Egypt bucks global trend as 29% increase in tourism recorded
The traditionally popular holiday destination of Egypt is going against the declining global tourism trend by seeing a 29% increase in tourist arrivals and 24% increase in tourism revenue in Q1 2010.
In stark contrast to the overall state of the global tourist industry which is struggling to recover from “one of the most difficult years” (2009, WTO) and currently suffering another blow from the Icelandic volcano crisis, predicted 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.
However it is not the case that Egypt was totally unaffected by the economic slump of the last 12 months but with 3.46 million tourists arriving from January and March 2010 generating a revenue of $2.7 billion, the nation has “completely rebounded” according to Tourism Minister, Zoheir Garranah.
Tourism plays an increasingly important role in the Egyptian economy, currently growing at note worthy 5.1%, responsible for more than 12% of employment and contributing $10.76 billion in 2009 according to the Ministry of Tourism. The traditional historical and cultural attractions such as the Pyramids of Giza and Luxor remain highly popular but increasingly the Red Sea coast is drawing millions every year to its white sandy beaches and clear warm waters and year round sunshine.
Steven Worboys, MD of Egypt property experts Experience International, with over 5000 properties along the Red Sea, commented:
“Egypt remains one of the most sought-after holiday and second home destinations in the world with over 1 millions Britons visiting annually. The combination of easy, cheap and direct access from the UK, value for money property prices and good weather all year round has ensured that 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 marketed through Experience International. Providing a true frontline location on the “Golden Mile” of Hurghada, these luxurious studio and 1 bedroom apartments are available from only 59,300 Euros, provide a guaranteed return for a minimum of 8 years and are certainly worthy of consideration in 2010.
Forecasts for the rest of 2010 are positive with 5% economic growth expected and a target of increasing tourism receipts to $11.5 billion. Acknowledging the importance of investment 
For additional information about investing in the booming tourism hotspot of Egypt contact the experts at Experience International on + 44 (0) 207 321 5858 or visit experience-international.com.
Filed Under: Economic News • News • property investment • Property news • tourist property
