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Egyptian rental market boosted by Britons

Investors who have bought a rental property in Egypt could be set to collect strong returns this summer.

According to the Association of British Travel Agents (ABTA), a growing number of holidaymakers from the UK are choosing to visit the African nation.

Indeed, figures show that the amount of bookings for this year is nearly a third up on the amount recorded in 2007.

Mark Tanzer, ABTA's chief executive, believes this is partly because the strong euro has hiked up the cost of holidaying in the eurozone.

He commented: "With the strong euro, greater growth is being experienced in the mid to long-haul destinations."

This will be a positive development for those with an investment property in Egypt, as growing tourism can be directly lead to higher rental returns.

Earlier this week, analysts at Amberlamb described the tourist trade as the foundation of Egypt's "fledgling" real estate market.

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