Investment plays a critical role in the progress of the tourism industry. Understanding the perspectives of tourism real estate developers and major investors is essential, as their decisions and insights shape the success of tourism projects. This study analyzes the critical success factors for integrated tourism development projects from the viewpoints of real estate developers and investors in Egypt’s Red Sea region. By conducting thematic analysis of interviews with eight experts, the study identifies key factors influencing the success of integrated tourism development projects. The findings reveal that, according to the investors perspectives, the ranking of factor groups is as follows: regulatory and administrative factors, tourism development and urban planning factors, collaboration and market responsiveness factors, economic and financial factors, infrastructure and accessibility factors, and environmental factors. The results contribute to the literature on tourism investment and provide insights for future tourism development projects aiming to succeed in similar coastal environments.

tourism investment; circular society; coastal tourism; thematic analysis; NVivo

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