Egypt Watch

Egypt is the world`s fastest-growing country for the number of wealthy people

Knight Frank, a real estate consultancy, issued a report in which it expected Egypt to be among the countries with the highest growth in the number of the wealthy by 2024, to come in second place after India. According to the report, Egypt had 740 people owning more than 30 million dollars in 2014, and this number became 764 people in 2019, and it is expected to reach 1269 people in 2024. In addition to these, the number of people who own more than one million dollars in Egypt increased from about 45 thousand people in 2014, to reach more than 57 thousand people in 2019. The number is expected to become 96 thousand people in 2024. It is worth noting that a report by the Central Statistics Authority revealed the increase of the poor in Egypt from 27.8% in 2015 to 32.5% in 2018, meaning that the number of poor people in Egypt increased from less than 25 million in 2015 to about 32 million in 2018.