Rania Al-Mashat: "The Egyptian Minister of Tourism" | Talks at Google

Welcome. Dr. Daniel, Mashhad your, excellency, the Minister of Tourism for. The Republic of Egypt welcome. To talks at Google a. Doctor. Rania. Is. Is. The youngest minister. In. Egypt, ever, and. She. Is responsible, for. Tourists. A very. Vibrant sector. In Egypt, of, course. She. Has had a trailblaze. Of, the caring year PhD. At 25, years old, from. University. Of Maryland. And, in. The US and, worked. At the IMF International. Monetary, Fund and, and. Returned. To 2kai, to, Egypt to, help with. The economy as. A. Sub, governor, of the, Central, Bank of each very. Important, jobs. And then returned, back to the IMF. On. This. Trail, she he was named. The most. Out. Of the 50, top most, influential, women. In the Egyptian, economy. And. Is. Also, a, young. Global leader. And. Was appointed. Minister. Of Tourism, in. January, 2018, right so, welcome dr. Daniel thank, you very much Liam for the introduction, and thank, you everyone for taking. The time to come and listen to me. It's. Very honourable to be here at Google of. Course all of us, use. Your search engines, more. Than one time a day and. It's, wonderful, to to. Be in a hub that, promotes, innovation, that. Promotes. Ways. Or, finds tools to, actually, cope. With, the fourth Industrial Revolution, thank. You for making the time I know you have a very busy schedule and really we we want to take this, opportunity to know, more about dr., Anya your personal, journey. You've. Had an acceleration. And. Accelerated. Career, and the. Question is. Where. Is it at, what time really, you felt that there was a turning. Point there, was this. Inflection. Point I would say. Okay. Well first. I'm. Rania, Alma. Shot I, I'm. The, eldest. Daughter. In. A. Family where I have two siblings, two. Younger brothers and. A. Very. Proud Egyptian. Someone. Who does not really, see. Gender. Differences I think, that was part of the upbringing. Let's. Talk about that yes yes, and. My. Journey is one that, that. Is. Started. When I was seven years old I come from a family where my father. Is. A, political scientist and. Growing. Up the, house was, full of politicians and public figures at, a very young, age so. I would see all my father's friends, at. Home having dinner and then. The following day they. Would either be on the radio or in. The newspaper or on. TV, so. Are seven years old and you know so, I see them at home having, fun and having dessert and salad and stuff and discussions, and then the next day they're. All over the news and stuff and and the only thing that was common, between all these people was. That they all had PhDs, okay. So at the age of seven they would ask me what do you want when you grow up what. Do you want to be and I said doctora. You. Know the. The, concept, that through. Education. You, are able to have, influence, through. Being. Good at a subject matter you. Are able to be. Credible I think, this was really what shaped. My. Interests, from a very young age so, really, at the age of seven they would ask me what you want growing, up and I would say a PhD, because I want to be influential mm-hmm, and. Rightly. So growing, up I was always good, at school. Came, College time I went, to the American University in Cairo yes, there's. A funny story around that but I don't know how much time we have because. When you ask about the we, have time okay you, asked about the inflection points, there was many always, time for funny stories yeah there is my life even. Though it's you, know it's. It's. Good. Positions. Successful. Posts, but. There, are anecdotes. Which. Leave. Me believing and this I always say. We. Are a massive energy and. So. Whatever. You. Think of, you. Can really achieve and. The. Universe conspires, for. You not. Against, you and. When. I was when, I was around. I. Was here actually in the UAE around. High-school time I was. Actually in a lion my. Father was teaching at airline university. Dubai. Was very nascent at the time and there was only the warrior centre and so forth but.

