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Google Pumped GBP11.2 Billion in Egyptian Economy in 2021

Google Pumped GBP11.2 Billion in Egyptian Economy in 2021

Wednesday, 25 May, 2022 - 08:15
Google has contributed to advancing economic activity in Egypt through its various products in helping individuals, local businesses, content creators and software developers. (Reuters)

Google directed an estimated 11.2 billion pounds ($61 million) in economic activity in Egypt in 2021, according to the Google Impact Report.

The report is conducted by Public First research agency that looks at how Google products (Search, Play, Maps,YouTube and Google Ads) help people, local businesses, content creators and developers in Egypt, Saudi Arabia and the UAE.

Around the world, Google releases Impact Reports, which are based on public polling, economic modeling, and third-party data.

Commenting on the report, Hisham ElNazer, Google’s Country Manager in Egypt, said: “We’re happy to see how people, businesses, content creators and developers in Egypt used our products like Search, YouTube, Maps and Android in their own way to grow and innovate in the face of adversity and change over the last few years.”

“We’re deeply committed to investing and doing more in Egypt this year through programs and local partnerships, whether to help individuals gain necessary skills to grow, or support businesses with tools and mentorship to scale successfully online.”

Meanwhile, a new IBM study revealed that sustainability is rising higher on corporate agendas across the world as CEOs recognize sustainability as a business imperative and growth driver, with Egypt being no different.

Yet, CEOs in Egypt predict technology infrastructure, cashflows and regulations as concerns that may hinder their progress for the next couple of years.

IBM’s annual CEO study, “Own your impact: Practical pathways to transformational sustainability”, which surveyed 60 CEOs in Egypt, found that the majority of CEOs surveyed (72 percent) believe their company’s environmental sustainability strategy is a least partially completed, with 10 percent stating that the strategy is in fact fully completed for their organizations.

However, nearly half (47 percent) of respondents stated technology infrastructure among their greatest challenges, with lack of data insights and unclear Return on Investment (ROI) as major potential hurdles.

Seventy-seven percent of surveyed CEOs stated that they have already started implementing their sustainability strategy across several functions; however, only 11 percent have fully implemented their strategies across their entire organization.

The majority of respondents (67 percent) agreed that business leaders are directly responsible for their organizations business impact on the environment.

“The world economy is facing major challenges this year, foremost of which are supply chain disruptions, inflation, and the aftermath of the Covid-19 pandemic” says Marwa Abbas, General Manager, IBM Egypt.

“But with every challenge comes an opportunity to do things better, more sustainability and to employ cognitive technologies and innovations in order to stay ahead of the curve, and that’s where we’re directing all our efforts.”

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