Skilled Egyptian diaspora as a source of entrepreneurship in Egypt

Abstract

Entrepreneurship is vital for the economic growth of developing countries like Egypt. However, the country still faces obstacles to entrepreneurial growth, including lack of financing and knowledge; two problems which can be eliminated by targeting the skilled Egyptian diaspora as a source of entrepreneurship. These are Egyptians living outside Egypt but are still emotionally and/or physically connected to it and are willing to contribute to its development. This research aims at determining the degree of interest of Egyptian diaspora members in undertaking entrepreneurial ventures in Egypt, as well as identifying the obstacles to and incentive for these efforts. This is conducted through an online survey on a sample of 384 skilled Egyptian permanent and temporary emigrants. While many expressed interest, bureaucracy, lack of transparency and market conditions remained as obstacles. On the other hand, market potential, availability of cheap manpower and lifestyle encourage diaspora entrepreneurship. In order to capitalise on the stored wealth of knowledge and resources of Egyptian diaspora abroad, a focused diaspora entrepreneurship mobilisation strategy must be developed to improve linkages with skilled Egyptians abroad, solve their perceived problems, and provide them with specifically tailored investment incentives.