I Did, a foreign certificates. In. In, a lion and in. Egypt at the time you can actually skip two, years of high school and go to college if you had a foreign certificate, so. I finished, 10th, grade and was. Applying to go to university, in Egypt you. Know you're, going from high school to university you're. Buying clothes, you're. You're, so excited you're going to be you, know able. To drive maybe to go to college, you have classes, it's not a classroom like in high, school and, then. Two. Weeks before college starts. The. Minister of Education, with. One signature takes out a decree that, says you, have to have three years of high school so. Like my whole. Concept. And dream of going, to university. Just. Got shattered and, but. Then, and. That's when I tell you the you know the universe conspires for you. We. Came back to UAE I. Was, very upset half. Of my health hair, fell off very. Very depressed so. My mom told my dad when, I'm you have to go and help rania go to Egypt, and find some things like go do what she, said I don't know she's. Upset you have to do something so my poor dad leaves. You Amy it goes on a trip to Cairo. Accent. Schools raises. Files, a lawsuit, with, other parents because, they cannot do this like, you know two weeks before school starts our university starts and then. He, met one of his old friends and. He told him man, I'm why are you so upset just go to the AUC they. Have a system which is different than the than. Them. America you go to America, it's, a system other than the government universities. So, my dad went and they. Told him yes of course you can apply but the thing is tomorrow morning at 8:00 a.m. she has to be in e were told to, do her aptitude test an English test mm-hmm. And I was in UAE yes, so, my dad calls, can. You get on a flight tonight, to, be at a UC 8. A.m., because this is like a test for all applicants. So. I rightly do take a flight and, there's another funny story about it on the way from a line to. Dubai to take the flight Air France. The. The. Tire of. The, car you. Know burst my. To my father's friends and, we had to take a taxi anyway and they called my name I was I was I just made it on the flight I arrived, in Cairo. 6:30. A.m. on that, Air France flight and I. Go, take the English test and the aptitude test and rightly, so I get into university, at. The American reversed in Cairo this, was in 1991, and. At. That time in 1991. Since we're here you know talking about digitalization. And Google and all that computers. Were very new at. That time there was a floppy disk yes the, five and a half floppy, disk and. In. 1991. Every. Parent wanted their kids to be a computer scientist and a. You see at the time did. Not have. Engineering. For hardware but. There, was programming, software, so my parents kept on telling me you have to be a computer scientist, you have to be a good go, into computer, sorry. I do my advising, I take 106 like, I you know I declare computer, I spent. Two years as, a computer science major of course acing all my classes having, the highest GPA. But. Sitting. With myself I would say I would never. Do. Anything. Related. To computer, unless I had an assignment from a professor so. If I graduate, how am I supposed to show. My. True self how am I supposed to show my skills if it's, only fulfilling. An assignment. So. Anyway I told my professors, I. In computer science of course everyone was shutting it's here how come you're the number one da da da da da then. My parents are like go, to Business Administration, that's the highest, second. GPA in. The school so I declared, Business. Administration, for one semester which, I also hated because. It was all about you. Know 14. Multiple-choice, questions. And you know I always ask that as well so and then my my. Late father's, friends, very. Close to us he told me Ron Young economics. Science. It's, a discipline. That. That. Has, a history. Why. Don't you declare. Economics. So at a UC I spent two. Years computer, science major one. Semester Business, Administration, major and, then one and a half year as an, economics major all, right I graduated. From a UC in June, 1995. I was, on a plane to, the US, on July, 4th, 1995. Another. Funny story. So. Entering in, Turin University I, told you the story, now. During. My graduating, senior year, I. Told my mom and dad one day I'm going to go and do my GRA GRE, tests. So. They said why I said because I'm going to graduate and, I'm gonna go into my PhD. But. You, know I don't, want you to travel and do your PhD you work. Here a little bit to get married and then you go into your country.

