About Cairo, Egypt
Cairo is the economic center of Egypt, with
two-thirds of the country's gross national product generated in
the greater metropolitan area.
Industrialization, which began in the nineteenth century,
grew rapidly following the 1952 revolution and revolved
primarily around textiles and food processing.
Other industries include iron and steel production and
consumer goods. Today the majority of Cairo's work force is
employed in service sector jobs, especially in government,
financial services, and commerce.
The tourism industry is a major source of revenue for the
country, along with weapons sales, petroleum, and Suez Canal
Government agricultural subsidies, cheap public
transportation, and low-cost medical care has kept Cairo's cost
of living relatively low.
The government of Egypt is committed to transforming the
country’s economy through the promotion of foreign direct
investment over the long term.
As a consequence,it has recently introduced new reforms to
customs, income and corporate taxations, while privatizing
certain sector industries, and developing an export market for
their natural gas deposits.
Experts agree that all these efforts should improve the
economy of the country, create more opportunity for employment
and domestic wealth growth while increasing the attraction of
Egypt for overseas investors.
Growth in the tourist industry netted 2.5 million tourists
in 2005, representing 6% of GNP. This figure is set to rise
with growing introduction of luxury purpose built resorts
throughout the country.
Other Major Cities:
- Shubrā al-Khaymah
- Būr Sa'īd