Business Today Egypt | October – November 2023, Special Edition

ans can earn a living through performances,
TV appearances, corporate and conference
gigs, and online content. The growth of the
industry also contributes to the entertainment
sector’s overall economic impact, including
revenue generation, job creation and tourism
promotion. A lot of these rising standup comedians,
such as The Elite and HelmyMan Events,
have taken their shows to countries like Jordan
and the UAE, which helps in boosting both
Egypt’s tourism and entertainment industries.
“Stand-up comedy is not a trend, it has been
underground for almost 12 years now. In the
past 2 to 3 years, we started seeing stand-up comedians
act in movies, create advertisements
and popular online content, so it has finally
come into the spotlight,” Mina Selim, a standup
comedian, tells Business Today.
Impact on Egypt’s Economy
The cinema and theater industry contributes
heavily to the Egyptian economy through
job creation, cultural and tourism promotion,
and basic revenue generation from film production,
box office, and theater ticket sales.
Both industries offer employment opportunities
for many people, including actors,
directors, producers, technicians, set designers,
sound engineers, video editors, makeup
artists, and stylists among many other roles. It
supports a vast network of professionals who
work both on and off-screen, which contributes
to the overall job market and employment
rates.
Egyptian films and theater productions play
a crucial role in promoting Egyptian culture
and attracting tourists. It is a soft power that
shapes the image and reputation of Egypt
across the world. Many international visitors
are drawn to visit Egypt to explore its history
and get to know its culture, which indirectly
boosts tourism revenue.
“Egypt should utilize the filming locations of
iconic movies and open them for tourists to
visit. This is a great experience that could generate
money for Egypt and contribute to boosting
tourism,” Haitham Abdelatey, an Egyptian
filmmaker, tells Business Today. “Such experiences
have been successfully implemented
abroad in countries like Turkey, and people
from around the world come to see where their
favorite series or movies have been filmed.”
Building a Stronger Industry
The entertainment industry in Egypt faces
several challenges, including the lack of investment
and diverse ideas, piracy, and bureaucracy.
UNESCO also stated that practitioners estimate
Egypt loses 50 to 75% of its film and
audiovisual revenue due to piracy. The book
also states that “funding is a big challenge for
Egyptian producers, especially due to everincreasing
labor and technical costs, and the
star culture, which means that popular actors
command exceedingly high rates.”
“Egypt’s current economic state impacts the
theater and cinema industry; people are more
reluctant to pay money to go to cinemas and
theaters especially with the existence of digital
streaming services and online pirated movies
websites,” Abdelatey adds.
“There has to be continuous
competition between in-
38 November 2023 www.businesstodayegypt.com