Tourism has long been an integral and major contributor to Egypt’s economy – reaching 11.3% of GDP in 2010 – as well as a ready source of foreign currency. Nevertheless, the 14.7m international visitors seen in 2010 had decreased by more than a third to 9.1m by 2013. Almost as worrying was Egypt’s 85th position among global tourism destinations ranked by the World Economic Forum. Yet, the...
Egypt
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Chapter | Construction & Real Estate from The Report: Egypt 2014
Like many sectors in the country, construction has had more than its fair share of challenges in recent years. Yet in spite of the downside risks, the prospects for the building industry have not been brighter for decades. Continuation of new cities around Cairo, complete with offices and shopping malls, plans for 1m new affordable homes in the social housing segment, the expansion of the Suez...
Chapter | Telecoms & IT from The Report: Egypt 2014
The Egyptian telecoms sector is one of the most dynamic parts of the country’s economy, having weathered the economic slowdown over the past few years. Following the approval of a new universal licence in September 2014, the sector is set to see significant changes: a new mobile operator will be launched by legacy telco Telecom Egypt, the fixed-line market will be opened to mobile companies,...
Chapter | Industry & Retail from The Report: Egypt 2014
The manufacturing industry is a central part of Egypt’s economic engine, producing goods for the huge domestic market and for export across the world. Manufacturing industries accounted for 15.6% of GDP in the fiscal year 2013 (July 2012-June 2013). The sector was affected by the difficult post-revolution period, but as of 2014 the outlook seemed more positive. The sector’s recovery has been...
From a collection of ideas to cut the number of commuters in Egypt who use their cars to go to work, to multibillion-dollar plans to speed up ships using the Suez Canal; from establishing giant logistics depots to mastermind food supplies to the country, the region and maybe further afield as well, to the futuristic notion of having a two-tier train service with a 350-km per hour train...
The three years since the 2011 revolution have proven to be profitable for most of Egypt’s insurers, making it one of the few sectors to overcome the country’s economic malaise. Insurance companies collected LE13bn ($1.85bn) in premiums in the 2012/13 financial year, an increase of 18% from LE11bn ($1.56bn) in 2011/12. However, by most measures, Egypt’s insurance market remains small relative...