Cost Of Living in Sharm el-Sheikh 2024

Average monthly spending for singles, couples, students, and families in Sharm el-Sheikh

Whether you're living in Sharm el-Sheikh or planning to move there, it is very important to know the cost of living and the prices of things. Here we list the average spending for the four main population groups.

Average Monthly Expenditure

19,000 EGP

per month
$630

1,500 EGP   $48
$6,300   190,000 EGP

Single

13,000 EGP

per month
$430

4,500 EGP   $140
$2,900   89,000 EGP

Couple

22,000 EGP

per month
$720

7,400 EGP   $240
$3,900   120,000 EGP

Family

30,000 EGP

per month
$960

10,000 EGP   $340
$5,300   160,000 EGP

Student

8,700 EGP

per month
$280

3,500 EGP   $110
$500   16,000 EGP
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.

Singles

The average monthly expense for a single person living in Sharm el-Sheikh is 13,000 EGP. Expenses can range from 4,500 EGP at the minimum level to 89,000 EGP at the highest end.


Couples

The average monthly spending of couples in Sharm el-Sheikh is 22,000 EGP. Expenditure can range from 7,400 EGP to 120,000 EGP per month.


Families

The average cost of living for families in Sharm el-Sheikh is 30,000 EGP per month. Families spend anywhere from 10,000 EGP to 160,000 EGP.


Students

The average monthly expenditure for students in Sharm el-Sheikh is 8,700 EGP. Students spend from 3,500 EGP to 16,000 EGP per month.


Spending behavior can change drastically from one person to another. It is best to consider the minimum, average, and maximum spending together.

Prices and cost of goods and services in Sharm el-Sheikh


Dining, food, and beverages costs


Large bottle of water
2.5 EGP 2.9 EGP 3.3 EGP
MINIMUM AVERAGE MAXIMUM
$0.08 $0.09 $0.11
Fast food combo meal
21 EGP 43 EGP 72 EGP
MINIMUM AVERAGE MAXIMUM
$0.70 $1.4 $2.3
Restaurant meal for one
68 EGP 100 EGP 200 EGP
MINIMUM AVERAGE MAXIMUM
$2.2 $3.3 $6.6
Fine dining meal for one
140 EGP 200 EGP 810 EGP
MINIMUM AVERAGE MAXIMUM
$4.4 $6.6 $26
Soda or Soft Drink
3.1 EGP 3.6 EGP 4.3 EGP
MINIMUM AVERAGE MAXIMUM
$0.10 $0.12 $0.14
Cappuccino or latte
18 EGP 29 EGP 43 EGP
MINIMUM AVERAGE MAXIMUM
$0.58 $0.93 $1.4

Grocery and market costs


Milk large bottle
14 EGP 17 EGP 21 EGP
MINIMUM AVERAGE MAXIMUM
$0.46 $0.56 $0.70
Loaf of bread
2.6 EGP 2.9 EGP 3.4 EGP
MINIMUM AVERAGE MAXIMUM
$0.08 $0.10 $0.11
12 eggs
11 EGP 14 EGP 21 EGP
MINIMUM AVERAGE MAXIMUM
$0.35 $0.46 $0.70
Fresh whole chicken
24 EGP 32 EGP 45 EGP
MINIMUM AVERAGE MAXIMUM
$0.79 $1 $1.4
Beef 1 kg or 1 lb
29 EGP 43 EGP 86 EGP
MINIMUM AVERAGE MAXIMUM
$0.93 $1.4 $2.8
Rice 1 kg or 1 lb
12 EGP 16 EGP 22 EGP
MINIMUM AVERAGE MAXIMUM
$0.37 $0.51 $0.72
Tomato 1 kg or 1 lb
4.3 EGP 5.7 EGP 11 EGP
MINIMUM AVERAGE MAXIMUM
$0.14 $0.19 $0.35
Apples 1 kg or 1 lb
7.7 EGP 10 EGP 17 EGP
MINIMUM AVERAGE MAXIMUM
$0.25 $0.32 $0.53

Commute, travel, and transportation costs


20 minutes taxi ride
17 EGP 20 EGP 41 EGP
MINIMUM AVERAGE MAXIMUM
$0.55 $0.66 $1.3
Average car full tank
110 EGP 140 EGP 290 EGP
MINIMUM AVERAGE MAXIMUM
$3.5 $4.6 $9.3
Average car 1-day rental
96 EGP 130 EGP 190 EGP
MINIMUM AVERAGE MAXIMUM
$3.1 $4.2 $6.2
Average car price
54,000 EGP 110,000 EGP 140,000 EGP
MINIMUM AVERAGE MAXIMUM
$1,700 $3,500 $4,600
Bus ticket one way
3.2 EGP 4.8 EGP 9.6 EGP
MINIMUM AVERAGE MAXIMUM
$0.10 $0.16 $0.31
Car Service
130 EGP 190 EGP 380 EGP
MINIMUM AVERAGE MAXIMUM
$4.2 $6.2 $12

