Egypt has enjoyed a tourism increase of 32 percent in the first quarter of 2012 showing signs that the country has bounced back from the revolution in 2011.
The positive news has followed another great report from The Telegraph newspaper, which has recently revealed Egypt is leading the global markets in 2012.
Tourism in the country is expected to rise despite the eurozone crisis and with foreign investment across all sectors hitting $15.9 billion last year, 2012 is expected to see Turkey’s investment figure rise even further.
Altinkum and Akbuk have been named as popular areas to buy a property by experts in the industry and it is considered now is the time to buy before prices increase throughout the year.
News agency The Daily News Egypt has reported the spotlight is back on Egypt’s real estate sector now that property prices are stabilising and developers are recovering from disruptions last year.
The Daily Telegraph reported last year that most buyers want to use their overseas property themselves as a holiday home, for inheritance purposes, or for retirement reasons.
News agency Reuters has revealed this week that investors see Africa as the most attractive place to invest over the next ten years. According to the report, one in three are expected to put at least five percent of their portfolios into Africa by 2016.
Foreign investment is set to rise significantly in Egypt this year according to the report and international consumption is likely to pick up when the country’s political situation becomes clearer.
The country has seen a boost in property investors and it has been predicted that Turkey is on track to have a thriving tourism industry over the next few years.
Once the elections are over and disputes in Cairo settle, property prices in Egypt are expected to rise again. Property experts have highlighted that if an individual is thinking of buying a property in Egypt, now is the best time to buy.
Tourism figures next year are expected to grow, especially now Turkey has had a successful year despite problems across the Euro Zone.
The Egyptian Minister of Tourism Mounir Fakhry Abdel-Nour has announced tourists have brought in $9.5 billion in revenue this year and the festive season is expected to bring more tourists who want to celebrate Christmas and New Year in a warmer climate.
Investors are looking at the long term rather than short term in Egypt and are seeing a great opportunity to invest in a country that will soon have a strong and stable economy.
Property investors are pleased hotels are back to being full like they were before the revolution and are confident Egypt has a bright future.
Tourists are interested in seeing the effects of the revolution and tour companies are now incorporating the recent events into their schedules.
The Al Futtaim Group owns the rights to Marks and Spencer in the Middle East and the store is expected to generate substantial sales and be a huge success.
Italcementi Group is to introduce a new wind energy project in the Red Sea area and is expected to invest 140 million euros into the venture.
Turkey’s economy has increased more than four times the Euro zone’s growth, which is why investors now want to buy property in Turkey.
The new law will create a $10 billion real estate market that will see buyers from Saudi Arabia, Dubai and Qatar enter the Turkish property market.
The increase of interest is set to encourage other investors, particularly property buyers who are recognising Egypt as a good place to invest in properties.
CIVETS is a fund that invests in Columbia, Indonesia, Vietnam, Egypt, Turkey and South Africa. The countries have been predicted to have the best economies and are the favourite places to invest.