Uber Contributes EGP 7.4 Billion to Egyptian Economic system

Celebrating ten years in Egypt, Uber Egypt has unveiled its first-ever Economic Impact Report, shedding gentle on the ride-hailing big’s important contribution to Egypt’s economic system and its function in supporting each the tourism sector and hundreds of companion drivers throughout the nation. According to the report, Uber contributed an estimated EGP 7.4 billion to Egypt’s economic system in 2023 alone.

The report, commissioned by Uber and carried out by Public First, was offered at an occasion on February 20, attended by policymakers, business leaders, and key stakeholders. It highlights Uber’s affect on native companies, companion drivers, and riders, emphasizing the platform’s rising significance within the mobility and tourism sectors.

“This report demonstrates the power of technology in transforming mobility and creating economic opportunities in Egypt,” stated Youssef Abouseif, General Manager for Egypt, Saudi Arabia, and Bahrain at Uber. 

“Over the past decade, Uber has provided thousands of drivers with flexible earning opportunities and brought innovative solutions to help people access modes of transport that are safe, reliable, and convenient. As we look ahead, we remain committed to working with policymakers and industry players to further unlock the potential of the ride-hailing sector.”

Boosting Egypt’s Tourism and Leisure Sectors

As a longstanding international vacationer vacation spot, Egypt has benefited from Uber’s presence, with the platform contributing an estimated EGP 3.1 billion to the tourism business. The report highlights how vacationers more and more depend on Uber for secure and dependable transportation throughout Egypt’s bustling cities, historic landmarks, and standard coastal locations.

Uber says its options similar to upfront pricing and GPS monitoring have improved security and comfort, making Egypt extra accessible for worldwide guests. The platform additionally supported an estimated EGP 710 million in worth for the leisure economic system by enabling secure late-night journey, boosting financial exercise throughout the hospitality, leisure, and leisure sectors.

The report additionally highlights Uber’s function in redefining work in Egypt, significantly throughout the rising gig economic system. Partner drivers on the Uber platform collectively earned an extra EGP 1.8 billion in 2023. Flexible working hours have been a key draw, with 73 p.c of drivers stating that Uber allowed them to steadiness work, household commitments, and private progress.

Additionally, 64 p.c of drivers stated Uber helped them earn cash in emergency conditions, whereas 47 p.c reported feeling extra financially safe because of their earnings from the platform. Uber’s versatile mannequin has confirmed significantly enticing to these with caregiving tasks, providing a lifeline to many in search of financial independence.

Enhancing Rider Convenience and Safety

The report additionally notes Uber’s impression on riders, with 94 p.c citing consolation and 79 p.c emphasizing reliability as the primary causes they select the platform. Uber riders saved an estimated 8.4 million hours yearly, the equal of 959 years, enhancing comfort and effectivity throughout day by day commutes and social outings.

Safety stays a core focus for Uber, with 79 p.c of riders agreeing that Uber is usually the most secure approach to journey residence. The report additionally discovered that 70 p.c of riders turned to Uber throughout emergency conditions, whereas 48 p.c used the app to attach with public transport.

Uber can be more and more relied upon for particular journeys, with 72 p.c of riders utilizing the app for work commutes, 60 p.c for airport journeys, and 61 p.c for social occasions.

The firm has emphasised the necessity for continued collaboration with policymakers and business stakeholders to reinforce security requirements throughout the ride-hailing business and develop a strong legislative framework to help innovation and progress.