So. Then I went to my father and told him I, want. To travel I want to go do my GRU, because I want to travel and do my PhD and he said well did you ask your mom alright. Guys I told you this since I was 7 I was very clear with what I wanted so anyway. I got. Refused. From both parents no, traveling so. Then I applied. To. Different of course jobs, at that time ok. In Cairo, the. Best job for any a UC graduate, was PNG that was, the number one job because, it was the only multinational. Procter. Gamble. So. I did I got you know an offer from Procter and Gamble I got an offer to. At the Social Research Center, at the American University I got a scholarship to do my masters. At America, universe called the Sasakawa scholarship, and, then. In. December. Of 1994. My. Father was asked by the Egyptian government to, be the, cultural. Attache, for Egypt, in Washington DC all right so he traveled to the United States in January 1995. He. Came attended. My graduation, in June 1995. And then the whole family, was. On a plane to. The, u.s. in July, 1995. And I started my PhD in August that's the universe. Conspiring. For you are you so you set your goals you, believe in what you want you. Close your eyes and you see that dream and, trust, me it will happen that's. Amazing, so you discovered, the economics. Late. A little bit late in your university. Degrees, and then you went on to become a PhD. Doctor in economics. Yes and in Maryland. University. Which is she's. One. Of the most famous universities. For economics, right yeah. Economics. Is is. And, what what what was so fascinating and and why I wanted to do a PhD in economics is. At. That time economic, development, and international trade, were, very very big this was at the beginning of the GATT sand and, the. WTO. And. No country, signing, on trade agreements and free trade zones and all that sort of stuff and the, idea, of. Country. Taking. Policies. To. Better. The lives of, its citizens openness. Trade, flow, of. Flow. Of products. These. Were all very fascinating topics. So this idea of a. Laffer, curve and, what is the how, do you how do you how do people become, better off and what your government do all of these were very, very.

Inspiring. Concepts. To. Me so. After. I finished after I finished, that one year and a half as an undergraduate, I said okay the PG that I want is. A PhD in economics, fantastic. So you, you sort of experimented. And didn't, work you changed quickly something, that we promote, a lot in, entrepreneurship, you know if you wanna change, change quickly, or you gonna fail fail quickly and then move on and, then you went on because, you were hired by the, IMF you had a trailblazing. Career. And then and. Then all of a sudden somebody, say you, know the home country calls you back right, and, you. Were extremely successful at IMF because you went around the world advising. Countries. In in. Africa, and Asia I, actually read daughters of the Nile the chapter that you wrote I advised that we want to to, read it and. And, then, when. They called, you back home. Everybody. Was worried right, yes and I I, recall. This from the articles that you're. Too young and you're. You're, a woman, what are you going to go. Back and do that right. In any, way and. Can. You expand a little bit on this and talk about, maybe. Share with the audience the four C's that. Yes. Yeah, just, something, about the. US and, education, and IMF. To. Me. Education. Was always the means. To. Come. Back and serve my country at some point, the. IMF, was also, I. Did, while I was doing my PhD I did two internships, one. At the IMF and what at the World Bank and even. Though they're just like. Across, each other in, Washington, DC the, two institutions, are very different one looks, at financial, stability in. The world one looks at more. Different. Projects, and developmental, projects, and. After. Doing that internship at the IMF I said the, only thing that would keep me in the US would, be if I get a job at the IMF to, me it was a, place, where you learn how to, create. Comprehensive, policy, frameworks, how. You sit. Down with authorities, and countries, whether. It's finance, central, bank trade. And industry different. Different. Ministers. And you have to sit convince. Them with. Certain ways negotiate. And. Explain how you better. The lives of people so to, me it was a very important. Institution. That. Would again serve an. End, in my head but I didn't know when that end would come I mean how I would go back in what, form, and. Then in in, 2000, and in in October of 2004. I. Was. Approached by by. At. The time the Minister of investment, in Egypt, and he said Rania you know why don't you, come. Back to. The central bank, and. I said you know yeah, I mean I when, I was doing my PhD in, Maryland, most of my friends from back in America they would either, go back to the Ministry of Finance or to the central bank but, in Egypt the system didn't allow you. Had to be a to, be as public, servants, you had to, start. From from, right after graduation, so. So. For the first time, in. Egypt's. Government. History. In. 2004. 2005. People. From abroad or from outside the system were allowed to take key. Positions, so. I. I. Was very. Excited I, was. Given. Sub. Governor for monetary policy my PhD is on monetary policy and. Public. Debt management and. My. Friends as you mentioned and the IMF were very worried they're like Rania were worried you're going back to a woman this and that I said this, concept, of women is, something, that I don't think about too much maybe seniority, is more important, given our history. And, then. Comes the. Four C's that you mentioned and, these. Are these are principles, of. Success that I believe in very much and, they. Are in, this order. Competence. Connections. Confidence. And, charm, all. Right and let me separate, a little bit you. Have to be competent, in anything you do and.

