Real Estate Investing Facts

The popular holiday destination of Egypt is going against the declining global tourism trend by seeing a 29% increase in visitor arrivals and 24% increase in tourism revenue in Q1 2010. 

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In stark contrast to the condition of the global tourism industry which is trying to bounce back from

“one of the most difficult years” (2009, WTO) and currently experiencing another blow from the Icelandic volcano crisis, estimating to be setting back airlines up to $400 million per day (International Air Transport Association), Egypt looks like it is going from strength to strength.

It cannot be said that Egypt was totally unaffected by the economic downturn of the last 12 months but with 3.46 million visitors arriving between January and March 2010 generating a revenue of $2.7 billion, Egypt “completely rebounded” according to Tourism Minister, Zoheir Garranah.

Tourism plays an very important part in the Egyptian economy, currently growing at an impressive 5.1%, responsible for more than 12% of employment and generating $10.76 billion in 2009 according to the Tourism Ministry. The traditional historical and cultural attractions such as the Pyramids of Giza and Luxor remain highly popular but also getting very popular the Red Sea coast is drawing millions each year to its clear warm waters, white sandy beaches and year round sunshine.

Steven Worboys, MD of Egypt property experts Experience International, whom market over 5000 properties along the Red Sea, commented:

“Egypt remains one of the most popular vacation and 2^nd home destinations in the world with over 1 millions Britons visiting annually. The combination of easy, cheap and direct access from the UK, affordable property prices and a reliable climate has made Egypt and the Red Sea coast in particular almost irresistible.”

One particular property for sale in Egypt which is seeing increased interest also thanks to its exclusive SIPP eligibility is the Samra Bay Marina & Spa Resort available through Experience International. Providing a true front line location on the “Golden Mile” of Hurghada, these luxury studio and 1 bedroom apartments are available from as little as 59,300 Euros, offer a guaranteed income for a minimum of 8 years and are certainly worth further consideration.

Forecasts for the rest of 2010 are positive with 5% economic growth expected and a target of increasing tourism revenue of $11.5 billion. Identifying the importance of investment the government also plans to increase spending by 11.2 billion Egyptian pounds ($2 billion) to support the economy, with most of the funds going into infrastructure projects.

For more information about buying in the thriving tourism hot spot of Egypt contact the experts at Experience International on + 44 (0) 207 321 5858 or visit experience-international.com.

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Tags: Egypt property, property for sale in Egypt