Egypt has a massive population of over 98 million people, with the current GDP per capital at just over $3,000. Egypt has invested in human capital but according to Professor Ragui Assaad, Egypt’s economic growth is “jobless growth,” and has “no impact on employment rates or the quality of jobs…but poverty and inequality have increased. Growth has essentially not been creating good jobs despite the apparent decline in unemployment.”
Egypt’s plan seems to be outdated. According to professor Panos Tsakloglou, the cornerstone of Egypt’s economic approach since 2008 ”is to upgrade and invest in human capital and to create an efficient capital market that leads to higher growth rates and solves all of the economy’s problems.” This follows the Korean model but according Dina Armanious, professor of statistics at Cairo University, “the poverty in Egypt, extreme poverty has increased steadily from 2012 to 2018, as 6.2% of the population in 2018 were categorized as extremely poor, unable to meet their minimum food requirements, and suffering from food insecurity.”
We think it would be better for Egypt, Africa and other Arabic speaking economies and most of into encourage their populations to embrace the Freelance Global Gig (FGG) Low Cost Marketplace, opening up worldwide opportunities for them at much higher global pay scales.
Some of Egypt’s greatest barriers to entry are internet access (only 33% as of 2016) and the national language of Arabic.
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Now with companies such as FGG Low Cost Marketplace providing over 97% of global languages into (and out of) Arabic, the Arabic speaking world is gaining complete access to the FGG Low Cost Marketplace economy. Not only can they buy or sell their gig services over the internet in Arabic, but once they post a service, their post will be translated into over 100 languages, giving the Arabic world and the Egyptian population (possibly for the first time) an equal opportunity at this labor market. Other leading global countries and languages are witnessing tremendous growth.
What is most surprising is that this opportunity to buy and sell services in Arabic is being provided on low cost on the FGG Low Cost Marketplace at 40% less in transactions costs compared to other services who don’t even provide Arabic translation into over 100 other languages.
Take a look at the many articles for freelance gig beginners available in Arabic: مقالات لحسابهم الخاص للمبتدئين
Here is the same article in Arabic “Can the Low Cost Global Gig Revolution Improve the Egyptian and Arabic Language “Jobless Growth Economy”?”
It’s a fast and easy process for Egyptian professionals to become involved in the open FGG Low Cost Marketplace market. Many people begin their freelance gig career in the evening after their full time job or taking care of their family– so their income is not disrupted while they work hard to better their lives and the lives of their family.
It is now very easy for a person to open a micro business in Egypt and start earning wages at significantly higher global rates. To establish a long term successfully world class service take lots of time, energy and very hard work. The most successful freelancers are driven by the knowledge that their future compensation may be many times higher than the average Egyptian would ever make in a year.