Utility cost (monthly)


Utility Bill - Individual
270 EGP 800 EGP 5,400 EGP
MINIMUM AVERAGE MAXIMUM
$8.7 $26 $170
Utility Bill - Couple
370 EGP 1,100 EGP 6,000 EGP
MINIMUM AVERAGE MAXIMUM
$12 $36 $190
Utility Bill - Family
310 EGP 890 EGP 4,900 EGP
MINIMUM AVERAGE MAXIMUM
$10 $29 $160
Internet and cable
110 EGP 210 EGP 290 EGP
MINIMUM AVERAGE MAXIMUM
$3.5 $7 $9.3
Mobile phone charges
86 EGP 140 EGP 430 EGP
MINIMUM AVERAGE MAXIMUM
$2.8 $4.6 $14

Leisure and activities costs


Movie ticket
54 EGP 72 EGP 110 EGP
MINIMUM AVERAGE MAXIMUM
$1.7 $2.3 $3.5
One month gym membership
150 EGP 190 EGP 380 EGP
MINIMUM AVERAGE MAXIMUM
$5 $6.2 $12

Cloths and accessories costs


Pair of jeans or pants
110 EGP 160 EGP 240 EGP
MINIMUM AVERAGE MAXIMUM
$3.7 $5.2 $7.8
Woman dress
110 EGP 150 EGP 480 EGP
MINIMUM AVERAGE MAXIMUM
$3.5 $4.8 $16
Woman shoes
100 EGP 140 EGP 320 EGP
MINIMUM AVERAGE MAXIMUM
$3.3 $4.4 $10
Men's shoes
87 EGP 110 EGP 210 EGP
MINIMUM AVERAGE MAXIMUM
$2.8 $3.5 $6.9
Men suit
96 EGP 120 EGP 640 EGP
MINIMUM AVERAGE MAXIMUM
$3.1 $3.9 $21
Regular t-shirt
48 EGP 64 EGP 190 EGP
MINIMUM AVERAGE MAXIMUM
$1.6 $2.1 $6.2

Housing costs / monthly rent


Studio apartment
1,600 EGP 2,400 EGP 6,400 EGP
MINIMUM AVERAGE MAXIMUM
$52 $78 $210
1-bedroom apartment
2,400 EGP 3,800 EGP 9,600 EGP
MINIMUM AVERAGE MAXIMUM
$78 $120 $310
2-bedroom apartment
3,200 EGP 4,800 EGP 13,000 EGP
MINIMUM AVERAGE MAXIMUM
$100 $160 $420

Housing costs / Buying


Studio apartment
320,000 EGP 480,000 EGP 960,000 EGP
MINIMUM AVERAGE MAXIMUM
$10,000 $16,000 $31,000
1-bedroom apartment
380,000 EGP 640,000 EGP 2.4M EGP
MINIMUM AVERAGE MAXIMUM
$12,000 $21,000 $78,000
2-bedroom apartment
640,000 EGP 1.9M EGP 3.8M EGP
MINIMUM AVERAGE MAXIMUM
$21,000 $62,000 $120,000

Furniture Costs


King Size Bed
2,100 EGP 2,700 EGP 3,600 EGP
MINIMUM AVERAGE MAXIMUM
$70 $87 $120
Double Bed
1,400 EGP 2,100 EGP 2,700 EGP
MINIMUM AVERAGE MAXIMUM
$46 $70 $87
Single Bed
1,300 EGP 1,700 EGP 2,100 EGP
MINIMUM AVERAGE MAXIMUM
$41 $53 $70
Living Room
2,400 EGP 3,100 EGP 11,000 EGP
MINIMUM AVERAGE MAXIMUM
$77 $99 $350
Dining Table
1,100 EGP 1,400 EGP 2,700 EGP
MINIMUM AVERAGE MAXIMUM
$35 $46 $87
Sofa or Couch
1,400 EGP 2,000 EGP 4,300 EGP
MINIMUM AVERAGE MAXIMUM
$46 $63 $140

Electronics and House Appliance Costs


TV Set
1,400 EGP 2,100 EGP 4,300 EGP
MINIMUM AVERAGE MAXIMUM
$46 $70 $140
Fridge or Freezer
1,300 EGP 2,000 EGP 2,700 EGP
MINIMUM AVERAGE MAXIMUM
$41 $63 $87
Washing Machine
1,700 EGP 2,400 EGP 4,300 EGP
MINIMUM AVERAGE MAXIMUM
$53 $77 $140
Stove or Cooker
1,500 EGP 2,000 EGP 2,700 EGP
MINIMUM AVERAGE MAXIMUM
$50 $63 $87
Mobile Phone
1,800 EGP 2,100 EGP 3,100 EGP
MINIMUM AVERAGE MAXIMUM
$58 $70 $99
Laptop or Computer
2,000 EGP 2,400 EGP 4,300 EGP
MINIMUM AVERAGE MAXIMUM
$63 $77 $140

Expenditure to Income Ratio in Sharm el-Sheikh

One of the most definite ways to determine how affordable a place is measuring the ratio of expenses to salary. A high expense-to-income to ratio indicates a high cost-of-living index while a low expenditure-to-salary ratio means the place is affordable to live in.


