Editing Suez Canal (section)

== Economic impact ==
[[File:Suez Canal monthly revenue.webp|thumb|270px|Suez Canal monthly revenue in [[United States dollar|USD]]]]
[[File:porttrieste old.jpg|thumb|right|The old port of [[Trieste]], one of the economic hubs in the 19th century]]
Economically, after its completion, the Suez Canal benefited primarily the sea trading powers of the [[Mediterranean region|Mediterranean countries]], which now had much faster connections to the Near and Far East than the North and West European sea trading nations such as Great Britain or Germany.<ref name="auto"/><ref>Hans Reis "Der Suezkanal – die wichtigste von Menschen geschaffene Wasserstrasse wurde vor 150 Jahren gebaut und war oft umkämpft" In: Neue Zürcher Zeitung 17 November 2019</ref> The main Habsburg trading port of [[Trieste]] with its direct connections to [[Central Europe]] experienced a meteoric rise at that time.<ref>{{cite web |url=https://www.srf.ch/news/international/bauwerk-der-superlative-wie-der-suezkanal-in-150-jahren-die-welt-veraendert-hat |title=Wie der Suezkanal in 150 Jahren die Welt verändert hat (German: How the Suez Canal changed the world in 150 years) |date=16 November 2019 |access-date=9 January 2021 |archive-date=11 January 2021 |archive-url=https://web.archive.org/web/20210111132735/https://www.srf.ch/news/international/bauwerk-der-superlative-wie-der-suezkanal-in-150-jahren-die-welt-veraendert-hat |url-status=live }}</ref><ref>Gabriella Pultrone "Trieste: New Challenges and Opportunities in the Relational Dynamics between City and Port" In: Méditerranée, 111|2008 pp. 129.</ref>

The time saved in the 19th century for an assumed steamship trip to Bombay from Brindisi and Trieste was 37 days, from Genoa 32, from Marseille 31, from Bordeaux, Liverpool, London, Amsterdam and Hamburg 24 days. At that time, it was also necessary to consider whether the goods to be transported could bear the costly canal tariff. This led to a rapid growth of Mediterranean ports with their land routes to [[Central Europe|Central]] and [[Eastern Europe]]. According to today's information from the shipping companies, the route from Singapore to Rotterdam through the Suez Canal will be shortened by {{convert|6000|km}} and thus by nine days compared to the route around Africa. As a result, liner services between Asia and Europe save 44 per cent CO<sub>2</sub> ([[carbon dioxide]]) thanks to this shorter route. The Suez Canal has a correspondingly important role in the connection between [[East Africa]] and the [[Mediterranean region]].<ref name="Wilt 2019">Harry de Wilt: Is One Belt, One Road a China crisis for North Sea main ports? in World Cargo News, 17. December 2019.</ref><ref>Alexandra Endres: Schifffahrt ist fürs Klima genau so schlimm wie Kohle in Die Zeit, 9. December 2019.</ref><ref>Harry G. Broadman "Afrika´s Silk Road" (2007), p. 59.</ref>

In the 20th century, trade through the Suez Canal came to a standstill several times, due to the two world wars and the Suez Canal crisis. Many trade flows were also shifted away from the Mediterranean ports towards Northern European terminals, such as Hamburg and Rotterdam. Only after the end of the [[Cold War]], the growth in European economic integration, the consideration of CO<sub>2</sub> emission and the [[Belt and Road Initiative|Chinese Silk Road Initiative]], are Mediterranean ports such as [[Piraeus]] and [[Trieste]] again at the focus of growth and investment.<ref name="Wilt 2019"/><ref>Marcus Hernig: Die Renaissance der Seidenstraße (2018), p. 112.</ref><ref>Tobias Piller "Italien als Teil von Chinas neuer Seidenstraße" In: Frankfurter Allgemeine Zeitung 15 March 2019.</ref><ref>{{cite web |url=https://www.dw.com/en/dw-documentary-examines-chinas-grip-on-europe/a-55847002 |title=DW documentary examines China's grip on Europe |website=[[Deutsche Welle]] |date=12 August 2020 |access-date=11 January 2021 |archive-date=5 January 2021 |archive-url=https://web.archive.org/web/20210105023253/https://www.dw.com/en/dw-documentary-examines-chinas-grip-on-europe/a-55847002 |url-status=live }}</ref><ref>{{cite web| url = https://www.merkur.de/wirtschaft/neue-seidenstrasse-china-beteiligte-laender-verlauf-deutschland-kritik-90466338.html| title = New Silk Road: Everything that belongs to the mega project (German)| date = 12 December 2022}}</ref>

The Suez Canal set a new record with annual revenue of $9.4 billion in [[USD]] for the [[fiscal year]] that ended 30 June 2023.<ref>{{Cite news |date=21 June 2023 |title=Suez Canal annual revenue hits record $9.4 billion, chairman says |language=en |work=Reuters |url=https://www.reuters.com/world/africa/suez-canal-annual-revenue-hits-record-94-bln-chairman-2023-06-21/ |access-date=15 August 2023}}</ref> Attacks by [[Houthis|Houthi]] rebels on shipping vessels off the coast of Yemen caused monthly losses of $800 million, according to Egypt's [[Abdel Fattah el-Sisi|President Sisi]].<ref>{{Cite web |title=Egypt losing $800 mln monthly in Suez Canal revenues due to regional tensions: El-Sisi at Armed Forces annual Iftar - Politics - Egypt |url=https://english.ahram.org.eg/NewsContentP/1/543156/Egypt/Egypt-losing--mln-monthly-in-Suez-Canal-revenues-d.aspx |access-date=2025-03-18 |website=Ahram Online}}</ref>