Egypt
Egypt is a sovereign country in northeastern Africa, with the Sinai Peninsula connecting it to Asia. Renowned for its ancient civilization and iconic pyramids, Egypt plays a key role in Middle Eastern politics and culture and is one of the world’s most crucial seaports. Its strategic location along major trade routes enhances its geopolitical significance. Additionally, Egypt's rich historical heritage and vibrant cultural scene make it a prominent destination for tourism and historical exploration.
Country Overview
Egypt boasts one of the world’s longest histories, with its origins along the Nile Delta dating back to the 6th–4th millennia BCE. As a cradle of civilization, Ancient Egypt was pivotal in the early advancements of writing, agriculture, urbanization, organized religion, and centralized government. Egypt also played a significant role in early Christianity before embracing Islam starting in the 7th century.
Country Information
Egyptian citizens benefit from the country’s transcontinental positioning between Africa, Asia, and the Middle East.
Population:
109.5 million
Languages:
Arabic and English, with French widely understood
Economy:
Mixed, based on agriculture, manufacturing, and tourism
Currency:
Egyptian pound
Living in Egypt
Egypt, recognized as a cradle of civilization, was pivotal in the early development of writing, agriculture, urbanization, organized religion, and central government. With a rich history spanning over six millennia, the country is home to seven UNESCO World Heritage sites, including the Great Pyramids of Giza, Ancient Thebes, and the Great Sphinx of Giza. These ancient landmarks attract global tourists and contribute to a vibrant tourism industry.
Strategically located at the crossroads of Northwestern Africa and Southwestern Asia, Egypt is a key player in global trade, serving as one of the largest export markets in the Middle East. The Sinai Peninsula links Africa and Asia, positioning Egypt as a gateway to global markets for investors. Influenced by neighboring countries — Libya, Sudan, Israel, and Saudi Arabia — and bordered by the Mediterranean Sea to the north, Egypt maintains strong connections with Europe, enhancing its role as a dynamic investment hub.
To bolster its global integration, Egypt has recently made English education mandatory in schools.
Trade and economy
Cairo, the capital of Egypt and the largest urban area in Africa, serves as a vital communication hub for global air travel. It ranks as the second-wealthiest city on the continent according to the Africa Wealth Report 2023 and is home to the most billionaires in Africa.
The Suez Canal, owned by Egypt, is a crucial conduit connecting the Mediterranean Sea with the Red Sea, facilitating the import of goods from Asia.
Agriculture is a cornerstone of the Egyptian economy, complemented by significant contributions from manufacturing, energy, and services sectors.
Since 2004, the EU–Egypt Association Agreement has enabled free trade between Egypt and the European Union, fostering investment opportunities.
Economic reforms implemented under a USD 12 billion IMF program from 2016 to 2019 helped Egypt become one of the fastest-growing emerging markets before the COVID-19 pandemic.
With World Bank backing, Egypt is advancing its ‘Egypt Vision 2030’ program, which aims to expand investment opportunities by enhancing the knowledge economy, advancing digital transformation, fostering innovation, and developing small and medium enterprises and entrepreneurship.
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