PROPERTY IN EGYPT A SAFE HARBOUR FROM GLOBAL FINANCIAL WOES
Thursday, 15 Jan 2009
While the rest of the world suffers in the throws of a global financial meltdown, property in Egypt, especially in the resorts along its Red Sea coast, is proving to be a safe haven from the economic woes of the rest of the world. Investors are afforded a low-cost entry point into the Egypt property market, and its proximity to Europe, as well as the many international flights now available, make it an extremely appealing emerging investment market.
According to the World Travel and Tourism Council (WTTC), there was a gradual increase in tourist numbers visiting Egypt during 2007, and a report released recently states that the tourism and travel industry in Egypt is predicted to show a growth last year of approximately 5.5 percent. Experience International, one of the top experts in the particulars of investing in emerging markets like Egypt property, has noticed a growing number of investors taking the plunge and investing in the country’s stable political system, vibrant economy and strong currency.
Experience International’s director, Steve Worboys, says, “Egypt is a modern state and as a country we have seen it grow as a tourist destination over many years due to its rich history and unique attractions such as the pyramids; now though people are increasingly seeing its potential as a place of investment for both remuneration purposes and the fact that it is a year round holiday destination.”
The growing number of tourists visiting property in Egypt has helped the country’s economy in its entirety, and the tourism and travel markets have started to see quick increases. A report from the WTTC states that it is expecting a rise in the number of people who find employment due to the expanding tourism industry and consequent market for Egypt accommodation with its accompanying job creation opportunities.
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