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EGYPT - AN AFFORDABLE DESTINATION IN HARSH ECONOMIC TIMES

Thursday, 30 Oct 2008

Seaside accommodation in Egypt offers refuge during the current global economic storm.
The country’s geographical location and inexpensive realty, offering entry level opportunities, make it a lucrative investment within a developing property sector.

According to the World Travel and Tourism Council (WTTC), Egypt experienced an influx of tourists last year and predicts numbers to increase this year by 5.5%. Leaders in developing property sectors, Experience International, noted a substantial growth in investment thanks to the country’s sound fiscal position, established government structure and unwavering currency. Representative for the company, Steve Worboys, reported on the growing number of investors who realise the multiple benefits of purchasing property in Egypt.

Egypt has benefited greatly from the influx of visitors triggering a boom within its tourism industry. Employment figures within the industry are subsequently set to rise over the next few years. The number of visitors to the country has exceeded the local tourism bodies’ expectations and the trend is expected to continue with an estimated fourteen million holiday-makers entering the country by the end of the year. Egypt’s policies and prospects make it an attractive investment option and Worboys anticipates a growing number of investors wanting to purchase property in Egypt.

Egypt’s warm winters make it a popular holiday choice throughout the year. Water-front properties in Egypt offer world class golf and year round water sports in picturesque surroundings. Shareholder of one of the resorts, Andy Parkin, agrees that purchasing property in Egypt provides a lucrative alternative while the United Kingdom faces an economic meltdown. He was inspired after a visit to Egypt to investigate the possibilities the country offered as a developing nation and was impressed by government’s internal policies of developing the tourism and realty sectors. Parkin remarked, “I look forward to using the property myself as well as reaping the rewards in making such an investment.”