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Slow travel, wellness retreats, and the rise of intentional journeying

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WHAT WE’RE TRACKING TONIGHT

Export subsidies to top EGP 50 bn in FY 2026-2027 budget

Good afternoon, friends. We have a brisk issue for you today, but there’s plenty to get into. The government is going all-in on exports, with subsidy allocations set to rise to EGP 50 bn in the next budget. We’ve also got markets in flux as the greenback slides and gold breaks USD 5.1k, plus a deep dive into how Trink Global is carving out a niche in personalized group travel.

THE BIG STORY TODAY-

📍FinMin ramps up export subsidies in new budget: The Finance Ministry plans to boost export subsidy allocations to over EGP 50 bn in the FY 2026-2027 budget — up from EGP 45 bn this year — to support a 15% annual growth target of achieving USD 75 bn in total exports by year-end, a senior government official tells us. While the subsidy formula remains unchanged through FY 2027-2028, the increased funding will specifically target industrial localization in the automotive and mobile phone sectors, alongside import substitution initiatives, the source tells us.

^^ Read the full story and more details in tomorrow’s edition of EnterpriseAM.

THE BIG STORY ABROAD-

🌐 The USD is tumbling this afternoon as we dispatch, plunging 0.6% against major currencies and reaching a four-month low. The sell-off has been sparked by US President Donald Trump’s tariff threats over the week, the ongoing crisis in Venezuela, and persistent geopolitical tensions. Gold prices have been driven to an all-time high in a safe-haven surge, surpassing USD 5.1k an ounce.

^^ The story is grabbing widespread headlines in Financial Times, CNBC, Bloomberg, and Reuters.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

  • The Madbouly government is weighing new customs incentives for Egyptians abroad to ease backlash against its crackdown on mobile phone exemptions — but rolling back the policy itself is off the table;
  • The European Bank for Reconstruction and Development has signed an EGP 1.3 bn financing agreement with Ibnsina Pharma. The facility will back a major green logistics expansion by Ibnsina and reinforce the growing role of development finance in sustaining capex as elevated local borrowing costs persist;
  • The Finance Ministry plans to issue zero-coupon bonds in early February for the first time in nearly two years. The move comes as the ministry seeks to capitalize on Egypt’s improved credit rating and a broader strategy to diversify debt instruments and reduce debt-servicing burdens.

☁️ TOMORROW’S WEATHER- We’re in for another cool day in Cairo tomorrow, with the mercury set to peak at just 21°C before further cooling down to 13°C, according to our favorite weather app.

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AFTER HOURS: THE BUSINESS OF TRAVEL

How Trink Global is redefining group travel in Egypt

🎒 Slower, intentional journeying: In an era where traditional travel agencies are competing with online agents and AI, Trink Global has carved out a niche and tapped into a growing global trend; personalized trips, wellness retreats, and slower, more intentional travel. Founded by long-time friends Sara Abou Youssef and Amira Khalil, the company is built on a philosophy that travel should be an immersive, transformative experience — or, as they prefer to call it, a “journey.”

Building a global vision

The seeds for Trink were sown in early 2019 during a 40th birthday trip to Sri Lanka. “Amira and I were both passionate about traveling to “off-the-beaten-track” destinations but we realized that this wasn’t the case for many of the women in our group. Some were traveling alone for the first time and really pushing themselves outside their comfort zones. We could also see how that experience was having a positive impact on them,” Abou Youssef told EnterpriseAM.

The duo bonded over an extended stay in Sri Lanka and decided to turn their passion for planning and exploring into a travel business dedicated to slow experience-led travel and the empowerment of women. While established players like Gazef and Omar Samra’s Wild Guanabana already existed, they catered to a younger type of adventure traveler.

By November 2019, Trink was officially in business with their first group trip to Bali. The business had barely found its footing when the world shut down in March 2020. A planned group trip to Brazil was canceled, and their original international outbound model became obsolete overnight. But Abou Youssef still views the pandemic as a “blessing in disguise.” Forced to look inward, Trink pivoted to the domestic market, finding huge demand for local retreats. They organized yoga and art retreats in places like Sidi Heneish on the North Coast, Siwa, Nubia, and Fayoum.

