Egypt Tourism Still Thriving Despite the European Debt Crisis

Although Egypt does border the Mediterranean Sea, Ministers are still confident that the debt problems which has affected other close European tourism places like as Greece has not negatively effected the Egyptian economy.

Talking to Reuters, Egypt’s Tourism Minister, Zoheir Garrana, stated that tourism revenues rose by 17.6% to $5.58 billion in the first 6 months of 2010 with the target of reaching £13 billion by fiscal year end.

Commenting on these latest figures, Steven Worboys, MD of the Egypt property experts Experience International, stated …

“The previous year12 months/sdpin have indeed been a more difficult time for Europe. The effect of the global financial downturn has been felt in a lot of countries including Spain, Portugal, Italy and Greece whose economies rely heavily on tourism.

“Holidaymakers are now focused on finding the best value deals available, often considering further afield than usual to non euro zone countries such as Egypt where can get more for their money. It’s certainly encouraging to see that tourism is increasing in that the sector is contributing 11% of GDP equivalent to 1 in every 8 jobs according to Ministry figures.”

Visitor numbers to Egypt continue to grow with in excess of 7 million visitorstourists/spin to date in 2010 and 15 millions expected in total by December. The majority of tourists originate from Britain, Italy, Russia, France and germany with the Russia showing a 95% increase in the first 3 months of 2010.

Such sustained growth is fuelling more demand for gppd accommodation in prime tourism hotspots across Egypt. Rich in history, culture and natural attractions, Egypt offers an excellent range of attractions with the Red Sea coast especially popular with individuals, couples and families alike.

So it’s easy to see why property in Egypt is an excellent investment returningdelivering/spin great financial returns in terms of capital appreciation and rental revenue.

Established Sharm el Sheikh property likesuch as/spin the new Monna Sharm development remain affordablewith entry levels from as little as £23,400 for a studio apartment with swimming pool views and communal roof terrace whilst freehold properties like the studio, 1 and 2 bed apartments at Royal Beach can be purchased in the up and coming resort of Hurghada at great value prices.

For more information about buying property in Egypt then contact the experts at Experience International on + 44 (0) 207 321 5858 or go to Experience-International.com.