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Introduction | | Information |
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At
the crossroads of Africa, Asia and Europe, Egypt has always been the
gateway for business in the Arab world, Africa and the Mediterranean.
Because of this central geographical location, Egypt has always been
the center for economic, politic and cultural activities for the Arab
world.
It is reflected on the prosperity of its civilization.
The Egyptian government has introduced many
changes that allowed its economy to integrate with the world economy.
Today, Egypt established a market-based and liberalized and open
economy that includes significant strength in software, tourism, food
industries, cement, steel, oil refineries, agriculture products and
many others.
By investing in Egypt, businesses can profit from the ever growing
market and penetrate the market of the surrounding areas such as the
Gulf and Europe.
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President : Hosni Mubarak
Government : Parliamentary democracy
Population : 62 Million
Area :
1 Million sq.km
Inflation : 3.3%
Location : North Africa
Capital : Cairo
Industry :
Automotive, aerospace,
Communication, Gas,
Steel, Oil, Technology
Language : Arabic
Time :
2 hours ahead of
Greenwich Mean
Time
Currency : Egyptian Pound (EGP)

Planetarabia.com
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Another
great Egyptian achievement is the Egyptian stock market, which is
currently the cheapest of all emerging markets indicated by a P/E
ratio of 9.3. Most stock prices are undervalued making them a
very attractive purchase for investors seeking a high return on
stock. Egypt stock market ranks third compared to 34 other
emerging markets.
Numerous investment banks weigh Egypt as a low risk area.
The Pharaohs, the Greeks, the Romans, the Arabs, the Turks and
the British have all ruled Egypt, and modern Egypt is influenced by
all of these and the 20th century.
Environment
Egypt stretches over more than a million square km in the top
of the north east corner of Africa. More than 90% of the land
area is barren desert though, which has induced 99% of the population
to squish into just 5% of the total land area, the fertile Nile
Valley, Delta and the newly created cities and villages.
Egypt lay on the Mediterranean Sea in the north and shares borders
with Libya in the west, Sudan in the south, and the Red Sea and
Israel in the east.
Across the Suez Canal, is Sinai. This region slopes up to the high
mountains of Mt Catherine (at 2642 metres is Egypt's highest point).
The Red Sea area has many newly created resorts, golf courses and
diving clubs and schools. The Red Sea itself supports sharks,
stingrays, turtles, dolphins, colourful corals, sponges, starfish and
various molluscs.
Costs & Spending
Egypt is terrific value. It is possible to spend as little as
US$10-15 a day if you're prepared to stay in the cheapest hotels
and hostels, eat local vendors' food, limit yourself to one
historic site a day and travel on packed third-class trains. The
major expense for the travelers in Egypt is transport and site
entry - the latter has taken some severe jumps in recent years.
Entry to the Egyptian Museum in Cairo will cost you around US$7
and the recently opened Tomb of Nefertari near Luxor is a hefty
US$60.
Be aware that pickpockets operate around tourist sites, so
avoid carrying money in your back pocket. Well-known brands of
travellers' cheques will be honored everywhere, although having travelers' cheques in US dollars, UK pounds or in Deutschmarks
will prove the most hassle-free. American Express, Visa,
MasterCard, JCB and Eurocards are accepted at various stores and
hotels displaying the appropriate signage. Visa and MasterCard can
be used to obtain cash advances at Banque Misr and Bank of Egypt
branches.
A service charge of 12% applies in restaurants and hotels, and
a sales tax of 5- 7% is also levied. Additionally, you might find
yourself paying a further 1-4% tax on upper-end accommodation, so
it is possible to find that a 23% tax has been added to the price
you've been quoted for a mid-range or top-end hotel room.
Bargaining is a part of life in Egypt and virtually everything
is open to negotiation. This includes your room for the night,
your lunchtime roadside snack and the felucca you ride down the
Nile in. The few rules to observe in the bazars are these: never
offer a price that you're not prepared to pay, get a feel for the
real price before you begin haggling, take your time and enjoy the
friendly sport of it (which might include a cup of tea from the
vendor), and remember that you're never obliged to buy anything -
you won't offend anyone.
Egypt's climate is hot and dry most of the year. During the winter
months - December, January and February - average daily temperatures
stay up around 20 degrees Celsius (68 degrees Fahrenheit) on the
Mediterranean coast and a pleasant 26 degrees Celsius (80 degrees
Fahrenheit) in Aswan. Maximum temperatures get to 31 degrees Celsius
(88 degrees Fahrenheit) and 50 degrees Celsius (122 degrees
Fahrenheit) respectively. Winter nights only get down to 8 degrees
Celsius, a very Egyptian version of chilly. Alexandria receives the
most rain with 19 cm each year, while Aswan is almost bone-dry with
just 2 mm annually. Between March and April the khamsin blows
in from the Western Desert at up to 150 km per hour.
Best time to visit Egypt
When to go to Egypt will depend a lot on where you want to go.
You'll find wandering around Upper Egypt and Luxor uncomfortably hot
in the summer months (June to August) and winter is definitely the
best time to be in these areas. Summer is also the time when the
Mediterranean coast is at its most crowded. However, winter in Cairo
can get pretty cool, so spring and autumn are the best times to be
there. Ideally, mid-March to mid-April would be the best time to come
to enjoy the warm days without the crush of bodies on the beaches and
the midday heat of high summer.
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Travel Facts
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Visas:
Health risks:
Time:
Electricity:
Measurements:
Tourism:
Currency:
Costs guide
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visitors to Egypt are required to have a visa, except for citizens of
Malta and Arab countries
None
2 hours ahead of
GMT/UTC
220V, 50 Hz
Metric
Approx 3 million visitors per year
Egyptian Pound (EGP)
- Budget meal: US$3
- Restaurant meal: US$7
- Budget bed: US$4
- Hotel ***: US$37 (double)
Egypt is terrific value.
It is possible to spend as little as US$10-15 a day
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