Egypt is one of the most populous countries in Africa, which is proud of huge pyramids, vast deserts and great kings from ancient civilization. Ancient civilization heritage, climate, unique landscapes and plenty of activities including Nile cruises, diving in a Red Sea, exploring pyramids, desert safaris and similar makes the country very attractive for tourist from all the world.
Egypt is also widely regarded as an important political and cultural nation of the Middle East.

 

Country details

Area: 1,001,450 sq km Population: 81,713,520 (July 2008 est.). Capital city: Cairo, with approximately 16 million inhabitants. Larger cities: Alexandria, Giza, Port Said, Suez. International airports: There are 8 airports in Egypt, including 5 international airports of Cairo, Luxor, Ophira, El Arish and Hurghada. Most of the airports in Egypt are located in the eastern side of the country. Monetary unit: Egyptian pound (EGP). Exchange rates: Egyptian pounds per US dollar - 5.5 (2008, November). Egypt Time difference: GMT + 2 ( GMT + 3 in summer) Border countries: Gaza Strip 11 km, Israel 266 km, Libya 1,115 km, Sudan 1,273 km.

Terrain: vast desert plateau interrupted by Nile valley and delta. Lowest point – Qattara Depression – 133 m, highest point – Mount Catherine 2,629 m. Water resources: The Nile enters Egypt from Sudan and flows north for 1,545 km to the Mediterranean Sea. Lake Nasser, a huge reservoir, extends south across the Sudan border. Egypt is bordering the Mediterranean Sea and the Red Sea. Although Egypt has 2,450 km of coastline, two-thirds of which are on the Red Sea, indentations suitable as harbors are confined to the delta. The Isthmus of Suez, which connects the Sinai Peninsula with the African mainland, is traversed from the Mediterranean to the Gulf of Suez by the Suez Canal. Climate: desert; hot, dry summers with moderate winters.

 

Location Northern Africa, bordering the Mediterranean Sea, between Libya and the Gaza Strip, and the Red Sea north of Sudan, and includes the Asian Sinai Peninsula.

Country profile

Arab Republic of Egypt is home to more that 81,713,520 residents, according to 2008 estimates from the CIA World Factbook. The great majority of its estimated 75.4 million live near the banks of the Nile River, where the only arable agricultural land is found. The large areas of the Sahara Desert are sparsely inhabited. About half of Egypt's residents live in urban areas, with the majority spread across the densely populated centers of greater Cairo, Alexandria and other major cities in the Nile Delta. Recently, the population was growing at a rate of 1.682 % per year in Egypt. The majority of country’s residents are Egyptians (99.6 %). The main religion is Muslim (90.0 %) and country’s official language is Arabic. English and French are widely understood by educated classes.

The government of Egypt is a republic. Chief of state is the President Mohamed Hosni MUBARAK (since 14 October 1981) and the head of government – Prime Minister Ahmed Mohamed NAZIF (since 9 July 2004). The president is elected by popular vote for six-year term (no term limits) since a national referendum in May 2005 approved a constitutional amendment that changed the presidential election to a multi-candidate popular vote. First election under terms of constitutional amendment was held on 7 September 2005. Next election scheduled for 2011, according to World CIA Factbook.

The country is divided into 26 governorates, the national capital is Cairo.

 

History

The regularity and richness of the annual Nile River flood, coupled with semi-isolation provided by deserts to the east and west, allowed for the development of one of the world's great civilizations. A unified kingdom arose circa 3200 B.C., and a series of dynasties ruled in Egypt for the next three millennia. The last native dynasty fell to the Persians in 341 B.C., who in turn were replaced by the Greeks, Romans, and Byzantines. It was the Arabs who introduced Islam and the Arabic language in the 7th century and who ruled for the next six centuries. A local military caste, the Mamluks took control about 1250 and continued to govern after the conquest of Egypt by the Ottoman Turks in 1517. Following the completion of the Suez Canal in 1869, Egypt became an important world transportation hub, but also fell heavily into debt. Ostensibly, to protect its investments, Britain seized control of Egypt's government in 1882, but nominal allegiance to the Ottoman Empire continued until 1914. Partially independent from the UK in 1922, Egypt acquired full sovereignty with the overthrow of the British-backed monarchy in 1952. The completion of the Aswan High Dam in 1971 and the resultant Lake Nasser have altered the time-honored place of the Nile River in the agriculture and ecology of Egypt. A rapidly growing population (the largest in the Arab world), limited arable land, and dependence on the Nile all continue to overtax resources and stress society. The government has struggled to meet the demands of Egypt's growing population through economic reform and massive investment in communications and physical infrastructure.

 

Egypt's economy

Occupying the northeast corner of the African continent, Egypt is bisected by the highly fertile Nile valley, where most economic activity takes place. In the last 30 years, the government has reformed the highly centralized economy it inherited from President Gamel Abdel NASSER. In 2005, Prime Minister Ahmed NAZIF's government reduced personal and corporate tax rates, reduced energy subsidies, and privatized several enterprises. The stock market boomed, and GDP grew about 5% per year in 2005-06, and topped 7% in 2007. Despite these achievements, the government has failed to raise living standards for the average Egyptian, and has had to continue providing subsidies for basic necessities. The subsidies have contributed to a sizeable budget deficit - roughly 7.5% of GDP in 2007 - and represent a significant drain on the economy.

Foreign direct investment has increased significantly in the past two years, but the NAZIF government will need to continue its aggressive pursuit of reforms in order to sustain the spike in investment and growth and begin to improve economic conditions for the broader population. Egypt's export sectors - particularly natural gas - have bright prospects.

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Real estate market

Egypt is known as emerging property market and popular tourism destination. The most popular areas for investments are Red Sea Riviera resorts: Hurghada, El-Gouna, Sharm el-Sheikh and the largest Egyptian city – Cairo.    

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Purchasing real estate

After 2005 reforms foreigners were encouraged to buy the property in Egypt, especially in tourism zones. Foreigners can purchase the property and the land with some limitations.

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Potential problems

Political pressure groups and leaders - despite a constitutional ban against religious-based parties and political activity, the technically illegal Muslim Brotherhood constitutes Hosni MUBARAK's potentially most significant political opposition.

Natural hazards - periodic droughts; frequent earthquakes, flash floods, landslides; hot, driving windstorm called ‘khamsin’ occurs in spring; dust storms, sandstorms.