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Tourism sector represents 10% of world’s GDP: UNWTO

Mohammed Al Muhairi, undersecretary for tourism at the UAE Ministry of Economy and chairperson of the Middle East committee of the World Tourism Organisation (UNWTO), said that the tourism sector now accounts for 10% of the world’s gross domestic product (GDP). He added that the tourism sector accounts for 11% of the world’s total labour …

Nihal Samir

GDP to grow by 5.9% in 2022

A report issued by Statista expected Egypt’s GDP to grow by 4.4% this year, up from 4.1% in 2017. According to the report, the country’s GDP growth rate will grow strongly in 2019 at 5.3%, then by 5.76% in 2020 compared to 2019. According to the report, GDP will grow further in 2021. The market …

Mohamed Alaa El-Din

Economic experts view Egypt’s economy in 2018 with cautious optimism 

For most of the last decade, Egypt has been squeezed between turbulence and uncertainty, and a deteriorating economy. Various challenges had to be addressed,  from political unrest and declining tourism to foreign currency and fuel shortages. To correct these structural issues within the economy, the Egyptian authorities adopted an economic reform programme in 2016. Consequently, …

Mohamed Samir

5.2% GDP growth in Q1 2017: minister of planning

Minister of Planning Hala Al-Saeed announced, at a Wednesday press conference, that Egypt’s gross domestic product (GDP) growth registered 5.2% in the first quarter (Q1) of fiscal year (FY) 2017/18. Al-Saeed explained that GDP is on a growth path due to the fact that an approximately 3% increase in investment inflows was achieved during the …

Mohamed Samir