HSBC Navigator provides comprehensive insight into the now, next and how for business, representing the views of over 9,100 business decision-makers across 35 markets. This report gives an understanding of how businesses like yours can continue to grow now and in the future.
Fuelled by government-led economic reforms aimed at stabilising the economy and restoring confidence,1 Egyptian businesses’ growth outlook has strengthened over the past 12 months and continues to rise. They are the most confident in the Middle East and North Africa (MENA) region and while challenges remain, firms are responding by improving the quality of products and services and expanding to new markets.
Tech, new market access and productivity
Egyptian businesses are very confident about future growth – with levels of optimism exceeding the global average. Nine out of 10 businesses say they expect growth in the next year, with two in five (40%) of high-growth firms predicting growth of 15% or above, exceeding the global average (22%) and that of MENA (33%).
Businesses’ optimism is being fuelled by the opening up of access to new markets, increases in the quality and availability of suppliers and raw materials, and improving business productivity. Other factors, such as introducing new products or services and investment in technology, are also driving the positive outlook.
of Egyptian firms are predicting growth of 15% or more
88% of Egyptian businesses expect to see growth in the next year – ahead of the global average (79%).
89% of firms expect to see growth over the next five years – with half projecting growth of 15% or more.
Growth is driven by new markets opening up (47%), improving business productivity (37%) and introducing new products/services (34%).
Invest in improving the quality of products and services. 44% of Egyptian firms say this is part of their strategy.
Look to new markets for expansion. 33% of businesses are considering expansion into markets they haven't traded in before.
Invest in higher-quality raw materials and suppliers. More than a quarter of Egyptian firms are focused on this, versus 16% globally.