Rediscovering sport in Egypt

The Egyptian government's interest in sport is part of the country's short and long-term economic strategy. Egypt’s 2030 Strategic Vision aims to create alternative sources of income to finance the Egyptian treasury as traditional streams of revenue decline. The Vision lists sport as one of the fields that can generate consistent and sustainable economic benefits that will eventually help alleviate the country's precarious financial situation.

The current economic crisis and the severe shortage in foreign currency are both accelerating the state's shift towards the growing and prospering global sports market. While investment in sport has reached a peak globally, Egypt is still striving to attract foreign investment to the various sectors of its sports market as a model for other categories of investment. Each sector generates a variety of job opportunities through an infrastructure of support services. 

Large youth population

The government sees the large youth population in Egypt – and the correspondingly vast market – as a huge investment opportunity. In order to take advantage of this opportunity, the ministry of youth has attracted private sector investment by using a usufruct system, in which investors are afforded the right to use property that they do not own for a time. This scheme achieved returns of 6 billion EGP following investment in sports facilities, thus encouraging the state to continue in this direction.

Internal dynamics also play a role in encouraging decision-makers to support sports investment in Egypt. The Egyptian chambers of commerce and various industry bodies that specialise in sports supplies and services have called on decision-makers to support and facilitate investment and growth opportunities in the large local market, and to take advantage of diplomatic relations with various African neighbours to access the African market and stimulate demand.