Spending to Income Ratio

75%

70% to 82%

( expenditure / income ) x 100


Expense to income distribution levels

Spending To Income Ratio% People
< 50%3%
50% - 60%7%
60% - 70%13%
70% - 80%24%
80% - 90%23%
90% - 100%12%
100% - 110%7%
110% - 120%4%
120% - 130%3%
130% - 140%3%
> 140%2%

Interpretation and Analysis

The average spending-to-salary ratio in Sharm el-Sheikh is 75% This means that on average, people spend around 75% of their income for living. According to the distribution table, 13% of the population spend approximately 60% to 70% of their income every month.


How can spending be more than income?

A value higher than 100% means that the expenditure of those people is higher than their income. They are spending more than what they earn. This is possible in two scenarios. They are either borrowing from their savings to survive or they are borrowing from other sources (relatives, friends, banks, etc.). More about this in the debt section.



Individual
68%
Spending-Income-Ratio
63%
74%

Couple
72%
Spending-Income-Ratio
67%
78%

Family
79%
Spending-Income-Ratio
74%
86%

How do people spend their money in Sharm el-Sheikh?

We asked thousands of people about their spending habits and expenditure breaks. Below are their answers.

The percentage figures in this section are percentages of total spending not income. If you would like to see the percentage of expenses as related to income or salary, see other sections.

Housing Expenditure21%

21% of total expenses on average (10% to 29%)

LOW$14   450 EGP
AVERAGE$190   5,800 EGP
HIGH$1,900   58,000 EGP
Per Month

People living in Sharm el-Sheikh typically spend from 10% to 29% of their total monthly expenditure on housing with 21% being the average. The average spend on housing is 5,800 EGP with expenditure ranging from 450 EGP to 58,000 EGP. This cost mainly goes for rent but it also includes other accommodation-related expenses. Housing costs are highest for families and lowest for students as expected.

Utilities, Electricity, Water8%

8% of total expenses on average (5% to 12%)

LOW$2.4   74 EGP
AVERAGE$31   970 EGP
HIGH$310   9,700 EGP
Per Month

Utility expenditure like electricity, water, and gas in Sharm el-Sheikh ranges from 5% to 12% of total expenses with 8% being the average. The average monthly cost of utilities is 970 EGP with 74 EGP and 9,700 EGP being the upper and lower limits.

Transport, Fuel, Commute6%

6% of total expenses on average (2% to 10%)

LOW$4.8   150 EGP
AVERAGE$63   1,900 EGP
HIGH$630   19,000 EGP
Per Month

Fuel consumption and cost of transport depend heavily on whether you live near your work or school, but roughly speaking you would expect to spend from 150 EGP to 19,000 EGP on commuting with 1,900 EGP being the norm for most people in one month. This means that money spent on transport constitutes about 6% of total spending on average but can go as low as 2% or as high as 10%.

Food and Groceries Cost29%

29% of total expenses on average (21% to 35%)

LOW$12   370 EGP
AVERAGE$160   4,800 EGP
HIGH$1,600   48,000 EGP
Per Month

The average outlay on groceries in a month in Sharm el-Sheikh is 4,800 EGP. The cost of groceries can range between 370 EGP to 48,000 EGP. People spend on average about 29% on food and groceries with upper and lower bounds of 21% and 35% respectively.

Healthcare and Medical Services11%

11% of total expenses on average (6% to 14%)

LOW$3.4   100 EGP
AVERAGE$44   1,400 EGP
HIGH$440   14,000 EGP
Per Month

People in Sharm el-Sheikh allocate 6% to 14% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 11%. The range of medical expenses range from 100 EGP to 14,000 EGP with 1,400 EGP being the norm.

Leisure and Shopping4%

4% of total expenses on average (2% to 8%)

LOW$1.9   60 EGP
AVERAGE$25   770 EGP
HIGH$250   7,700 EGP
Per Month

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 60 EGP to 7,700 EGP with 770 EGP being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 4% for most residents.

Education and Schooling5%

5% of total expenses on average (3% to 11%)

LOW$2.9   89 EGP
AVERAGE$38   1,200 EGP
HIGH$380   12,000 EGP
Per Month

Spending on education can vary drastically between different people. While working singles can spend 0% on education, families and students' expenditure can reach up to 22%. On average, education constitutes 5% of the monthly expenditure with 3% and 11% being the lower and upper bounds respectively. The average reported education cost is 1,200 EGP per month with 89 EGP being the minimum spent amount and 12,000 EGP being the maximum.