You. Gain that competence, from being passionate so when I take look back and I say okay I was going to be a computer scientist I'll probably get a very high GPA, graduate. With honors and, then be employed, but. I probably would I did not have that passion to, sit down and program so. You have to be competent, in what you do when competence, comes by every. Day you're learning something new and you're adding to that discipline, and you're create you're becoming an. Expert in a subject matter so. That's number one number two, connections. Are extremely, important, extremely, important. You, can be competent, but without connections, you. May not get to different places you may not have, networks. You may not have exposure you. May not be referred. To. Go and speak at the conference or, go and. And be nominated, for something and just. To have connections, without competence. Will never work also, it's. It's not going to be a sustained path. Whatsoever. The, third is to have confidence and, there's a very thin. Line. Between, confidence. And arrogance, yes, you're only confident, if you're competent in what you are doing but. If you're not competent. Your, confidence, becomes arrogance, and people, and that's very easy to, to. Be discovered, so so and that's why the order matters. And then the last thing is to be charming and charm. Is. It's. How this intuition, on how to deal, with. People. In different. Circumstances. So for example when. I was subbed of earner and the central bank I was the youngest sub governor and, I. Had. Subordinates. Who were double my age. So. There were at moments, you had to be extremely firm yes. And there are moments where you have to crack a joke, and. When you're in a meeting room and you're the youngest. Most. Competent, female. With. Many senior people. And. You and and that you you have to grab their attention they, have to listen to you and. There's. Just a there's just a way at the meaner of how you present your ideas, how.

You Become very firm at certain points, how you you, become more malleable and more flexible, so this is the this is the charm, is. Is. How, I would describe it is how you deal, with with certain circumstances, so these are my four C's and that's what I told my friends at the IMF these. Are my principles, that I believe in and I will be applying them when, I'm back home so this is a secret sauce right. It's. Formula that help. You accelerate and then and. Then. And. Then after that you you, actually. Were entrusted. With the Ministry. Of Tourism, and. Twenty-eight, you had a lot of things in between but, we're really good to hear about tourism, and Egypt. And. So. It's very counterintuitive. When, you think about it I was. Teaching. Economics spent, five years at the IMF spent, eleven years at the Central Bank of Egypt. Seen. Different, phases of the Egyptian economy. The. Revolution after, the Revolution and then I went back as advisor. To the, IMF chief economist. I. Went. Back to the IMF and in, August. 2016, and then, in January, 2018. While. I'm on mission in Jordan, for. Monetary, policy and financial stability. And. This is also another funny story. So. I before, going to Jordan which. Was on, January. 9th. I was. I, spent, New Year's in C WA and, since. I'm Minister of Tourism I can promote cos he was one of the most fantastic places, in the world. Where. Is it it's it's. In. The desert yes, and. If. You go to the northern coast from, our summit or. It's. An oasis, and. Again. I don't know how much time we have but there's. A place, in see WA if. You make a wish it comes true all right I guarantee. It so. Anyway. I. Was. I I did, my New Year's in ncuih. And then went to Jordan to. To. Lead this mission on monetary policy and financial stability and, from, see why you take say. A salt. And, it's for detoxing, so you know I, take. A very nice bath on. That Wednesday night that, was the 10th, of, January. And sleep at 9:00 p.m., wake, up in the morning and, I have 700, missed calls on my phone of course, the first thing that comes to my mind gotta call my mom in the US are you okay yes what's, wrong they call your dad they called my dad are you ok this is 5:00 a.m. Cairo time he, says yeah where as I was sleeping, Daniel. Call this person Egypt, is looking for you. So anyway I call this person's like we. Want you to come to be sworn in and. I said they're sworn. In for what and he. Says the Minister of Tourism I said guys you you know my