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I went there on a vacation several years ago. There are a lot of people who speak at least some English and you are right, cash does rule. There are still many areas of the country that are very poor and very backwards as far as technical development goes, but places like Cairo are growing and modernizing quickly.
Their main source of income is still tourism and one thing I found interesting is that anyone that wants to can go to college for free as long as you have good enough grades to get into the school.
I recommend it to everyone. It is an awe inspiring place and while it may sound cliche it can be a life changing experience.
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