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Internet

Egypt's internet economy could grow by 22% a year - study

Thursday 6 December 2012 | 15:19 CET | News
The internet contributed an estimated EGP 15.6 billion to the Egyptian economy in 2011 and could grow by an estimated 22 percent a year in nominal terms over the next five years, according to a study by Boston Consulting Group commissioned by Google. The internet's contribution to the country's economy represents 1.1 percent of GDP, comparable to sectors such as health services (1.3%), education (1.1%) and oil refining (1.1%). Drawing on comparisons with regional countries such as Saudi Arabia, Turkey and the UAE, the research sees three primary drivers of growth for Egypt's internet economy. The first is e-commerce, which only represents 0.2-0.3 percent of the country's retail spending compared to 0.8 percent in Turkey and 1 percent in the UAE. The second main driver is the promotion of e-inclusion, or bringing broadband internet to more Egyptians through fixed and mobile networks. The country already has the region's highest number of internet users, 31 million as at 1 July 2012. Third comes building business engagement by leveraging the internet commercially, with the report's authors seeing simplifying domain name registration as an important contributor. Egypt's tourism and manufacturing sectors have not yet seized the significant commercial potential of the Internet.

Categories: Internet
Countries: Egypt
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