ICT industry is known to be the fastest-growing sector in Egypt. The sector hit new heights, recording a growth rate of about 14.4%, outpacing all the state’s economic sectors during the fiscal year 2023/2024, becoming the fastest-growing state sector for the sixth year in a row.

The ICT sector achieved revenues amounting to EGP 315 billion in the current fiscal year, with a growth rate of about 75%.The ICT sector's contribution to the GDP reached 5.8% in 2023/2024, up from 5% in 2022/2023, and is expected to reach 8% in 2030.

The IT sector in Egypt is creating increased and sustainable employment opportunities in the outsourcing services industry with a focus on higher value services. More than 300,000 jobs are created for the offshoring sector (with over 30% women participation) with plans to scale up the sector’s employees to reach 500,000 by 2026.

This has been fueled by the increased number of companies setting up in Egypt and the exponential growth of digital exports reaching $6.2 billion in 2023 from $4.9 billion in 2022, with a growth rate of about 26%. The government has plans to increase digital exports to reach $9 billion by 2026.

Since the launch of Egypt Strategy for Offshoring Industry, Egypt signed 74 agreements with local and global companies. Over 20 companies are opening outsourcing centers for the first time in Egypt while 50 are expanding. Capitalizing on the pivotal location, abundant talent pool, cost-competitiveness and government support, high growth companies are directing their attention to the uprising ICT powerhouse in the region.

Egypt is home to 500 Fortune companies with the likes of Amazon, Microsoft, IBM, Uber as well as tech-powered startups like Instabug, Vezeeta and Swvl. The country is leading the innovation scene in the region. It is attracting business moguls chasing tech-powered solutions to today’s global challenges. At this time, Egypt has established 150+ export delivery centers serving 100+ countries across North America, Europe, Middle East, Africa and Asia catering for ITS, BPS, KS and ER&D global demand.

Business leaders continually looking to grow their global footprint and provide client-centric solutions and services, will find Egypt as the frontier GBS/SSC destination for EMEA that offers high-tier capabilities such as business continuity, digitally skilled multilingual workforce and high-value services like IT, HR, finance & accounting, supply chain, and procurement.

Egypt Makes Electronics:

Egypt Makes Electronics is a presidential initiative launched to position the electronics industry as one of the key props for growth in the Egyptian economy. EME initiative focuses on two main scopes. First is the superior design and production of electronic circuits and systems with high added-value and backed with a high level of tech support. Second is creating labor-intensive electronics manufacturing industry.

EME strategy seeks to nurture and encourage local manufacturing to make Egypt an appealing investment destination for electronics/design companies. The strategy attracted numerous investors to: (1) serve the home market, and (2) export to regional markets. Four large manufacturers of mobile phones and tablets (Vivo, Nokia, Xiaomi and Samsung) began manufacturing in Egypt. Smartphone/tablet manufacturers bring a total investment of EGP 2 billion and a production capacity of 20 million mobile phones.