Egypt Economic Research Highlights

Egypt Economic Research & Views

The growth trajectory of religious tourism in key markets

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With many emerging markets diversifying their tourism offerings, faith-based tourism is set to become a key segment for a number of markets worldwide. An estimated 330m people travel for religious reasons each year, according to the UN Word Tourism Organisation, forming a significant market for countries with attractions of spiritual or sacred value. These trips include pilgrimages as well as sightseeing trips to important historical and religious sites throughout the year. Additionally, a 2017 study reported that some...

How generative AI could transform education in the GCC

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As public and private entities across the world weigh how to utilise generative artificial intelligence (AI) technology, GCC countries are embracing the new tool as a way to transform their education sectors. The November 2022 release of ChatGPT by Silicon Valley-based start-up OpenAI unleashed a wave of excitement and concern surrounding the potential of generative AI to transform intellectual work. The tool is built on a large language model, trained on a massive amount of written data to generate human-like responses to prompts.

African gas suppliers look to meet Europe’s future LNG demand

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As the EU works to rebalance its gas supply away from Russia, African countries are expected to gain a larger share of the bloc’s liquefied natural gas (LNG) market in the coming years. Last month the EU announced that it would launch the first tenders for joint gas purchases in April, with contracts expected to be signed by June. This novel approach seeks to leverage the bloc’s purchasing power to secure supplies at lower prices ahead of the summer when EU countries are expected to refill their underground gas storage...

African start-ups were a bright spot in the global funding ecosystem in 2022

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As rising borrowing costs and recession concerns weighed on global venture capital investment in 2022, Africa’s start-up ecosystem attracted record funding. While most regions experienced double-digit declines in start-up funding last year, Africa posted gains in total investment volume, deals and number of investors. Start-up funding on the continent grew by roughly 5% in 2022, compared to a decline of 62% in Latin America and 39% in Asia Pacific. Globally, venture capital funding was down 35% at $445bn, albeit still well...

Global CEO Survey: What is on the horizon for emerging markets?

While the recovery period following the Covid-19 pandemic saw the unlocking of major capital in emerging markets, inflationary pressures, fluctuating commodity prices and geopolitical concerns have since tempered the global economic outlook for 2023. Balancing opportunity and risk has become a priority for shareholders and investors, but emerging markets have remained resilient. Some regions, such as the Gulf, are looking to funnel elevated hydrocarbons revenue into sustainable mega-projects, whereas leaders in Asia...

The competitive outlook for artificial intelligence in MENA

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As part of ongoing efforts to diversify their economies and build a platform for sustainable future growth, MENA nations are increasingly turning towards artificial intelligence (AI). A slew of recent investment and initiatives – primarily in academia and the government, but also in the private sector – has reinvigorated interest from industry leaders around the globe in the potential for AI to strengthen the efficiency and sustainability of MENA economies. AI could bring about an additional $320bn in economic growth in the MENA...

The role of industrial zones in SME growth in emerging markets

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As governments across Africa look to bolster the economic potential of small and medium-sized enterprises (SMEs), industrial parks and special economic zones (SEZs) are emerging as key enablers of their development. SMEs are the backbone of the global economy, particularly in emerging markets, where they make up 90% of all businesses and create 50% of all jobs. The impact is higher in Africa, where SMEs employ around 80% of the continent’s workforce. But while SMEs are a major economic driver, there is also significant room for...

Can smart cities solve Egypt’s housing shortage?

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Architects, property developers and other key stakeholders in Egypt’s construction sector are increasingly embracing digitalisation as the country looks towards smart city solutions to solve its housing shortage. Reflective of the broader sea change in the sector, in February Etisalat Misr, a subsidiary of UAE telecommunications group Etisalat, and US-based conglomerate Honeywell signed a partnership deal that will see the two firms collaborate on developing digital solutions for the Egyptian construction industry...

Private Equity and Venture Capital’s role in Africa’s economic recovery scenario

Bernardo Bruzzone, Africa Regional Editor at Oxford Business Group (OBG), recently held a discussion with Alexis John Ahyee, Executive Director for West and Central Africa of HEC Paris, and with Nadia Kouassi Coulibaly, Head of Research of African Private Equity and Venture Capital Association (AVCA). The topics that were touched upon in this discussion included the evolution in recent years of Private Equity and Venture Capital in the African continent and the role of these mechanisms as a source of financing in the context of...