“The New Suez Canal is the first step of a thousand other steps”- President Abdel Fattah el-Sisi

 

 

Point Roberts WA, NEW YORK, NY August 13, 2015 - Investorideas.com (www.investorideas.com newswire ) , a global news source covering leading sectors including the Middle East issues commentary and images from a recent trip to Egypt to attend the opening of the New Suez Canal. 

 

With the inauguration ceremony in the rearview, Egypt has already started to look ahead at different ways to better the Egyptian economy.

 

The New Suez Canal itself is expected to increase container ship traffic and income for the country. The second phase of the plan, according to the Suez Canal Authority, will be to expand and develop the surrounding area of Ismailia.

 

The development aims to do double duty. Provide employment for a hard hit Egyptian job market and to better service the vessels travelling along the canal.

 

“The New Suez Canal is the first step of a thousand other steps,” said President Abdel Fattah el-Sisi at the inauguration ceremony Aug. 8.  The improvements could not come at a better time.

 

Since the Arab Spring in 2011, tourism took a massive hit in Egypt. Almost 15 million Egyptians rely on jobs related to the tourism industry. Prior to the Arab Spring incident, 14.7 million people visited Egypt in 2010. Just last year that number dropped to a low 9.9 million visitors resulting in only $7.3 billion in revenue.

 

Updating the area surrounding the New Suez Canal should provide over a million jobs for the Egyptian people.

 

The 15 year plan is Mr. el-Sisi’s first big idea that aims to fast track the Egyptian economy to put them back on a global scale and get the unemployment rate below the current 13 per cent.

 

Read this article in full at http://www.investorideas.com/news/2015/main/08131.asp

 

Article and Photos by Investorideas.com writer Madelyn Forsyth

 

Empty horse-drawn buggies wait for tourists at the Great Pyramids of Giza

 

 

Typically bustling with tourists, the site containing the Great Pyramids was very quiet

 

 Egyptian shop owners wait for tourists on a slow weekend in Giza

 

 

The Sphinx 

 

 

 

 

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