Egypt's Economic Crisis: Can it be stopped? 

Sadly true, I am egyptian and I don't go because of this

I'm planning to visit Egypt in July. But with the black market exchange rate and the scams, I'm a bit skeptical to be honest

@@Kylelongwest it is not a no go, but the scammers are just annoying. Just be careful and I think you will still have a nice time. For the balck market, it is just for currency exchange, and right now the difference with the official rates at the banks is almost negligible, so that would not stop me either.

@@Kylelongwest Right now there is no black market because it is the same exchange rate, amd about Scummers, u will find them in Cairo but I recommend u go to Sahel or Sharm It is amazing right now

I can verify this is true. I enjoy Egypt a lot but it’s quite stressful as a tourist!

No offense but I can corroborate. Some were actually nice but alot of people were very aggressive with tourists like forcing to buy. My mom wants to avoid the region as a while just because of Egyptian.

I agree 100%. We thought it was going to be awful because of what many said and we had the best experience. We met the nicest people. It’s true they do hassle you but if you can get past this, it’s amazing!

Global tourism is well down on 2019 its not just Egypt, a big part of is is a huge drop in Chinese tourists worldwide.

It’s a paid propaganda against Egypt most are really nice people

despite your experience, are you willing to give Egypt one more visit?

@@uptin No

Nope..never ​@@uptin

I was thinking the same thing.. some investment into PR and improving the problems like scammers and annoying policies would do more than any billions they try to spend in order to increase tourism

They also imposed visa requirements for Canadian citizens recently. But why only to Canadians but not to Americans, Australians, the Brits or Europeans?

​@@artman12You said "recently". Then maybe in the future it would be applied to other countries. I hope so.

"Former CNBC Journalist, now Digital Nomad. I tell stories about money and economics." now I understand why your commentary and explanation is so good

Check out Nigeria, probably the cheapest prices.

how ? where to buy subscriptions from other countries ?

​@@algeriableentertainment5178 cough cough VPN cough

why not just move and live there? that's what i've done. permanently moved to nigeria.

​@@JingJaoHow is life in nigeria? Is it stressful? Do people treat you kindly?

Nigeria&Egypt need a emergency birth control to reduce extremely high population growth kenya/Ghana/Botswana done it

Nigeria is the African powerhouse, strongest army and leader of Africa . What are you talking about

Will look into it

According to the 2024 IMF data, Egypt ($347.5 billion) has the 2nd highest nominal GDP in Africa, just behind South Africa but above Nigeria ($252.7 billion). How is that possible?

​@@artman12currency depreciations ☺️☺️

Egypt has a growing population and thus has more import needs. Now is the time to allow investment in the country

yeah when he said that i had a double take. I guess when you have to take debt out in foreign currency it's high

Sloppy reporting.

exactly, it’s not debt their problem but gaza war so tourism is low

Debt is 89% of GDP. Not sure where 42% came from

@@lastsovietspyThat’s the problem. Egypt relied on tourism alone for too long. Under Mubarak, Egypt has stable growth because they just relied on military aid and tourism revenues to bring income in and lower government spending. But with the population increasing, the expenditures of the state also grew and thus the economy requires growth to check the debt of the nation.

He is not from Egypt.

Nope

@@MM-zo7qThey already are. Saudis and Emiratis are diversifying and are investing in Egypt heavily.

Which North African countries do have high population growth?

It's a failed country

5od

It’s not useless. Egypt is essentially self-sufficient in food, liquified natural gas, and has a huge labor force. Not to mention, Egypt will always be a major tourist destination. Lastly, Egypt has the Suez Canal which is substantial for trade between Europe and Asia The issue is that Egypt has been largely a socialist economy for a long time that depended on US military aid and tourism revenues alone to keep their currency in check. That incentivized the government not to invest in other industries.

US is highly developed industrial nation. (At least for now) Egypt is not. Debt for US and debt for Egypt is a completely different reality.

Not true at all.

Laaa

Hello my friend!

are you from Egypt?

No. if the nile flows through Ethiopia and Egypt then it belongs to both not just one side.

Idiotic comment

lmao. Its simply because INDIA isn't a homogenous nation, too diverse, which unfortunately is tough for democracy to be whipped into shape. China, Japan, Korea were all managed to upgrade because they are homogenous nation. Its as simple as that. But the good thing is, there's only upside to this, INDIA will be a value stock sorta nation where there's continued progress although at slower pace. In this century it will be USA, CHINA and INDIA competing for everything.

Let's declare a National Holiday tomorrow for your first comment🤣🤣

that's not true . there are a lot of prosperous rich muslim countries from south east asia to gulf countries to adrbejan to brunei to many others . some countries in the middle east are not stable economically or politically since forever . i could count you dozens of poor failing christian countries in africa or americas although their failure have nothing to do with countries' religion.

you're indian i guess so you probably have worked or your siblings or one of your family relatives in a muslim country before

@@algeriableentertainment5178 yes brother I'm Indian 🇮🇳 the fact is other Muslim countries like UAE, Saudi Arabia, Indonesia, Qatar are rich just because these countries are secular and they don't force their islamic ideologies on you and their economy is heavily dependent on Tourism and Oil that's it Once it is finished the game is over and other Muslim countries like Bangladesh, Pakistan, Egypt, Iran, Iraq, Afganistan, Jordan, Syria, Turkey and some African Muslim countries etc. are suffering from economic crises or instability because of their radical islamic ideology and that's a fact if you don't believe me you can do research or read case studies about these countries economic failure

@@mufasa0Saudi Arabia is secular and don’t force religion? 😂😂

Gulf countries, Malaysia, Brunei, Azerbaidjan and Indonesia (the later one feels more "Islamic" than Arab countries) are doing relatively well. Senegal and Bangladesh economies are growing. Maghreb isn't getting poorer (but not richer either).