Economy
Cairo is also in every respect the centre of Egypt, as it has been almost since its founding in 969 AD. The majority of the nation's commerce is generated there, or passes through the city. The great majority of publishing houses and media outlets and nearly all film studios are there, as are half of the nation's hospital beds and universities. This has fueled rapid construction in the city—one building in five is less than 15 years old.
This astonishing growth until recently surged well ahead of city services. Homes, roads, electricity, telephone and sewer services were all suddenly in short supply. Analysts trying to grasp the magnitude of the change coined terms like "hyper-urbanization".
Read more about this topic: History Of Cairo
Famous quotes containing the word economy:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)