EGYPTIAN TOURISM FIGURE IMPRESSES INTERNATIONAL INVESTORS

Egypt’s Minister of Tourism Mounir Abdel Fakhry Nour has revealed this week that 5.4 million tourists have travelled to Egypt in the first half of 2012.

The news has spread optimism across the country and added to the excitement of Egypt’s newly elected president Mohamed Mursi. The election result saw Egyptian shares increase over seven percent, pleasing investors.

There are positive indicators that the tourism figure will keep on increasing after confidence has risen due to the smooth transitional phase to select a new president for Egypt.

Abdul Nour believes the optimism from the presidential elections is expected to lead to higher tourism rates, “Tourists visited Egypt during the first five months of the current year at a rate 29 percent higher than the same period in 2011. The sector is moving forwards to full recovery.”

The Egyptian Tourism Authority revealed an increase in visitors from Western Europe including the UK, Germany and Spain. According to the Minister of Tourism, the growing numbers of tourists are heading to Red Sea resorts in Hurghada and Sharm el-Sheikh.

The news has caught the eyes of international investors, who are keen to take advantage of Egypt’s reasonably priced property sector before prices start to rise now the elections are over and business resumes back to normal.

Egypt’s new government has emphasised that the tourism sector is one of their main priorities and is an important part of Egypt’s economy that must progress forwards. The new tourism figure for the first half of 2012 has proven the country is on track to have a successful tourism sector.

 

Source: The Daily News Egypt