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To claim that the pyramids – the first wonder of the ancient world – aren’t still a massive draw, you’d have to be in De-Nile (Copywriting 101: when writing about Egypt, it’s absolutely essential that you make a clumsy pun on ‘De-Nile’ or the Bangles’ hit ‘Walk like an Egyptian’), but many holidaymakers are preferring to look to the beach resorts on the Red Sea, Sinai and Mediterranean coasts.
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70% of the nine million visitors to Egypt in 2006 headed to these resorts. This is important information for those looking to purchase buy-to-let properties, as is the news that the Egyptian government has predicted tourist numbers will swell to 14 million by 2011. The percentage of those choosing to base themselves in beachside resorts is also set to rise.
Even so, with such a massive increase in visitors, the major cities also offer a good investment. Cairo will always be popular and Luxor, home to the Karnak Temple and the Valley of the Kings, is also a safe bet.
However, with the Egyptian government active and eager to encourage overseas venture, much of the investment is going towards attractions, infrastructure and tourism in the coastal areas and, as such, the smart investor’s money is following it. Many tourists are looking for diverse holidays – based near the sea but with day trips to gawp like an Egyptian (I thank you!) at the historical monuments – and Egypt is able to deliver that assortment with ease. Basically, the Pyramids will always be there, but there’s much more to the country too.
Maybe there’s hope for Britney, Branson and Beckham, after all!
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