career, no, banking. Central. Banking, international. Institutions, economics. Finance. Tourism. Said. Yes the president, thinks that this, sector needs. To be run from. An economic perspective, interesting. And this. Sector represents, 20 percent of Egypt's GDP. Globally. Tourism. Represents, 10 percent of global GDP one, in every ten jobs globally, is in tourism 30. Percent, of. Exports. And services, comes, from the tourism sector. So. Globally. Globally this is globally so the impact of this sector on, a global scale it, is a very big one and. It's. A service sector and. Given. Everything, that we're seeing today with. Respect to. Services. The way they're being changed the way digitalization. Is making, everyone. From their home being able to provide a service it's, just a, very, impactful. Position. To be in so this was on that Thursday, they gave me that call they, changed my flight from. Man, Washington, on Friday morning, to our man Cairo, on Friday morning I was sworn in on Sunday, and. Ten. Days later I had to go to the US and do my settlement and shipped my stuff and I didn't even have clothes to be sworn in it was just a nightmare so all my life we say inflection points I have like this. But. It's, I took over the sector, and. When. I look back at this year, and. Three, months or four months. I. Feel, I. Feel very proud. To. Be able to, impact. Individuals. To. Be able to use. Skills, that. You've learned. In. Driving. Policy in designing, policy, in. Creating. Buy-in. From, different stakeholders, I think. All of this, even. Though it's not, your. Discipline. But. The skills that you gain. Definitely. Equip, you to be. Able to tell, us a little bit more about that I mean economist. Dr.. And. Strategist. Background. Your. Strategy's, definitely, so how what's. Your vision for tourism. In Egypt. It's. A large portion of the economy. Everybody. Here has, Egypt. I hope right we. All have please, more. Than once and it's. It's actually a dream for every person in the world to do it either. So. What's, your vision. Practically. Speaking so. When. I took when. I took over I felt that the. Way the. Sector was handled.

Traditionally. Was, from a very piecemeal approach, so, something. Happens, and we try and go and fix it an, issue here, we try and contain it I. Wanted, to. Apply. Newer. Concepts. I wanted, to change the narrative on. The, sector. And. Something. Very significant. About in. What way you change, the narrative change. The narrative I wanted to. To. Show that we, are applying modern thinking, when. We think of such an important, and vital factor, for the country so, I put. Together the. E trip, a trip is short for Egypt tourism reform program and. It's, a structural. Reform program, that addresses, different. Pillars required. To. Put this sector on a sustainable path so. Legislative. Reform institutional. Reform. New, ways of promoting and. Marketing the, country. Investments. And. Infrastructure. And international. Trends so, for example having the. Stain the sustainable, development goals as the heart of what. We apply. Having. An overarching, objective. Which, is not counting, number of tourists but making sure that every Egyptian household, has at least one person working in tourism that. Is a goal that I. Believe. We. Can achieve and it's, a way to mobilize everyone. Around, the sector our, promotion. Campaign for example just, to give an idea, has. Three, key elements. The. First one is when, I talk about the nary mentioning. The narrative is p2p, people-to-people. We. Want to show Egyptian. People are people of Pride peace, positivity. Progress. Productivity. It's. The power of P people, above politics, and. The. Idea is when. You're talking about travellers today and all of us travel, and we, like to engage with communities, so. It's people and places and we. Are very blessed to have so many destinations in. Our country and every. Destination has. Its, food. Its. Handicrafts. Its. Clothes, the traditions, so. We, want to showcase the. People in different places we also want to showcase contemporary. Egyptians, the perception, that people have sometimes. Women. May. Be staying at home not educated, etc, we, have women who are in sports we, have women who are. In painting I, mean in arts, and music. We. Have very skilled. Actors. And actresses, and so on so it's, it's showing, the contemporary, face. Of either so that's the p2p campaign, then we have the grand Egyptian Museum the gem it's.

