Egypt's tourism on the up, says report

A new report from the United Nations' World Tourism Organisation could be good news for anyone considering investing in property in Egypt.

It has been revealed that tourist levels in Egypt increased by 20 per cent during 2007, which has increased demand for property, reports Homes Overseas.

Speaking on behalf of La Siesta Tourism and Real Estate Services, Marion Isom explained: "This is excellent news for the buy-to-let market.

"Tourism figures always have an effect on the property market of a region and this rapid growth in interest in this amazing country is a welcome step forward."

Property seekers could also benefit from moves by the government to encourage financial input, resulting in tax incentives for foreign investment.

Meanwhile, those considering make the move from staying in hotels to resting in their own property may be interested in news surrounding the Grand Hyatt Hotel in Cairo.

It has been reported by the BBC that the owner, Sheikh Abdulaziz al-Brahim, has banned the sale of alcohol on the premises.

 

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