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INCREASING TOURISM TO EGYPT CAUSING PROPERTY INVESTMENT BOOM

Friday, 15 Aug 2008

Egypt is currently experiencing a vast increase in tourism, according to the World Travel & Tourism Council (WTTC) and the World Tourism Organisation (WTO). This is the main factor in the surge in Egypt property investment and development. New tourist industries, in the form of travel and tour operators and airlines, are springing up to cope with the influx, and this is fuelling the growing trend of investors to buy property there.

Egypt is using real estate and tourism to expand its economy, and the burgeoning tourist industry is aiding in this endeavour. The growing demand for short-term rentals and holiday houses makes investing in Egypt property an attractive option. Another factor adding its weight to this trend is the increasing realisation that Egypt is one of the closest destinations to Europe and Britain that has a hot climate and year round sun, ideal for holiday homes and properties for retired people.

The United Nations World Tourism Organisation (WTO) has released a report showing that Egyptian tourism figures have risen by twenty percent from last year. In addition, tourism in Egypt is on track to grow by seven percent annually over the next ten years, and the tourism minister intends to draw fourteen million tourists to Egypt’s shores by 2011, thereby further increasing the need for Egypt accommodation.

Facilitating this amazing growth is the fact that Egypt has a plethora of attractions, such as its balmy climate, gorgeous white sand beaches, an amazing historical heritage and unique culture. This is contributing to the growing popularity of Egypt property as holiday homes and tourist rental accommodation investments.

All these factors contribute to the abundance of excellent reasons for the annual twenty-five percent capital growth currently being seen in many areas, as well as the double figure rental returns continuing as Egypt property becomes more and more attractive to investors.