Going To open in the fourth quarter of 2020, and. Sixty, Seconds what, is the. Grand Egyptian Museum is going is a museum, a 1 billion dollar, museum. It's, on. The plateau of Giza and, it, is going to be the only Museum in the world dedicated to, one civilization. So. All the pieces in the museum are. From. Pharaonic. Egypt. And, it will have the full collection of Tutankhamun, to thank our Moon is the most famous Pharaoh global, and. Five. Thousand pieces of his collection are in the museum and even though you have Egyptian artifacts. In different places in the world this. Is the only museum, that has the pyramids as its backdrop so. You can take, a selfie with photographer, moon and the prairies at the same time so that you have to do that very. Very tough to be the other thing that this museum holds and, when you know it's just so, breathtaking. You just pass by it, it. Has all these. Ancient. Monuments, inside but, the facade is very contemporary and, this. Is the story you want to tell and, we say the narrative you have the history but also you have the contemporary, meant. To open in 2020. The fourth quarter of 2020, great. Date yes, so. This is fantastic. But. Practically, speaking and, real life is that we have challenges, and when it comes to Egypt, and tourism. You. Know everyone, thinks you. Know the instability, the security. Etc these, are challenging, what how, do you deal with this how do you address. Issues. Like, that yes. We. Have been, through different, episodes. And I think, they. Feed the. Government has invested so much in, the infrastructure, related to security and. Our. Numbers, are back up and people have been voting with their feet. And also, internationally. For. The steps. That the government has taken with respect to security with respect to the reform program, with. Respect to changing this narrative we have award been awarded several. Prizes. Lately, so we from, the world tourism, and travel council Egypt received the champion, award for resilience, and tourism, particularly. For the topic, you mentioned, and. Again. The the the, idea that people, come, have, a good time. Right. About this, reflected. Encourages. Other to come as well so the, government. Mindfully. Puts, all its resources to ensure that everyone, has a safe, and secure trip. Fantastic. So, you. Know we were at the World Economic Forum, in Jordan and I was, really looking forward to your session, which was entitled, tech. In tourism and. We're. You. Know we. Know, a little bit about tech so I really want, to hear your point of view on how tech can, transform. Accelerate. Tourism. Shape the tourism industry in any country as important, as you so. In. In our reform, program the the final pillar is called international, trends.

And, In there there are three areas, green. Tourism, women. Empowerment, and digitalization. And. I. Remember. The days when i was be traveling in the US and we would have to go to triple-a, to get the maps and, open up the map and, you know have you know use our pin and then you don't have these markers. And so forth today you want to travel on your phone. You. Choose. The location you, choose the restaurant you. You. Have a translation, of this you have a translator so really. And. That's why i started, by saying tourism, is a is a services. Sector, and. Everything. That is the, the ease by which automation. Has helped. Services. Be, delivered, to customers in, an easy and and and more. Accessible. Way, means. That. If. You are not joining. This. Fourth. Industrial, Revolution as, it's called or this, innovative. Move, when, it comes to an important. Sector such as tourism you're going to be left left. Out so, everyone, makes their decisions, where to eat where to travel how to travel, who, to meet who's. In a certain place all through, the devices that companies. Like yourself, very. Skillfully, make. Available. And, make accessible. To all of us as, customers so. The, other thing is when, I used to be useful. So. When. I say that our overarching, objective. Is. To have at. Least one individual, in every household, in Egypt working in this sector this. Can be possible by. People. You. Know contributing. One way or another by. Providing services, in an automated in a digital way so this is this is a very. Important. Scope. Where. You ease, the. Experience. Of a visitor and at the same time you are able to. Get many. And more people involved, in providing that service in different ways fantastic. We will watch. This space. Very carefully, and hope to learn, together on on, how this is going to transform. The. Tourism. Industry in Egypt. There. Are a lot of questions, and we really, need to. Sort of. I. Have, a question to ask and everybody's. You. Know what's your favorite site and Egypt, well. To. Be politically, correct. She. Was is, very special. Because. I don't know if people know about this but Alexander the Great, in. One of his expeditions passed. By sea WA and. He. Asked, the priests, in the temple there, the, Temple of the Oracle I. Want. You to go and ask if I'm the son of a moon, so. The priests go into the temple there's. A sacred chamber there and they go and of course they talked to the God a moon and they come out with the verdict which is yes of course. He. Was sort of a moon in in, see you know it's every, place in Egypt is extremely special I don't say this because I'm the minister but. Even. The Seas