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EGYPTIAN TOURIST TRADE ON THE RISE

Wednesday, 25 Jun 2008


Rental investors in popular African tourist destinations could be set to see increased demand this year.

Egyptian tourist trade on the rise The World Travel and Tourism Council (WTTC) has revealed that tourism across the continent has risen by 5.9 per cent in the last year.

This figure, which is above the worldwide average, suggests that Africa could present a number of investment opportunities.

Specifically, increased tourism is likely to drive up demand for rental accommodation in hotspots such as Morocco, Cape Verde and Egypt.

WTTC figures also showed that the impact of economic problems in the US was affecting the popularity of more established locations such as the Americas and Europe.

This could further reinforce Africa's potential as place in which to invest.

Jean-Claude Baumgarten, president of the WTTC, commented: "The continued strong expansion in emerging countries as an increasing source of international visitors means the industry's prospects remain bright."

This comes after Frances Tuke of the Association of British Travel Agents told BBC News that Egypt is likely to be a popular location among holidaymakers from the UK this year.

Researches conducted by ‘Cheapflights.co.uk’ have indicated a fifty percent increase in passengers choosing Egypt as their destination choice.

The current status of the British Pound against the European Euro is also a contributing factor to the increased interest in Egypt, as European countries are becoming increasingly regarded as expensive places to visit.

In comparison, the exchange rate against Egypt is far more favourable, ensuring holiday makers and investors capitalise on their well earned money, whilst curbing on their expenditure tremendously, as they continue travelling abroad.

These recent research findings clearly show that financial fluctuations and value for money is fast becoming a vital consideration for consumers to take into account when booking their trips abroad.

Egypt has remained a top destination choice for many varying reasons, apart from the fact that Egypt’s credibility as a nation, and its increasing success in the tourism market, can in large be attributed to the fiscal reforms the Egyptian government have committed themselves to, it is also a well known fact that Egypt has a wealth of culture and historical background, all inclusive in the superior experience that is Egypt.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.


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