The study focuses on evaluating the economic, logistical, and environmental aspects of hydrogen production, particularly in Egypt and its comparative potential in the global hydrogen market. It highlights the importance of transitioning to renewable energy for achieving global net zero emissions, with hydrogen playing a crucial role due to its advantages in long-term storage and transportability. The article discusses the challenges related to the economic feasibility of hydrogen production, especially in off-grid settings, emphasizing the significant influence of Levelized Cost of Hydrogen (LCOH) variations based on renewable energy sources and geographic locations. The need for a more nuanced financial analysis that considers regional economic conditions and investment risks is stressed to accurately assess the cost-competitiveness of hydrogen production projects. Transport costs, combined with financial parameters like imputed interest rate and Weighted Average Cost of Capital (WACC), are identified as critical factors impacting the overall cost of delivering hydrogen to end-users. The article calls for robust policy frameworks, international collaborations, and systematic approaches to incentivize investment, streamline regulatory processes, and foster hydrogen production and trade. It also emphasizes the complexity of comparing hydrogen production sites and scaling options for electrolyser plants, influenced by technical, economic factors, and energy market volatility. A comprehensive evaluation framework is deemed essential for making informed decisions regarding hydrogen production and its economic feasibility across different locations.