There are a number of positive indicators for purchasing property in the Egypt especially in the Red Sea area. Property Investors are attracted to value for money, low running costs, excellent transport links from the UK, superb climate, strong rental demand and high capital growth. The demand for holidays on the Red Sea show no sign of falling making Egypt’s property market set to thrive.
The Egyptian tourism industry is one of the most important sectors in the economy in terms of high employment and incoming foreign currency, and therefore figures prominently among the priorities of the Egyptian government. There were 3.1 million visitors in 1995, 6.4 million in 2003, and 8.5 million in 2005, so Egypt is definitely now the number one tourist destination in the Middle East and the East Mediterranean as far as the number of arrivals and tourist nights are concerned. Sharm El Sheikh, is the world’s 4th most popular tourist destination (after Cape Town, the Maldives and Dubai).
Since 2003, 31 tourist projects (particularly in South Sinai, Red Sea and Ein El Sokna) have been started at a cost of £1.7 billion. These projects also embrace infrastructure improvements in various sectors such as airports electricity, water and roads.
