KASI Provides Consumer Insights Into African Behavior
Business Promotion in Egypt
The Egyptian Economy
A varied economic presence in Egypt allows the country to attract foreign investors by using government-sanctioned policies to help facilitate the growth of outside businesses within its borders. World-renowned landmarks coupled with a growing population and cheap labor provides a recipe for success when considering investment. Investments center on food-processing and agriculture, tourism, natural gas, telecommunications and media. With these ideas firmly in place at the nucleus of the Egyptian economy, investors can be confident in bringing their businesses abroad.
The Egyptian Agriculture
96 percent of Egypt’s landscape is desert and only around 3 percent of the remaining area is used for cultivation. Employing around 25 percent of the labor force, the industry thrives with fertile land that is harvested more than once a year. With heavy investment in irrigation, including fertilizers and pesticides, and government-sanctioned oversight of the industry allows it to thrive. Chief crops include cotton, corn, rice, wheat and fava beans. With a summer and winter harvesting season there is no shortage of skilled labor in this region. The completion of the Aswan High Dam in the 1970s allowed farmers to rely less on weather condition affecting their crops and allowed for distribution and regulation of water throughout the region.
The Egyptian Infrastructure
Egypt has a strong infrastructure that is built to meet investors’ needs. With three active ports, a railway system, connected roads and around 90 airports there are plenty of options to move around the region. Telecommunications and power are state-run entities that provide services to the population. With a $4.5 billion dollar investment in a monorail system in Egypt’s capital of Cairo, the government has dedicated many resources to improving the functionality of these systems to ensure its people and businesses can grow and prosper.
The Egyptian Tourism
Egypt is steeped in history and this is evident by its abundance of world-renowned landmarks that continue to be explored. With a strong beachfront resort community and breathtaking oceanfront, the hospitality industry is a staple in the fabric of Egyptian tourism. Visitors can cruise the Nile or take part in the rich history of the region. With over 15 million tourists expected to visit Egypt in 2020, there are plenty of opportunities for investors to bring their businesses to the forefront of a cultural hotbed that is key contributor to a growing economy.
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