Egypt has made impressive economic progress over the last few years thanks in the main to the wide-ranging reforms that were first implemented in 2004. They now have the second largest
economy in the Arab world after Saudia Arabia.
The Ministry of Tourism reported that foreign tourists totalled around 12.8 million in 2008, up a strong 15% year-on-year. It is forecast that Egypt will receive over 17 million visitors per year by 2020. The Sinai peninsula is particularly popular with tourists from across Europe, the Middle East and the US and nowhere in the world are there coral walls and gardens more brilliantly abundant, waters more crystalline or underwater life more varied and plentiful.
For the past few years, Egypt’s property market has been very buoyant although it is still regarded as an emerging market with lower entry prices compared to European countries. High demand for buy-tolet proper ties, both for long term investment and holiday lets, in popular tourist areas such as Sharm El Sheikh and Hurghada will ensure there is a constant demand for rentals particularly with easy accessibility provided by direct flights.
In Egypt it is sunny all year round! It is situated in a sub-tropical region with a dry climate, hot summers and mild winters.
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