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Egypt Retail Report Q2 2009Published by: Business Monitor International Published: May. 21, 2009 - 52 Pages Table of Contents
AbstractThis new BMI Egypt Retail report predicts that the country’s retail sales will grow from around US$53.9bn in 2007 to more than US$117.1bn by 2013. Key factors behind the forecast growth in Egypt’s retail sales are an extremely large and youthful population, the emergence of a more affluent middle class, a vibrant tourism industry, and the growing acceptance of modern retail concepts.Egypt’s nominal gross domestic product (GDP) was US$132.6bn in 2007. Average annual GDP growth of 4.6% is predicted by BMI until 2013. With the population increasing from 75mn in 2007 to an estimated 82.8mn by the end of the forecast period, GDP per capita is predicted to rise by nearly 113% by that time, reaching US$3,760. Egypt’s substantial population makes it the largest market in the Arab world, with the population of Cairo alone standing at some 15mn in 2008. Alexandria is also a very sizeable city, with a population of around 5mn. In 2005, 63.3% of the Egyptian population was described by the United Nations (UN) as economically active, with 36.3% in the critical (for retail sales) 20-44 age range. By 2010, 65.1% of the population is expected to be active, while the proportion of those in the 20-44 age band is forecasted to reach 37.4%. Increasing urbanisation is also contributing to growth in the retail sector. In 2005, 42.3% of the population was classified by the UN) as urban, and this is forecasted to increase to 43.2% by 2010. The country’s retail market also benefits from a high tourist spend, with official data showing that foreign tourist arrivals totalled almost 11.1mn in 2007. This represented a marked 22% year-on-year (y-o-y) increase. BMI estimates that the number of foreign tourists visiting Egypt will increase to nearly 18mn by the end of the forecast period, further boosting retail sales. Retail sales for our universe of MEA countries in 2007 amounted to an estimated US$344bn, based on the varying national definitions. Total consumer spending for the region, based on BMI’s macroeconomic database, amounts to US$467bn. In 2007, Saudi Arabia, South Africa and the United Arab Emirates (UAE) together accounted for an estimated 61.1% of regional retail sales, and their combined share is expected to remain around this level until 2013. For Egypt, the estimated 2007 market share of 15.7% is expected to rise to 19.7% by 2013. Get Full Details About This Report >> |
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