Egypt (pronounced /ˈiːdʒɪpt/ ( listen); Arabic: مصر‎ Miṣr, pronounced [misˤɾ]  ( listen); Egyptian Arabic: مصر Maṣr [ˈmɑsˤɾ]; Coptic: Ⲭⲏⲙⲓ,kīmi; Egyptian: Kemet), officially the Arab Republic of Egypt, is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Thereby, Egypt is a transcontinental country, and is considered to be a major power in North Africa, Mediterranean Region, African continent, Nile Basin, Islamic World and the Red Sea. Covering an area of about 1,010,000 square kilometers (390,000 sq mi), Egypt is bordered by the Mediterranean Sea to the north, the Gaza Strip and Israel to the northeast, the Red Sea to the east, Sudan to the south and Libya to the west.

Egypt is one of the most populous countries in Africa and the Middle East. The great majority of its estimated 77.4 million^[2] live near the banks of the Nile River, in an area of about 40,000 square kilometers (15,000 sq mi), where the only arable agricultural land is found. The large areas of the Sahara Desert are sparsely inhabited. About half of Egypt's residents live in urban areas, with most spread across the densely populated centres of greater Cairo, Alexandria and other major cities in the Nile Delta.

Egypt is famous for its ancient civilization and some of the world's most famous monuments, including the Giza pyramid complex and itsGreat Sphinx. The southern city of Luxor contains many ancient artifacts, such as the Karnak Temple and the Valley of the Kings. Egypt is widely regarded as an important political and cultural nation of the Middle East.

Egypt possesses one of the most developed and diversified economies in the Middle East, with sectors such as tourism, agriculture, industry and service at almost equal rates in national production.^{[citation needed]} Consequently, the Egyptian economy is rapidly developing, due in part to legislation aimed at luring investments, coupled with both internal and political stability, along with recent trade and market liberalization.

Egypt's economy depends mainly on agriculture, media, petroleum exports, and tourism; there are also more than three million Egyptians working abroad, mainly in Saudi Arabia, thePersian Gulf and Europe. The completion of the Aswan High Dam in 1970 and the resultant Lake Nasser have altered the time-honored place of the Nile River in the agriculture and ecology of Egypt. A rapidly growing population, limited arable land, and dependence on the Nile all continue to overtax resources and stress the economy.^[76]

The government has struggled to prepare the economy for the new millennium through economic reform and massive investments in communications and physical infrastructure. Egypt has received U.S. foreign aid (since 1979, an average of $2.2 billion per year) and is the third-largest recipient of such funds from the United States after the Iraq war. Its main revenues however come from tourism as well as traffic that goes through the Suez Canal.

Egypt has a developed energy market based on coal, oil, natural gas, and hydro power. Substantial coal deposits are in the north-east Sinai, and are mined at the rate of about 600,000metric tons (590,000 LT; 660,000 ST) per year. Oil and gas are produced in the western desert regions, the Gulf of Suez, and the Nile Delta. Egypt has huge reserves of gas, estimated at 1,940 cubic kilometres, and LNG is exported to many countries.

Economic conditions have started to improve considerably after a period of stagnation from the adoption of more liberal economic policies by the Government, as well as increased revenues from tourism and a booming stock market. In its annual report, the IMF has rated Egypt as one of the top countries in the world undertaking economic reforms.^{[citation needed]} Some major economic reforms taken by the new Government since 2003 include a dramatic slashing of customs and tariffs. A new taxation law implemented in 2005 decreased corporate taxes from 40% to the current 20%, resulting in a stated 100% increase in tax revenue by the year 2006.

ourists ride in a traditional

FDI (Foreign Direct Investment) into Egypt has increased considerably in the past few years due to the recent economic liberalization measures taken by minister of investment Mahmoud Mohieddin, exceeding $6 billion in 2006.

Although one of the main obstacles still facing the Egyptian economy is the trickle down of the wealth to the average population, many Egyptians criticize their Government for higher prices of basic goods while their standards of living or purchasing power remains relatively stagnant. Often corruption is blamed by Egyptians as the main impediment to feeling the benefits of the newly attained wealth.^[77][78][79] The Government promises major reconstruction of the country's infrastructure, with a large part of the sum paid for the newly acquired third mobile license ($3 billion) by Etisalat.^[80]

The best known examples of Egyptian companies that have expanded regionally and globally are the Orascom Group and Raya. The IT sector has expanded rapidly in the past few years, with many new start-ups conducting outsourcing business to North America and Europe, operating with companies such as Microsoft, Oracle and other major corporations, as well as many SME's. Some of these companies are the Xceed Contact Center, Raya Contact Center, E Group Connections and C3 along with other start ups in that country. The sector has been stimulated by new Egyptian entrepreneurs trying to capitalize on their country's huge potential in the sector, as well as constant Government encouragement.