Egypt is well known for its ancient wonders and rich cultural heritage. The country is a popular tourist destination and also a promising market for savvy investors. With a population of over 100 million and a strategic location along the crossroads of Africa, Asia, and Europe, Egypt has a wealth of untapped markets and investment opportunities across various sectors. If you are planning to start your business or invest in Egypt, there are a lot of competitive advantages that the country promises. Let’s see what makes investing in Egypt a wise decision and what the growing sectors are in the region.
Top 5 reasons to invest in Egypt
Here are the top five reasons that prove why Egypt is ideal for setting up your business or making an investment.
Large consumer market and strategic location
Egypt has become a prominent consumer market in the MENA region mainly due to its dense population and access to global markets, including the USA, Middle Eastern and African countries. The country has a unique geographical location, thanks to the Suez Canal, which connects the East and West.
Egypt has a world-class infrastructure with well-developed urban areas, commercial ports, railways and roads. The country also has large-scale projects for transport, energy and urban development.
Stable economic growth
Egypt is one of the few countries in Africa that demonstrates very positive and stable economic growth. It has several policies aimed at attaining sustainable growth to create an attractive and competitive business environment.
Top tourist destination
The amazing landscapes, pyramids, cultural riches and the Nile make Egypt a must-visit destination for people around the globe. The tourism industry contributes a major part to the country’s income.
Large, trained labour force
Being the most populous Arab country, Egypt also has the largest labour pool in the region. The country is known for having an educated and skilled labour force.
Investment opportunities in Egypt
Since you have seen the top reasons to choose Egypt for investment, let’s see the sectors that ensure profitability for your business. The following are some of the fastest-growing sectors in Egypt that you can consider for your investment plan:
Manufacturing and industrial sector
The manufacturing and industrial sector in Egypt boasts phenomenal growth as the government strives to develop industrial sectors and increase export rates. They have implemented many reforms to attract foreign investment and also provide a convenient business registration process. Additionally, the establishment of industrial zones provides infrastructure and logistical support to businesses. Egypt’s strategic location also offers easy access to key international markets, making it an ideal manufacturing hub for export-oriented industries.
Energy and renewable resources
Egypt has been demonstrating notable achievements in the field of energy and renewable resources. The country has several projects in the pipeline for producing energy from natural gas and renewable energy sources like solar and wind power. The favourable regulations to attract investment in the energy sector make Egypt a perfect location for investing in energy infrastructure.
Tourism and hospitality
It’s needless to say that the tourism sector in Egypt is flourishing as the country is known for its great cultural civilization and magnificent monuments. It is also a popular destination for adventure, eco, sailing, diving, health, cultural and religious tourism. So, if you are planning to invest in the tourism and hospitality sector in Egypt, think no further. The government has made significant investments in tourism infrastructure creating numerous opportunities for setting up hospitality businesses. Furthermore, the country’s location makes it a global hub for transit tourism which also boosts the potential for business growth.
Egypt has a sustainable agriculture sector and is one of the primary producers of many crops in the Middle East region. Being a major producer and exporter of agricultural products, the country unlocks several opportunities for investments in aquaculture, horticulture and agricultural technology. So, investors can utilize the consumer market and high demand for value-added products.
Infrastructure and real estate
Egypt’s noteworthy economic growth and urbanization have led to a steady increase in investments in the field of infrastructure and real estate. Its ongoing projects to fill infrastructure gaps and the great demand for residential construction testify to the potential for investments in infrastructure development, affordable housing, logistics centres, and smart city initiatives.
Healthcare in the country has a long history dating back to the pharaonic times. The Egyptian government also implements several reforms in the national healthcare system to attain a reputation as a well-known destination for health tourism and investment.
Considering the economic stability, strategic location and steady growth in the varied sectors, Egypt is undoubtedly one of the best countries for business setup and investment. Also, the government’s consistent efforts to attract foreign investment and a large consumer base create a conducive environment for business growth and profitability.