Other Expenses15%

15% of total expenses on average (10% to 22%)

LOW$6.3   190 EGP
AVERAGE$81   2,500 EGP
HIGH$810   25,000 EGP
Per Month

How much money can you save in Sharm el-Sheikh every month?

We asked thousands of people what percentage of their income can they save in a month. Below are the answers.


What percentage of people in Sharm el-Sheikh manage to save money from their income every month?


Saving Money
40%
Not Saving
60%

Almost 40% of the surveyed people in Sharm el-Sheikh said that they can save some money at the end of each month while 60% said that aren't saving anything.


Percentage of people saving money by population group in Sharm el-Sheikh

GroupSaversNon Savers
Singles48%52%
Couples44%56%
Families40%60%

Savings-to-Income Ratio

The savings-to-income ratio is measured as the percentage of income that people save over a specific period and it is simply calculated by dividing the saved money by total income and then multiplying the result by 100. (Savings / Income) x 100.


Saving to Income Ratio

6% 12% of income 23%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

430 EGP
$14
5,600 EGP
$180
56,000 EGP
$1,800
MINIMUM AVERAGE MAXIMUM

For most people, 6% to 23% of their monthly income is what they can allocate to their savings, with 12% being the average. The amount of money that people can save is approximately 5,600 EGP on average with savings ranging from 430 EGP to 56,000 EGP.

48% of surveyed singles reported some of their income going to savings while 44% of couples said the same. 40% of families confirmed their ability to save money.


How much money do people actually save in Sharm el-Sheikh?

The amount of money that people can afford to save depends hugely on their income. It is better to focus on the percentage when trying to understand saving patterns.


Singles

Saving to Income Ratio

8.6% 15% of income 25%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

1,300 EGP
$42
3,900 EGP
$130
26,000 EGP
$840
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for singles

Saving To Income Ratio% Singles
0% - 10%35%
10% - 20%27%
20% - 30%17%
30% - 40%10%
40% - 50%8%
> 50%3%

Interpretation and Analysis

Singles who can afford to save reported that they allocate from 8.6% to 25% of their monthly income to savings, with 15% being the average for most singles. The average amount of money that singles are able to save is 3,900 EGP with 1,300 EGP and 26,000 EGP being the minimum and maximum respectively.


Couples

Saving to Income Ratio

6.8% 14% of income 24%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

2,200 EGP
$70
6,500 EGP
$210
35,000 EGP
$1,100
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for couples

Saving To Income Ratio% Couples
0% - 10%39%
10% - 20%29%
20% - 30%20%
30% - 40%5%
40% - 50%5%
> 50%2%

Interpretation and Analysis

Couples who confirmed their ability to save reported saving equivalent to 6.8% to 24% of their monthly income, with 14% being the average for most couples. The average amount of money that couples can save is 6,500 EGP with 2,200 EGP and 35,000 EGP being the minimum and maximum respectively.


Families

Saving to Income Ratio

6% 11% of income 22%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

3,000 EGP
$98
8,700 EGP
$280
48,000 EGP
$1,500
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for families

Saving To Income Ratio% Families
0% - 10%42%
10% - 20%32%
20% - 30%21%
30% - 40%2%
40% - 50%2%
> 50%1%

Interpretation and Analysis

Families in Sharm el-Sheikh can save anywhere between 6% to 22% of their monthly income, with 11% being the average for most families. The average amount of money that families can put aside is 8,700 EGP with 3,000 EGP and 48,000 EGP being the minimum and maximum respectively.

A typical and healthy budgeting structure

The 50/30/20 rule

Spending among different people can vary significantly based on factors such as their income, lifestyle, location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule, which suggests allocating your income into three main categories in the following percentages.

  • 50% for needs and financial obligations

    This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.

  • 30% for wants and discretionary spending

    This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.

  • 20% for savings and emergency fund

    This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.

About financial planning, money management, and household budgeting

The 50/30/20 rule is used as a general guideline but may not be the best choice for all people. There are in fact many budgeting plans out there like the 70/20/10 and the 60/20/20 rules, all claiming to be the best. More important than all of this is to establish financial discipline by creating a budget tailored to your specific financial goals and situation. It is very important that your financial outflow be less than your income to maintain a healthy cash flow.

Affordable living in Sharm el-Sheikh

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Sharm el-Sheikh?


