The value of the soda water industry added LE5.2 billion to the Egyptian economy, according to a joint report by the International Tax and Investment Centre and Oxford Economics.
The study stated that the seltzer sector's contribution to the Egyptian economy has increased with an annual growth rate of 27 per cent in the last five years, according to the report entitled, “The economic benefits of reducing the sales tax on carbonated beverages in Egypt’, obtained today by Egypt’s Minister of Finance Botrous Ghali,
Fizzy water has also contributed 1 per cent of the annual GDP, in addition to providing more than 173,000 job opportunities in 2009, compared to 113, 000 in 2005, recording an annual growth rate of 11 per cent of the total job vacancies in the last five years.
Soda water has also contributed 1 per cent of the total tax revenues in 2009, reaching LE1.73 billion last year, compared to LE775 million in 2005..
The study has attributed the revival of the sparkling water industry to the reform of the taxation system adopted by the ministry in the last five years, including reducing income tax on profits up to 20 per cent.