Egyptian tourism set to boost rental demand

Rental accommodation in Egypt is set to be in strong demand this summer, it has emerged.

According to TUI Travel, the north African country is proving to be one of the most popular destinations for British holidaymakers this year.

The firm added that people's appetite for travelling abroad has not been negatively affected by the recent problems in the global economy, such as the credit crunch and increases in the cost of living.

Peter Long, chief executive of TUI, said trading conditions are "buoyant" and that sales are up on last year.

This suggests that some owners of rental accommodation in Egypt could be set to see increased demand for their services over the summer.

Mr Long commented: "We see no evidence of deteriorating consumer sentiment in our booking patterns, in the average holiday duration booked, average selling price or cancellation rates."

This comes after Cheapflights.co.uk revealed that consumer interest in the Egyptian resort of Sharm El Sheikh is currently 50 per cent higher than it was 12 months ago.