchman Klaas Knot to succeed Lagarde as part of a bargain in which a French candidate would be picked for chief economist.