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The traditionally popular vacation destination of Egypt is going against the declining global tourism trend by recording a 29% increase in visitor arrivals and 24% increase in tourism revenue in the first quarter of this year, 2010.

In stark contrast to the overall state of the global tourist industry which is trying to recover from “one of the most difficult years” (2009, WTO) and currently experiencing another blow from the Icelandic volcano crisis, estimating to be setting back airlines up to $400 million each day (International Air Transport Association), Egypt looks like it is getting stronger and stronger.

However it is not the case that Egypt was totally unaffected by the economic downturn of the last 12 months but with 3.46 million visitors arriving from January and March 2010 generating a $2.7 billion revenue, Egypt “completely rebounded” according to Tourism Minister, Zoheir Garranah.

Tourism plays an increasingly important role in the Egyptian economy, which at the moment is growing at an impressive 5.1%, accounting for more than 12% of jobs 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 are still extremely popular but increasingly the Red Sea coast is drawing millions each year to its clear warm waters, white sandy beaches and year round sunshine.

Steven Worboys, MD of Egypt property experts Experience International, with over 5000 properties along the Red Sea, commented:

“Egypt is consistently one of the most sought-after vacation and 2nd home destinations in the world attracting over 1 millions people from the UK annually. The mix of easy, cheap and quick access from the UK, value for money property prices and good weather all year round has made Egypt and the Red Sea coast in particular almost irresistible.”

One particular property for sale in Egypt which is receiving increased interest not least due to its exclusive SIPP eligibility is the Samra Bay Marina & Spa Resort available through Experience International. Providing a true frontline location on the “Golden Mile” of Hurghada, these luxury studio and 1 bedroom apartments are available from as little as 59,300 Euros, offer a guaranteed return for a minimum of 8 years and are definitely worthy of consideration in 2010.

Predictions for the remainder of 2010 are positive with a minimum 5% economic growth expected and a target of increasing tourism revenue of $11.5 billion. Identifying the importance of investment the government also plans to increase spending by 11.2 billion Egyptian pounds ($2 billion) to support the economy, with the majority of the money going into infrastructure projects.

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.

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This entry was posted on Thursday, May 6th, 2010 at 12:52 am and is filed under Cruise Travel. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.