First-hand and personalized

The business operates on two main tracks: customized itineraries, and scheduled group trips and retreats. The customization side of the business provides detailed, personalized planning for small groups, families, or honeymooners, where every detail — from the architectural style of the accommodation to the daily lunch spot — is matched to the traveler’s personality. “We don’t curate trips for other travel companies, but if you are a yoga instructor or life coach and you would like us to design a retreat for you, that is definitely a service we offer,” says Abou Youssef.

Trink distinguishes itself by focusing on first-hand experiences. They never send clients to destinations they have not personally vetted and at least one of the two founders is always present on each group trip and retreat. “When I’m creating an experience for clients, I’m sharing my own experience, as a traveler,” Abou Youssef says. This commitment to authenticity involves deep research, personal trials of local suppliers, and staying updated on the newest venues and restaurants.

You travel, we think

In its early years, Trink was a two-woman operation. Leveraging Khalil’s master’s degree in information systems and a “do-it-yourself” ethos, they built their own website on WordPress and grew their first 8k social media followers entirely in-house. The only element they outsourced was their branding — the name “Trink” being a portmanteau of “Travel” and “Think.”

“You travel, we think,” became their slogan, reflecting their goal of taking people on carefree journeys where all logistics are handled. They were ahead of their time in that regard. According to the BBC’s travel trends in 2026, “trust over choice,” meaning travel experiences where the guest doesn’t have to make any decisions, are clearly on the rise. Also trending is “ultra personalized over one-size-fits-all.”

This means every trip and every retreat has a theme that is appropriate and culturally relevant for their specific target market: predominantly women in their 40’s and 50’s. While 90-95% of Trink travelers are women, the company does not strictly exclude men, though they are always informed if they will be the sole male in a group of ladies.

A core challenge of the Trink model is maintaining group chemistry. Every group journey begins with a detailed registration process, and a written concept note to ensure travelers understand the nature of the trip — whether that involves an eco-lodge or a physical activity. Abou Youssef emphasizes that communication is key to managing expectations. Judging by their 30% repeat customer rate, the formula appears to be working.

Economic headwinds and AI

The EGP’s devaluation in 2022 hit the company hard. Rising costs — such as plane tickets jumping to EGP 30K from EGP 10K — and credit card restrictions on foreign currency made international bookings a logistical nightmare. Paradoxically, these restrictions also worked in Trink’s favor. When individuals found it impossible to book their own flights or hotels online, they once again turned to travel companies to handle the logistics.

Looking toward the future, Abou Youssef is unbothered by the rise of AI in travel. While she acknowledges that “agentic AI” will eventually replace the transactional side of travel agencies (bookings, visas, and transfers), she believes it can never replace the human element of group experiences. “The more AI is doing stuff for us, the more people crave connection,” she notes.

What does growth look like?

Trink Global currently manages 12-18 trips per year to places like Bali, Vietnam, and Salalah in Oman, three popular destinations they have on repeat. Group trips and wellness retreats are also offered to destinations like South Africa, Tanzania, Zanzibar, Vietnam, Cambodia, Mexico and India to name a few.

The business plans to expand to include first-time destinations like Kenya and Peru in 2026. “We typically try to introduce a couple of new destinations each year. In 2025 we added Uzbekistan and Japan, which is trending so we’re going there again this year,” Abou Youssef says.

The long-term goal for Trink remains true to their name: Global. The founders hope to move beyond the Egyptian market to create a cosmopolitan community of travelers from diverse nationalities. They have already started tapping into the Saudi market by planning retreats with Saudi instructors who bring along their clientele.

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Ears to the Ground

Thinking about socialism? Start with this podcast

👂When all comes tumbling down, fingers usually point towards capitalism. The socio-economic system that has run our world for centuries now has borne the brunt of many overconsumption and economic-blunder jokes, but is also the cause of many very real crises we’re facing today. Host Vivek Chibber sits at the helm of Jacobin’s newest podcast Confronting Capitalism, seeking to help listeners understand capitalism at its core and become better equipped with effective socialist politics.