Yes
37%
No
63%

Around 37% of surveyed residents think that living in Sharm el-Sheikh is affordable with proper budgeting while 63% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Sharm el-Sheikh

People are always looking for ways to cut down expenses and reduce expenditures. The hallmark of any affordable place is the availability of discount stores, bargain deals, smart or secondhand shopping, refurbished items, and couponing. We asked residents how easily cost-cutting is and the answers were distributed as follows:

Plenty of low-cost options44%

Few low-cost options56%


Based on the survey, 44% of the people living in Sharm el-Sheikh have no problem finding low-cost alternatives to support a frugal lifestyle while 56% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.

Emergency Funds

An emergency fund is a financial safety net comprised of easily accessible savings set aside to cover unexpected expenses or financial emergencies, typically amounting to three to six months' worth of living expenses. We asked residents of Sharm el-Sheikh whether they have an emergency fund and the answers were as follows.

Yes33%

No68%


Based on the survey, 68% of the people living in Sharm el-Sheikh said that they don't have an emergency fund while 33% said that they do.

Financial Literacy in Egypt

Financial literacy is the knowledge of concepts and principles related to personal finance that allow individuals to make informed decisions regarding their money such as budgeting, saving, investing, borrowing, managing debt, financial risk management, and planning.

Financial Leteracy38%


We asked residents of Egypt whether they acquired any adequate personal financial training in their lives. Approximately 62% of the people who participated in the survey said that they are not well informed about the topics of budgeting, saving, etc., and just manage things based on their own experience, while 38% said that they know about the general principles of personal finance from sources other than their own experience.


Difficulty in Budgeting and Financial Planning

We wanted to understand whether residents of Egypt have problems or difficulties in managing their expenditures and savings so asked the people one simple question: do you struggle with your personal finances? 66% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 34% said that they have everything under control.

Struggles with finance66%

Easily manages finances34%

Financial goals of people in Sharm el-Sheikh

In an attempt to understand the economic situation in Sharm el-Sheikh, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.


Financial Goal% People
Emergency Fund9%
Debt Reduction49%
Retirement Savings12%
Education Funding6%
Homeownership19%
Investing5%
Travel or Lifestyle4%
Healthcare Expenses17%
Financial Independence2%

Around 9% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 49% said their number one priority is to pay off high-interest debt or loans and improve credit. 12% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 6% reported that their priority is saving for the tuition fees and education costs of their children while 19% choose to buy a home or pay off existing mortgage before other things. 5% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 4% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 17% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Saving Challenges in Sharm el-Sheikh

Reasons that make it difficult for people to save money

We wanted to understand what is stopping people from maximizing their savings in Sharm el-Sheikh. Listed below are the answers given by the survey participants.


Reason% People
Low Income4%
High Expenses7%
Debt and Loans10%
Lack of Budgeting Skills12%
Impulsive Spending13%
Financial Emergencies8%
Living the moment5%
Will do it later23%
Inflation15%
Social Pressure2%
Market Instability1%

Around 4% of the people said that their salary is too low to accommodate a portion for savings while 7% said that the high cost of living leaves little room for savings. 10% of the residents said that they are burdened with debt and find it challenging to save money. 12% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 13% blamed impulsive spending as the reason for saving inability. Around 8% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 5% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 23% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 15% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 2% said that social pressure and keeping up with peers or societal expectations makes them overspend. Lastly, 1% blamed market instability and price fluctuations.

Typical saving choices for people in Sharm el-Sheikh

Where do people choose to put their savings?


Saving Type% People
Emergency Funds13%
Gold15%
Savings Accounts16%
Retirement Accounts9%
Cash Savings24%
Real Estate8%
Investment4%
Stocks3%
Bonds4%
Mutual Funds1%
Certificates of Deposit2%

Retirement, pension plans, and life after work in Sharm el-Sheikh

What does the retirement lifestyle look like in Sharm el-Sheikh and how much retirement savings are required?

Retirement age

The retirement age for most employees in Egypt is 65 years. Specific retirement ages can vary based on factors like occupation, gender, years of contribution, and location. It is not entirely unlikely for people to retire either before or after this age.

Retirement planning and savings

There are many retirement saving options, some are personally initiated and others are government-sponsered. Regardless of the source of savings, the minimum amount of money that needs to be put aside to ensure a peaceful and comfortable retirement at each age can be found in the table below. This data is largely approximated and can vary drastically based on individual needs and situations. Treat these figures as a general guideline.


The typical saved amount of money you should have at every age as multiples of monthly salary:
AgeAmount
255x monthly salary at age 25
3010x monthly salary at age 30
3515x monthly salary at age 35
4025x monthly salary at age 40
4532x monthly salary at age 45
5048x monthly salary at age 50
5556x monthly salary at age 55
6064x monthly salary at age 60
6578x monthly salary at age 65

The typical average saved amount of money you should have at every age in Sharm el-Sheikh:
AgeAmount
2550,000 EGP
30100,000 EGP
35180,000 EGP
40250,000 EGP
45380,000 EGP
50530,000 EGP
55630,000 EGP
60780,000 EGP
65930,000 EGP

Retirement Income Distribution

We asked residents of Sharm el-Sheikh about their retirement income sources and below are the results.

