AFRICA: EGYPT Focus


Meanwhile Egypt also possesses one of the most developed and diversified economies in the Middle East with sectors such as tourism, agriculture, industry and service at almost equal rates in national production.


The economy therefore is growing rapidly due in part to legislation aimed at luring investments, plus both internal and political stability and recent trade and market liberalisation. Egypt’s economy was highly centralised during previous


rulers, but under former President El- Sadat and current President Mubarak’s control it has opened up considerably. Between 2004 and 2008 Cairo aggressively pursued economic reforms to attract foreign investment and facilitate GDP growth.


The global financial crisis slowed these efforts but has not stopped them. Egypt’s GDP growth dropped to 4.7 per cent in 2009 and is currently around five per cent and the crisis has affected export


G3 I JANUARY2011 I PAGE 27


Tourismremains one of Egypt’smost


important sectors


within the economy andmore than 12.5 million visited the country in 2009


providing revenues of almostUS$12bn whilst the sector


employs about 12 per cent of the workforce.


orientated sectors such as manufacturing and tourism and Suez Canal revenues. Despite high levels of economic growth over the past few years, living conditions for the average Egyptian still remains poor.


Tourism remains one of Egypt’s most important sectors within the economy and more than 12.5 million visited the country in 2009 providing revenues of almost US$12bn whilst the sector employs about 12 per cent of the workforce. The


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92