Egypt's high-end shopping market brings business opportunities for paper bags
With the strong recovery of the Egyptian economy in recent years, the Egyptian pound has finally ushered in a period of appreciation after experiencing a downturn. The Egyptian president put forward the slogan of building 20 new cities and began to carry out infrastructure construction throughout the country. The real estate industry has witnessed unprecedented growth and has become the fastest growing industry in Egypt. According to statistics, from 2017 to 2018, the total investment in the real estate industry reached 80.45 billion billion pounds, an increase of 44% year-on-year. Currently, the hot spots for real estate investment are New Cairo and the New Capital. The rapid recovery of the local economy has also attracted the attention of many overseas investors. It plans to attract 4 billion US dollars of overseas investment within three years. The growth of domestic population and overseas investment has led to a significant increase in the demand for local residential and office buildings in Egypt. In addition, Egypt's tourism industry is clearly recovering, and the number of foreign tourists is gradually increasing. With the rise of tourism in Egypt in the spring, the construction of local hotels and shopping centers has also increased. In 2018 alone, 34 large and high-end shopping malls were built in Egypt. In addition, the Cairo Festival, the largest shopping and business district in North Africa, includes Carrefour and IKEA, as well as the famous City Star, Arab Shopping Center, San Stefano Shopping Center and Senzo Shopping Center, as well as the integrated shopping centers Levi's ,ESPRIT,timberland,Zara,boss,guess, etc. The Egyptian government has initiated a plastic ban and is currently implementing three pilot projects in tourist cities. The development era of the paper bag industry driven by the government and high-end retail industry is coming.