{"id":114334,"date":"2026-04-20T00:00:00","date_gmt":"2026-04-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/menaplus\/?p=114334"},"modified":"2026-04-20T13:47:40","modified_gmt":"2026-04-20T13:47:40","slug":"sawiris-al-nowais-eye-moroccos-tourism-industry","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/20\/sawiris-al-nowais-eye-moroccos-tourism-industry\/","title":{"rendered":"Sawiris, Al Nowais eye Morocco\u2019s tourism industry"},"content":{"rendered":"\n<p class=\"tag-border-left\">Watch this space<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- Sawiris, Al Nowais eye Morocco\u2019s booming tourism sector: <\/strong>An Egyptian-Emirati consortium is planning to invest EUR 200 mn in the first phase of a large-scale tourism project in Essaouira, Morocco, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/128886\/%D8%AA%D8%AD%D8%A7%D9%84%D9%81-%D9%85%D8%B5%D8%B1%D9%8A-%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%8A-%D9%8A%D8%B6%D8%AE-200-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D9%8A%D9%88%D8%B1%D9%88-%D8%A8%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%D8%B3%D9%8A%D8%A7%D8%AD%D9%8A-%D9%81%D9%8A-%D8%A7%D9%84%D9%85%D8%BA%D8%B1%D8%A8\/\">a report suggests<\/a>. The consortium includes Egyptian hospitality group Sunrise and b\u2019naire <strong>Samih Sawiris<\/strong>, and the UAE-based <strong>Al Nowais Group<\/strong>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The details so far:<\/strong> The partners are looking to build out 800 hotel rooms as well as retail and entertainment space over a five-year period. The first 270-room hotel is reportedly slated to be ready by the end of 2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Why Morocco? The kingdom\u2019s tourism momentum \u2014 and resilience \u2014 are doing much of <\/strong><strong>the selling. <\/strong>Morocco welcomed a record 19.8 mn visitors in 2025, up 14% y-o-y, and is targeting more than 26 mn tourists before 2030. Tourist arrivals to Morocco <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/08\/moroccos-tourism-industry-had-a-good-1q-as-others-in-the-region-struggled\/\">rose<\/a> 18% last month despite a region-wide tourism drop in the wake of the US-Israel war on Iran. The March surge drove an overall 7% y-o-y rise in 1Q arrivals to Morocco, with 4.3 mn people touching down.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>#2- Speaking of travel and tourism: Hajj flight season has started<\/strong>, with Saudi \u2014 the kingdom\u2019s flagship carrier \u2014 saying on Sunday that the first flight carrying pilgrims for the upcoming 2026 season had arrived in Jeddah. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<p class=\"tag-border-left\">Setting the record straight<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>Lebanon\u2019s next liquidity lifeline could come from the World Bank (WB) \u2014 not the IMF<\/strong>, Lebanese Finance Minister Yassine Jaber <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/128945\/%D9%84%D8%A8%D9%86%D8%A7%D9%86-%D9%8A%D9%86%D9%81%D9%8A-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D8%A7-%D9%85%D8%B9-%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D8%B9%D9%84%D9%89-%D8%AA%D9%85%D9%88%D9%8A%D9%84-%D8%A8%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1\/\">said on Friday<\/a>. Previous reports had suggested the country might be looking for as much as USD 1 bn in emergency funding, but from the IMF. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The World Bank is open to the idea, but it\u2019s a bit early to talk about the size of a facility<\/strong>, President Ajay Banga <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/129080\/%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A-%D9%84-%D8%A7%D9%84%D8%B4%D8%B1%D9%82-%D9%85%D8%B3%D8%AA%D8%B9%D8%AF%D9%88%D9%86-%D9%84%D8%AF%D8%B9%D9%85-%D9%84%D8%A8%D9%86%D8%A7%D9%86-%D8%A8%D8%B9%D8%AF-%D9%88%D9%82%D9%81-%D8%A7%D9%84%D8%AD%D8%B1%D8%A8\/\">said<\/a> a day later. Officials will first need to take stock of the damage and reconstruction needs in the wake of Israel\u2019s latest war on the country. Lebanon lined up a USD 200 mn package from the bank last week to shore-up its emergency safety net program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<p class=\"tag-border-left\">Data point<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><a id=\"wwtt3\"><\/a><strong> USD 50 bn \u2014 that\u2019s the value of lost crude production since the start of the Iran war<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/how-50-days-iran-war-led-loss-50-billion-worth-oil-2026-04-17\/\">Reuters<\/a> calculations. The data point confirms what we already knew in our guts: This is the largest energy disruption to the global energy market in modern history. More than 500 mn barrels of crude and condensate were shaved off the global \u2060market in just 50 days, the equivalent of 5 days of global consumption of crude. Gulf countries\u2019 production alone lost about 8 mn bb \/ d in March. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plus: The war in the Gulf has seen oil producers lose USD 50 bn worth of crude receipts<\/p>\n","protected":false},"author":1,"featured_media":114381,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2638],"tags":[2539,2538,2614,2605,2723,2700,2637],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-114334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking","tag-energy","tag-enterpriseam","tag-lebanon","tag-morocco","tag-oil-watch","tag-tourism","tag-what-were-tracking","wpautop","entry"],"acf":{"mongo_id":"7f3a11c6-4f24-4683-b2dd-1e94236b4754","order":"11","is_powered_by":false,"story_type":"1","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"Sawiris, 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