The Suez Canal has been critical in driving Egypt’s economy forward. It earns revenues through tolls and transit fees collected from vessels that pass through the canal.
In 2021, some 20,649 vessels flowed through the Suez Canal - an increase of 10 percent over 2020. In 2022, annual revenue stood at $8 billion in transit fe…
The Suez Canal has been critical in driving Egypt’s economy forward. It earns revenues through tolls and transit fees collected from vessels that pass through the canal.
In 2021, some 20,649 vessels flowed through the Suez Canal - an increase of 10 percent over 2020. In 2022, annual revenue stood at $8 billion in transit fees. The Suez Canal set a new record with an annual revenue of $9.4 billion for the fiscal year that ended 30 June 2023.
While the canal is Egypt's economic centrepiece, attracting investments to the country and leading to the development of services and industries, its primary importance remains to be its ability to facilitate international trade, making an efficient global trade route.
The Ben Gurion Canal, if constructed, would rival the Suez Canal and cause a major financial threat to Egypt.
If it goes ahead, it would be almost one-third longer than the current 193.3km Suez Canal, and whoever controls it will have enormous influence over the global supply routes for oil, grain, and shipping."
"Economic gains
The Suez Canal has been critical in driving Egypt’s economy forward. It earns revenues through tolls and transit fees collected from vessels that pass through the canal.
In 2021, some 20,649 vessels flowed through the Suez Canal - an increase of 10 percent over 2020. In 2022, annual revenue stood at $8 billion in transit fees. The Suez Canal set a new record with an annual revenue of $9.4 billion for the fiscal year that ended 30 June 2023.
While the canal is Egypt's economic centrepiece, attracting investments to the country and leading to the development of services and industries, its primary importance remains to be its ability to facilitate international trade, making an efficient global trade route.
The Ben Gurion Canal, if constructed, would rival the Suez Canal and cause a major financial threat to Egypt.
If it goes ahead, it would be almost one-third longer than the current 193.3km Suez Canal, and whoever controls it will have enormous influence over the global supply routes for oil, grain, and shipping."