Source% People
Pensions11%
Savings24%
Investments11%
Social Security6%
Annuities6%
Part-time Job18%
Real Estate19%
Dividends and Interest6%

Retirement Monthly Expenses in Sharm el-Sheikh

3,300 EGP
$110
9,900 EGP
$320
66,000 EGP
$2,100
MINIMUM AVERAGE MAXIMUM

Debt, loans, and mortgages in Sharm el-Sheikh


Percentage of people who are in debt


In Debt
32%
Debt Free
68%

According to the survey, 32% of the people in Sharm el-Sheikh have some kind of debt, loan, mortgage, or credit card payments while 68% reported that they don't have financial obligations to banks.


Debt-to-income ratio in Sharm el-Sheikh

Debt to income ratio

28%

21% to 35%

( monthly debt payment / monthly income ) x 100

Interpretation

The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 28% of the people's monthly income in Sharm el-Sheikh goes to debt settlement.


Debt levels

Monthly debt settlement payment as percentage of monthly income

Debt-to-income ratio% People
> 60%4%
50% - 60%22%
40% - 50%17%
30% - 40%19%
20% - 30%7%
10% - 20%8%
0% - 10%24%

According to our data, 4% of the debtors in Sharm el-Sheikh pay 60%+ of their income as debt settlement while 22% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 17% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 19% dedicated 30% to 40% of income for same. Things are looking brighter for 7% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.


Distribution by type of debt in Sharm el-Sheikh

Debt% People
Real Estate Mortgage5%
Auto Loan10%
Student Loan5%
Credit Card33%
Personal Loan47%

5% of debtors in Sharm el-Sheikh confirm that real estate mortgages constitutes the main part of their outstanding debt while 33% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 10% of people and personal loans rose at 47%. Lastly, student loans are the main source of debt for 5% of debtors in Sharm el-Sheikh.


About credit score and debt management

Managing debt is a critical aspect of maintaining a favorable credit score. Debt reduction is the first thing you should do improve your financial situation. Getting rid of debt takes precedence over saving money because of interest rates.

Good debt vs. Bad debt

Not all debt is bad. Good debt typically refers to borrowing money for investments that can increase in value or generate income over time like purchasing a home or acquiring student loans. On the other hand, bad debt involves borrowing for things that fail to generate lasting value like high-interest credit card debt used for non-essential expenses like luxury items or vacations.


Loan Affordability Index in Sharm el-Sheikh

Besides measuring the loan-to-income ratio, we asked residents of Sharm el-Sheikh how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.

Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.

Frequency% People
Never47%
Once a year25%
Twice a year13%
Three times a year10%
Four times a year5%

Housing costs, accommodation, and housing affordability in Sharm el-Sheikh

Rental costs and house/apartment prices can vary drastically between different areas and locations.


Rent Cost in Sharm el-Sheikh

Monthly Rent Prices

Studio apartment
1,600 EGP 2,400 EGP 6,400 EGP
MINIMUM AVERAGE MAXIMUM
$52 $78 $210
1-bedroom apartment
2,400 EGP 3,800 EGP 9,600 EGP
MINIMUM AVERAGE MAXIMUM
$78 $120 $310
2-bedroom apartment
3,200 EGP 4,800 EGP 13,000 EGP
MINIMUM AVERAGE MAXIMUM
$100 $160 $420
3-bedroom apartment
3,800 EGP 6,400 EGP 17,000 EGP
MINIMUM AVERAGE MAXIMUM
$120 $210 $570
Furnished apartment
7,700 EGP 19,000 EGP 38,000 EGP
MINIMUM AVERAGE MAXIMUM
$250 $620 $1,200
Townhouse
6,400 EGP 9,600 EGP 27,000 EGP
MINIMUM AVERAGE MAXIMUM
$210 $310 $890
House
7,700 EGP 19,000 EGP 38,000 EGP
MINIMUM AVERAGE MAXIMUM
$250 $620 $1,200
Villa
9,600 EGP 24,000 EGP 38,000 EGP
MINIMUM AVERAGE MAXIMUM
$310 $780 $1,200

The monthly rental cost of a studio apartment in Sharm el-Sheikh ranges between 1,600 EGP and 6,400 EGP, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 2,400 EGP to 9,600 EGP. Two-bedroom rentals rate ranges between 3,200 EGP and 13,000 EGP per month. The monthly rental for a three-bedroom apartment ranges from 3,800 EGP to 17,000 EGP. The average rent of a townhouse in Sharm el-Sheikh is around 9,600 EGP while house rental costs can be as high as 19,000 EGP per month. Finally, if you want to rent a villa, expect to pay anywhere from 9,600 EGP to 38,000 EGP per month.



