UK tourists flock to Egypt

Overseas property investors could find themselves in line to benefit from growth in the Egyptian rental market.

According to Co-operative Travel, the north African country is becoming more and more popular with holidaymakers from the UK.

The organisation said this is partly because it offers much better value for money than many European nations, as exchange rates are more favourable.

As a result, people who visit Egypt will be able to get more for their money during their trip.

Co-operative Travel stated that Sharm El Sheikh is proving to be especially popular, as it is one of the top ten tourism hotspots for 2007.

The group added that the number of bookings for the Egyptian resort is 38 per cent up on last year.

This comes after Paul Collins of the BuyAssociation website revealed that the amount of interest in tourist property in Egypt is increasing all the time, particularly in areas such as Sharm El Sheikh.