I mean you you have the Mediterranean, you have the Red Sea and in the Red Sea you have some places not, nemesis, Sharma, share her gada mussalam, Salish just. Keeps going on and on and on Deb if you, are a backpacker, you can have fun if you want to be on a cruise you can have fun if you want, to spend a lot of money you can have fun if you're on a budget you can have fun so it's you. Have the history you have the beach you have the you know many many areas, are. Known for only one type, of product, in Egypt you can combine different things the, grand Egyptian Museum is, going to have a sphinx airport 30, minutes away from it so you can see the museum and then go to Sharma shear for you know continue your leisure and Sun and Beach holiday, so. I I. Think, that. Everyone. In the world being. A kid is fascinated, by the pyramids, and wants to come and and, take. You, know a picture with with a monument, there's, so much that can happen and the first people to use. Instagram, where the Pharaohs, every. Wall how, is that they have so many stories. They've. Posted, all their stories already so it's. The more you eat the more you you, learn and the more you see, and I of course now that I'm a minister I get to spend, more times at temples. The. Genius, behind. This. Civilization. Is. A testament, not just to the Egyptians but to all of humanity. The genius of humanity, is really something that needs to be celebrated, and. You can celebrate it in Egypt anywhere that's, wonderful, thank you so much Daniel. We. Open the floor for questions please, state your name and, you sort. Of what you do at Google. This. Is a mic. Hello. My name is Pierre. So. As. Part of your past you joined networks, like young global leaders how has this type of network and, focused groups helped you in your four, C's and now, do you, still feel that if, if you have not joined what they have had the same trajectory yeah, now thank you for that question. Of. Course young global leaders, this. Is with the World Economic Forum, this is a fascinating. Network, and. You. Know no one can do it on their own. To. Succeed, you need the people around you. To. Celebrate with you to. To. Compete with you to. Help you bro. Networks. Like this provide. You with a very robust, support, system. If. I have personal, problems I, call, if, I, am in a country, in, a city and I want to reach out and have dinner, with a friend I call if, there's a conference I want to attend and I can't get in that's.

The Connection that will get you in so these networks, extremely extremely, extremely, important, I remember. I did a leadership. Course at Harvard with my YGL group and. It's. A very interesting. Concept. There, they, split us up into LD G's LD, G's our leadership, development groups, and. They. Put five people from. The network together and. We. Signed confidentiality, agreements, because. It's really like a psychological, group, we. Basically, pour. Out our problems, and emotions, and so forth so you have the CEO of this company and, you're everybody is really successful and at. The end of the day you discover, that everyone, is very vulnerable. Everyone. Has a weak point so. As much, strength. As. You, need to succeed. And go, forward and so forth it's, normal, to have pitfalls. It's normal, to, feel vulnerable it's normal. To. Need support from different groups so it's it's I mean, at the end of the day human. Interactions, are what lasts your title is going to go away you might, lose a job today, stay. For a while before you get your next job but really what matters at the end of the day is the human interaction, and that's why in a workplace. Or. Whether. You're a boss your colleague, your subordinates. The, human interaction, is what lasts so always invest in it so definitely YGL groups are extremely I mean it's a fantastic, network has, served me tremendously. There. Are other networks that I'm part of and. Always. Look out to determing a mentor always look out to be mentored. There's. There's, a lot to be gained on both sides. My. Name is Farid I'm a customer, engineer on the cloud team to, go back to your roots like yesterday economics a little bit, and. Once the general public, there's a lot of, ambiguity. And lack of clarity about how, our financial and, especially our banking systems were things like fractional, reserves and that creation. Do. You think that is just a result of lack of curiosity or, is it by design and the. Second part of the question fast forward 50 100 years do you think we will have to a radically different system. Something. AMA cleaner yeah. You. Know when you look back at the global, financial crisis, in 2008. Why. Did it happen it, happened because the regulator. Was. Slower, than the market when, it came to innovative. Instruments. That were made available, mortgage-backed. Securities. All. That sort of stuff so. The. Given. The technology given, the innovation. Definitely. The, speed by which, markets. Are. Internalizing. All. This innovation is much faster sometimes, than the regulator regardless, of where the regulator is the. Regulator could be the IMF, the regulator could be a government the regulator could be a central bank the regulator could be in the u.s. could be in the UK could be in a developing country doesn't. Matter but. The. Speed. By. Which things are moving are definitely, faster, than the way regulation, is keeping up and so by design, there.