Apartment and house prices in Sharm el-Sheikh

Cost of buying a property

Studio apartment
320,000 EGP 480,000 EGP 960,000 EGP
MINIMUM AVERAGE MAXIMUM
$10,000 $16,000 $31,000
1-bedroom apartment
380,000 EGP 640,000 EGP 2.4M EGP
MINIMUM AVERAGE MAXIMUM
$12,000 $21,000 $78,000
2-bedroom apartment
640,000 EGP 1.9M EGP 3.8M EGP
MINIMUM AVERAGE MAXIMUM
$21,000 $62,000 $120,000
3-bedroom apartment
2.1M EGP 3.2M EGP 9.6M EGP
MINIMUM AVERAGE MAXIMUM
$69,000 $100,000 $310,000
Townhouse
2.7M EGP 6.4M EGP 24M EGP
MINIMUM AVERAGE MAXIMUM
$89,000 $210,000 $780,000
House
3.2M EGP 19M EGP 27M EGP
MINIMUM AVERAGE MAXIMUM
$100,000 $620,000 $890,000
Villa
3.8M EGP 21M EGP 32M EGP
MINIMUM AVERAGE MAXIMUM
$120,000 $690,000 $1M

The average price of a studio apartment in Sharm el-Sheikh can range from 320,000 EGP to 960,000 EGP depending on location. One bedroom cost can be anywhere from 380,000 EGP to 2.4M EGP. A villa can cost you 21M EGP on average with prices ranging from 3.8M EGP to 32M EGP.


If you're leasing or purchasing, housing costs in Sharm el-Sheikh will probably constitute your biggest expenditure, yet it's an area where you wield considerable influence. This is due to the substantial variance in housing prices across communities. Keep in mind the location of your workplace and the accessibility of essential amenities to prevent negating the savings from lower rental rates with increased transportation expenses.

House / apartment prices to income ratio


Property price to income ratio

( average property price / average monthly income ) x 100


24 x67 monthly income 160
MINIMUM AVERAGE MAXIMUM

Property prices in Sharm el-Sheikh can be x67 to x160 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x67 multiples of the average monthly salary in Sharm el-Sheikh.



Rent to income ratio


Rent to income ratio

( monthly rental / monthly income ) x 100


15% 24% of income 33%
MINIMUM AVERAGE MAXIMUM

The average rent-to-income ratio in Sharm el-Sheikh is around 24%. This means that people pay 24% of their income for rent. Those figures can range from 15% to 33% depending on the salary, location, and type of property.


The housing-to-income ratio is a very important metric to evaluate and measure how affordable living is in a particular area, city, or country since housing comprises the biggest chunk of expenditure. A higher housing to income ratio means that the place is relatively expensive. The figure by itself does tell much. It only starts to make sense when comparing the housing to income ratio across different locations.

Housing affordability index

The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.

Housing Affordability Index
22%

Property Taxes

Real estate owners pay property taxes to local tax authorities, which are determined by the assessed value of their property. Typically, these taxes are paid once a year. Property tax funds contribute to community development, financing infrastructure improvements, public services, and local education initiatives.


FROM
1.7%
AVERAGE
2.7%
TO
3.6%

Home Maintenance Costs

Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.


30 EGP 390 EGP 3,900 EGP
MINIMUM AVERAGE MAXIMUM

Urban vs. rural living costs

Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.


Single
Spending habits, consumption analysis, and expenditure patterns for a single person living in Sharm el-Sheikh

Housing27%

27% of total expenses on average (15% to 39%)

LOW$52   1,600 EGP
AVERAGE$160   4,800 EGP
HIGH$1,000   32,000 EGP
Per Month

Utilities, Electricity, Water9%

9% of total expenses on average (5% to 14%)

LOW$8.7   270 EGP
AVERAGE$26   800 EGP
HIGH$170   5,400 EGP
Per Month

Transport, Fuel4%

4% of total expenses on average (2% to 10%)

LOW$12   360 EGP
AVERAGE$35   1,100 EGP
HIGH$230   7,200 EGP
Per Month

Food and Groceries20%

20% of total expenses on average (14% to 25%)

LOW$23   720 EGP
AVERAGE$69   2,100 EGP
HIGH$460   14,000 EGP
Per Month

Healthcare13%

13% of total expenses on average (7% to 17%)

LOW$13   400 EGP
AVERAGE$39   1,200 EGP
HIGH$260   8,000 EGP
Per Month

Leisure, Shopping2%

2% of total expenses on average (1% to 5%)

LOW$7.2   220 EGP
AVERAGE$22   670 EGP
HIGH$140   4,500 EGP
Per Month

Education1%

1% of total expenses on average (0.00% to 3%)

LOW$2.9   89 EGP
AVERAGE$8.7   270 EGP
HIGH$58   1,800 EGP
Per Month

Other Expenses23%

23% of total expenses on average (15% to 27%)