You can’t change a system you don’t understand. The podcast gives you the conceptual framework and historical context behind how capitalism functions around the globe, discussing policies, history, political economy, and strategy. With a system as ever-present and deeply entrenched as capitalism, it feels essential to have a tight grasp on how it’s running our world, especially in its more covert ways.

In several episodes, social democracy takes the spotlight as Chibber and co-host Melissa Naschek unpack its origins and precedence in different regions and eras. When capitalism was strongly associated with fascism, particularly Nazism, the social democrats pushed to reform the system and keep the interests of the people at the forefront — even as more radical groups wanted to overthrow it altogether. The ultimate product of the phenomenon was the modern welfare state which Chibber describes as the “gift given by social democracy to the laboring party.”

Beyond ideological breakdowns, the podcast also hosts special analysis episodes on major events making headlines. From the coup in Venezuela, the conflict in Iran, and Trump’s waning popular appeal, Chibber takes a more theory-heavy and wide-angled lens to discuss current events. Tune into a couple of episodes and this podcast might just be your gateway to the world of leftist thought.

WHERE TO LISTEN- You can tune in on Apple Podcasts | Amazon Music | Podbean | Podtail | Spotify | Substack.

This publication is proudly sponsored by

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Sports

All quiet on the football front

It’s a quiet day on the fields, with only one fixture on our radar. Everton and Leeds United are set to go head-to-head as part of the English Premier League’s matchweek 23 face-offs. The match kicks off at 10pm and will be broadcast on BeIN Sports 1.

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Mark Your Calendar

Eyad Nassar takes the spotlight with Mahmoud Saad

🗣Our very own Inside the Actors Studio? Witness a one-of-a-kind interview this Wednesday, 28 January when superstar actor Eyad Nassar joins renowned TV anchor Mahmoud Saad on stage at AUC’s Falaki theater. Attendees will have the chance to partake in a live open dialogue with the actor. You can get your tickets on Tazkarti.

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GO WITH THE FLOW

What the markets are doing on 26 January 2026

The EGX30 rose 1.4% at today’s close on turnover of EGP 7.2 bn (29.5% above the 90-day average). Local investors were the sole net sellers. The index is up 13.6% YTD.

In the green: Fawry (+7.1%), Raya Holding (+6.3%), and GB Corp (+5.3%).

In the red: Beltone Holding (-2.2%), Sidpec (-2.2%), and Palm Hills Developments (-1.6%).


🗓️ JANUARY

22 January – 3 February (Thursday-Tuesday): Cairo International Book Fair.

23-26 January (Friday-Monday): Art Cairo at the Grand Egyptian Museum.

26 January (Monday): Alaa El Sheikh X Boom Room at Open Air Mall, Madinaty.

28 January (Wednesday): Eyad Nassar Interview with Mahmoud Saad at AUC’s Falaki theater.

29 January (Thursday): Official holiday in observance of the 25 January Revolution and Police Day.

29 January (Thursday): Tommyy at Theatro Arkan.

30 January (Friday): Cairo Marathon normal registration ends.

30-31 January (Friday-Saturday): Darb 15 Garage Sale in Maadi.

31 January (Saturday): Eyad El Mogy: El Sabt El Momtaz – The Last Dance at Hilton Cairo Grand Nile.

FEBRUARY

6 December – 15 February (Saturday-Sunday): Cairo Prints at Cairopolitan in Garden City.

6 February (Friday): Cairo Marathon at Heliopolis, Merryland Park.

7 February (Saturday): Cairo Flea Market at Ghurnata Community Space, Heliopolis.

11-15 February (Wednesday-Sunday): Animatex at AUC Tahrir Square.

13 February (Friday): Bryan Adams at the GEM.

17 February (Tuesday): First day of Ramadan (TBD).

MARCH

20 March (Friday): Eid Al-Fitr (TBD).

APRIL

2 April (Thursday): Hany Shaker at Theatro Arkan.

13 April (Monday): Sham El Nessim.

25 April (Saturday): Sinai Liberation Day.

MAY

1 May (Friday): Labor Day.

26 May (Tuesday): Arafat’s Day.

JUNE

16 June (Tuesday): Islamic New Year.

30 June (Tuesday): June 30th Revolution.

JULY

23 July (Thursday): July 23rd Revolution 1952.

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