Egypt – Growing Market Middle East

Between seventh world wonder and globalization
Pyramids, sphinx and pharaohs - that’s Egypt for most people. But the country covers the span between its glorious history of ancient Egypt and new globalization influences. Since the end of 2003 the Egyptian economy has been on a constant expansion course. Good global economic settings and the reform-oriented governmental policy even allow a long-term economic boom. Egypt is the third largest market in the MENA region with its large population and great buying power: The country’s total private consumption is at 68.323 Euros and the gross domestic product (GDP) amounts to 1.263 Euros, one Euro is worth 7,84 Egyptian Pounds. In 2008, the economic growth will be again at above seven percent, according to the prognoses. Egypt's most important economic sectors are cotton harvesting, the production of oil and gas as well as tourism: With about nine millions of tourists in 2006, the sector increased more than 5 percent.

Promising expansion into the Middle East
Entering the Egyptian market will be an important step for METRO Cash & Carry into the Middle East and North Africa (MENA). With a population of about 80 million people, a growing middle class, a big customer base and a rapidly growing economy, Egypt offers a great potential for the company’s business-to-business wholesale concept. Besides metropolises like Cairo and Alexandria and the popular tourist regions along the Red Sea, also the country’s agricultural and industrial sectors are developing rapidly. Due to an existing trademark right, METRO Cash & Carry most probably will enter the Egyptian market with its brand "MAKRO", which is already well known in several European countries.

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