LOW$26   800 EGP
AVERAGE$78   2,400 EGP
HIGH$520   16,000 EGP
Per Month


Couple
Average monthly living expenditure breaks and spending patterns for couples in Sharm el-Sheikh

Housing24%

24% of total expenses on average (17% to 34%)

LOW$80   2,500 EGP
AVERAGE$240   7,400 EGP
HIGH$1,300   39,000 EGP
Per Month

Utilities, Electricity, Water8%

8% of total expenses on average (6% to 12%)

LOW$12   370 EGP
AVERAGE$36   1,100 EGP
HIGH$190   6,000 EGP
Per Month

Transport, Fuel8%

8% of total expenses on average (2% to 13%)

LOW$29   890 EGP
AVERAGE$87   2,700 EGP
HIGH$460   14,000 EGP
Per Month

Food and Groceries18%

18% of total expenses on average (13% to 23%)

LOW$34   1,000 EGP
AVERAGE$100   3,100 EGP
HIGH$540   17,000 EGP
Per Month

Healthcare15%

15% of total expenses on average (9% to 19%)

LOW$27   820 EGP
AVERAGE$80   2,500 EGP
HIGH$420   13,000 EGP
Per Month

Leisure, Shopping3%

3% of total expenses on average (0.00% to 6%)

LOW$14   450 EGP
AVERAGE$43   1,300 EGP
HIGH$230   7,200 EGP
Per Month

Education1%

1% of total expenses on average (0.00% to 3%)

LOW$4.8   150 EGP
AVERAGE$14   450 EGP
HIGH$77   2,400 EGP
Per Month

Other Expenses22%

22% of total expenses on average (16% to 28%)

LOW$41   1,300 EGP
AVERAGE$120   3,800 EGP
HIGH$660   20,000 EGP
Per Month


Family
Average monthly expenses and break out of spending for families living in Sharm el-Sheikh

Housing23%

23% of total expenses on average (18% to 33%)

LOW$110   3,300 EGP
AVERAGE$310   9,500 EGP
HIGH$1,700   52,000 EGP
Per Month

Transport, Fuel4%

4% of total expenses on average (2% to 6%)

LOW$27   830 EGP
AVERAGE$77   2,400 EGP
HIGH$420   13,000 EGP
Per Month

Food and Groceries22%

22% of total expenses on average (15% to 28%)

LOW$61   1,900 EGP
AVERAGE$170   5,400 EGP
HIGH$950   29,000 EGP
Per Month

Healthcare12%

12% of total expenses on average (8% to 17%)

LOW$27   830 EGP
AVERAGE$77   2,400 EGP
HIGH$420   13,000 EGP
Per Month

Leisure, Shopping2%

2% of total expenses on average (0.00% to 6%)

LOW$17   520 EGP
AVERAGE$48   1,500 EGP
HIGH$270   8,200 EGP
Per Month

Education13%

13% of total expenses on average (6% to 21%)

LOW$47   1,500 EGP
AVERAGE$140   4,200 EGP
HIGH$740   23,000 EGP
Per Month

Other Expenses17%

17% of total expenses on average (10% to 22%)

LOW$41   1,300 EGP
AVERAGE$120   3,600 EGP
HIGH$640   20,000 EGP
Per Month


Student
Cost of living and expenses break down for students living in Sharm el-Sheikh

Housing15%

15% of total expenses on average (10% to 21%)

LOW$27   830 EGP
AVERAGE$67   2,100 EGP
HIGH$120   3,700 EGP
Per Month

Utilities, Electricity, Water7%

7% of total expenses on average (5% to 11%)

LOW$4.5   140 EGP
AVERAGE$11   350 EGP
HIGH$20   620 EGP
Per Month

Transport, Fuel3%

3% of total expenses on average (3% to 9%)

LOW$7.8   240 EGP
AVERAGE$20   610 EGP
HIGH$35   1,100 EGP
Per Month

Food and Groceries24%

24% of total expenses on average (18% to 28%)

LOW$22   690 EGP
AVERAGE$56   1,700 EGP
HIGH$100   3,100 EGP
Per Month

Healthcare10%

10% of total expenses on average (7% to 13%)

LOW$6.7   210 EGP
AVERAGE$17   520 EGP
HIGH$30   930 EGP
Per Month

Leisure, Shopping2%

2% of total expenses on average (1% to 6%)

LOW$5.6   170 EGP
AVERAGE$14   430 EGP
HIGH$25   780 EGP
Per Month

Education18%

18% of total expenses on average (11% to 23%)

LOW$21   660 EGP
AVERAGE$53   1,600 EGP
HIGH$96   3,000 EGP
Per Month

Other Expenses20%

20% of total expenses on average (14% to 26%)

LOW$17   520 EGP
AVERAGE$42   1,300 EGP
HIGH$76   2,300 EGP
Per Month
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