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Al Jazeera
Al Jazeera
Politics

How did Egypt and Israel’s economies do in a year of Houthi attacks?

Israel Egypt Osama Rabie the Suez Canal Michael Kurilla Suez The Red Sea
A Houthi fighter stands on the Galaxy Leader in the Red Sea after the cargo ship was seized on November 19, 2023 [Handout/Houthi military media via Reuters]

When Frenchman Ferdinand de Lesseps suggested connecting the Red and Mediterranean seas by building the Suez Canal, his idea was clear: a shorter shipping route from Asia to Europe and a source of income from transit fees.

The idea was welcomed by Egypt’s khedive, Ismail Pasha, and the Suez Canal opened in 1869. Since then, it has become one of the most important maritime routes in the world.

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