Egyptian billionaire Samih Sawiris has held talks regarding a potential investment in Saudi Arabia’s tourism sector. Sawiris, founder of Orascom Development Egypt, was encouraged by the Saudi government’s recent measures related to yacht tourism, which he believes have made the market more competitive. He added that 2023 could be a landmark year for tourism in Egypt and praised the local currency’s devaluation for raising positive prospects for the sector. The real estate firm is set to launch promotional tours for US and Canadian buyers in the Gulf region, aiming to sell between 25% and 50% of its products to customers from North America and the Arabian Gulf.