Country Insight: Egypt
The Egyptian economic recovery is struggling to gain traction following a robust performance in 2020. We expect the economy to expand by just over 3% in 2021, with a softening in consumer demand following a remarkable, policy-induced performance over the past two years. However, Egypt is still host to some of the continent’s brightest consumer spending hotspots and has seen an improvement in its investment environment due to favourable reforms.
What you will learn from this report:
- Cairo is by far Africa’s largest city consumer market while Mahalla el-Kubra is estimated to have the highest spending per capita in North Africa.
- While we expect tourism spending to increase by around 46% this year, the sector is only expected to recover to 2019 levels by 2024.
- Political rights issues will not materially affect Egypt’s relationship with major Western partners as Cairo remains a major purchaser of arms from these countries.
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