Is Going to be, some. Sort of wedge, and. The idea is how, do we minimize the. Damage from, that wedge so. All the regulations, that are happening today and everything that is being, thought of and all the discussions, and the panels as how, do you really try and and, close that gap between the the pace of innovation and, the way that you regulate that innovation. You. Know a, few. Years ago who would have thought brexit would happen and the. Implications, and the fallout from that. So. There is there is definitely, a change and cryptocurrencies. So. Much going on and and. The idea is. Regulators. Have to be open to, include. Ideas. And to include, and. You take a look at the, IFI, stew the international, financial institutions for example the World Bank and the IMF annual. Meetings there's, always someone, from FinTech there's always someone. From. The, atypical. Institution. Sitting on a panel because the regulator needs to understand, how. The, system are evolving they're evolving at a very fast pace so absolutely. 2050. I don't know where we'll be but. I. Hope. It's a better world great. Last, question though okay where's the camera okay. Computer, science 106 I remember like. You. Mentioned something critical about people, who tourism people being the core right and if. You go to like Sinai. It's amazing, how experience. Sometimes Trump's, education. You say you see hotel, workers speaking Italian erragadda they speak German and I'm, wondering you know you're mentioning that in every family you want to have someone. In the tourism. Sector so how, are we enabling, how, are you empowering these people, to be and, I'm not talking about Moshe Dean right on talking about the, larger. Tourism. Industry, so, what are we doing in, that regard and do you see a role in tech for example in helping them yeah you, know it's. It's. Very. Unintuitive. That. Egypt's, with all its, riches, and. I was just telling this to colleagues, I have. Never engaged in a lunch, or dinner, conversation. With my parents with my relatives with my friends and anyone telling. Anyone. Get, a job in tourism. Be. A restaurant owner be an Egyptologist, be a guide, go. And open up a hotel it never, happens, I have never ever in my, different circles, my, friends my cousins nobody, has this on mind and this is very strange, right it, comes as a no brainer we have all these beaches and all this history, why don't we capitalize. And leverage, and actually. Get. People, interested, and, trained, and dreaming, of. You. Know being part of, this. Sector so, we're doing many things. Through, the reform program when you take a look at it in, schools we're, going to start competitions, on ethics of tourism, and we're, going to try and see how we can bring role models. Hotel. Owners company owners restaurant. Owners. Startups. Who work in the sector how can they become advocates. Of more people wanting to work in the sector because. Unfortunately the. Perception. As always you're going to be a concern, in, a hotel you're going to be a waiter. The. Idea that it's an export, you're. Going to be an exporter. You, can be a businessman, or a businesswoman you can be an entrepreneur you. Can create, an application, you. Can sell that application, for a lot of money and be. A millionaire you know so there's so much that. Is. Not. Internalized. Because, it's not advertised, I think. That's and, that's when I say we're changing the narrative on. Tourism I think that that was the key when. I do interviews and. I posted on Instagram or, Twitter the feedback, I get from people. Who Egyptians. Living all over the world who say we want to come and work with you we want to be on your team we want to participate what can we do I want, to do this for free it's just creating. That whole. Interest. And hype, about. It and then, try and channel through. Different partnerships, how, we can utilize, what. Has been successful in other countries, and apply it we. Have a very vibrant youth, we, have a very. Engaging. Youth people. Who are extremely smart, but. They want the opportunities, and I think to tourism yeah. You to, tourism there's, so much you can contribute to that, there can be an opportunity for everyone who's interested and who's serious, I think, the mindset is critical. With respect to use in in Egypt for refer to it by. The, way my personal, favorite, it should be on every one bucket list is a nine Cruz who has done the night cruise here, why. Why the rest I haven't, done anything to do, it. Dr.. Anja thank you so much for your time thank you for having and, it's. It's really been. Inspirational. And thank you for for taking I know you were attending.

Conference, You came here especially to, have. These meetings, and interaction, this is this is wonderful, thank you very much thank you. You.

2019-07-25 16:06

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