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Air Arabia Testifies To Egyptian Tourist Growth Potential

News Posted On: 23 March 2010

Sharjah-based low-cost carrier (LCC) Air Arabia is planning to start commercial operations from its third hub in Egypt by the end of next month, according to the firm’s chief executive.

"We're hoping commercial flights will start before the end of April," Air Arabia CEO Adel Ali told Arabian Business on Tuesday.

"Today, we're sending our first plane to Egypt, so the process is happening right now," he continued.

"Egyptian civil aviation personnel are here at the moment, and the plane is being registered in Abu Dhabi, together with a full maintenance check. It will then fly to Egypt for a few days of tests," added Ali.

This is further proof that Egypt is still one of the fastest growing tourism markets in the world, having suffered barely any negative effects from the recent international economic downturn -- no noticeable negative effects anyway.

This massive potential for growth makes Egypt property a unique prospect. Not the potential for tourism growth alone, but the fact that the young market started developing during a global property boom. Thus, the Egyptian property sector has developed hand-in-hand with the tourism sector. This presents unique opportunities for foreign investors.

Because of this, Egypt has become the land of hands-free investment; the properties that foreigners are able to invest in, are predominantly resort properties that will receive the management of the company behind the resort. Thanks to this, and the aforementioned tourism growth there are dozens of investment opportunities in Egypt with guaranteed rental yields upwards of 10%.

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