INVESTORS ASSURED AS TOURIST NUMBERS IN EGYPT GROWS BY 12 %
The Central Agency for Public Mobilisation and Statistics (CAPMAS) has reported this week that the number of tourists visiting Egypt in February 2013 has increased by 12 percent compared to February 2012.
The agency also revealed that a total of 845,000 tourists visited Egypt in February 2013, which is an increase on the 753,000 tourists visiting Egypt in the same month last year.
The average length of tourist stays for February 2013 has also shown positive results, rising to 14.8 nights compared to 8.3 nights in same period last year. The average length of tourist stays in February 2010 was only 9.7 nights, showing tourists are now choosing to stay longer when visiting Egypt.
The news has followed a positive 2012 in Egypt. The country witnessed a 17 percent increase in tourist numbers and a 13 percent rise in tourism revenues. It has certainly attracted more investors to Egypt, particularly in tourist hotspots such as Hurghada and Sahl Hasheesh.
The Tourism Ministry has unofficially stated there has been a 22 percent rise in tourist numbers as of March 2013. This puts the average growth of tourist numbers for the first quarter of 2013 at approximately 15 percent.
Egypt recently took part in the China Outbound Travel and Tourism Market (COTTM) in Beijing to attract more Chinese tourists to the country. The World Tourism Organisation (WTO) ranked China in third position in the top international tourism spenders. It’sestimated that the overall number of outbound tourists from China will reach 100 million by 2020.
Given the optimistic figures for the Egyptian tourism sector and their aspirations to tap into the fast-growing Chinese outbound tourism market, it is believed by many analysts that now is an ideal time to invest in real estate in Egypt.
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Source: Daily Egypt News, Cottm.com