Economy
The coast is, as already mentioned, a tourist element. Since the early 80s, Hurghada has been a popular destination for beach lovers and scuba divers. Tourism is also growing in the southern cities of Al-Qusair, Safaga and Marsa Alam. In addition to the numerous hotels and tourist establishments in the centers are located in Al-Bahr al-Ahmar 2 official nature reserves are to be developed for tourism or. The Wadi al-Gamal National Park (Valley of the camels) at Hamata near the town of Marsa Alam and the Gebel Elba National Park in Hala'ib-delta near the city Halayib. Besides a strong tourism industry, there is also a large offshore fishing industry. The area, which extends over the province, is rich in minerals, such as in phosphates. The Ras Gharib region contains 70% of Egypt's oil production.
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Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)