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CAIRO, EGYPT, December 19, 2019 /24-7PressRelease/ -- Healthcare in Egypt - an overview
With a growing population (currently over 97 million), overburdened infrastructure, outdated technology and a vital need for training and retaining skilled professionals, the healthcare sector in Egypt offers more investment opportunities than ever before. Attracting new market participants will be critical to meet new demand.
• 3rd in Africa and 14th in the world; 1.2% of the world's population
• Illiteracy rate: 15.8% (14.5 million); Poverty: 27.8% (25.5 million)
• Most populous Arab nation with a population expected to reach over 151 million by 2050 (97.99
million in 2018)
• Urban population remains below 50% (43.2% in 2016), growing at a rate of 2.2% per year
• Egypt's population will shift from baby boomers to generation X, Y & Z
An attractive investment opportunity
The implementation of reforms along with the gradual restoration of confidence and stability are
starting to yield positive results. In FY 2018, real GDP grew at 5.3%, compared to 4.2% in FY 2017. This pickup in GDP was mainly driven by public and private investments as well as private consumption.
The healthcare market in Egypt continues to grow, mainly due to demand from a steadily growing population (expected to reach 151M by 2050), the gradual increase in aging population (7.8% to 15.3% by 2050), and the expansion of health insurance coverage.
Every year, Egypt needs a minimum of 2,500 to 3,500 beds (1.5 to 2 beds / 1,000 population), resulting in a requirement of an additional 26,000 to 77,000 new beds by 2020 (and between 102,000 to 178,000 new beds by 2050), a considerable increase, thus offering ample investment opportunities in the country's healthcare sector.
The new capital will span 700 sq km, making it nearly the same size as Singapore. The unnamed megacity is expected to be home to approximately 7 million people and will include roughly 2,000 schools, 600 healthcare facilities, 18 hospitals and 40,000 hotel rooms.
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