Mclaren - Property Abroad

Most people who think of Egypt think of antiquities, but Egypt offers much more.

Certainly it is a prime location to see our great heritage from the ancient world, including Pyramids and wonderful temples, but it is also part of the Holy Land, and tours to Christian and other religious monuments are popular.

Yet Egypt also offers nature and desert treks, great scuba diving and even golf, fishing and birding expeditions. One may choose to relax on the wondrous Egypt Red Sea or Sinai coasts, take in the high culture of Cairo, or even leisurely float down the Egyptian Nile on a luxurious river boat.

Egypt is bordered to the north by the Mediterranean, to the south by Sudan, to the west by Libya, and to the east by the Red Sea and Israel. The River Nile divides the country unevenly in two, while the Suez Canal provides a third division with the Sinai Peninsula. Beyond the highly cultivated Nile Valley and Delta, a lush green tadpole of land that holds more than 90 per cent of the population, the landscape is mainly flat desert, devoid of vegetation apart from the few oases that have persisted in the once fertile depressions of the Western Desert. Narrow strips are inhabited on the Mediterranean coast and on the African Red Sea coast. The coast south of Suez has fine beaches and the coral reefs just offshore attract many divers. The High Dam at Aswan now controls the annual floods that once put much of the Nile Valley under water; it also provides electricity.

Islam is the dominant influence and many traditional customs and beliefs are tied up with religion. The people are generally courteous and hospitable and expect similar respect from visitors, shaking hands will suffice as a greeting.

Because Egypt is a Muslim country, dress should be conservative and women should not wear revealing clothes, particularly when in religious buildings and in towns (although the Western style of dress is accepted in modern nightclubs, restaurants, hotels and bars in Cairo, Alexandria and other tourist destinations).

Official or social functions and smart restaurants usually require more formal wear. Smoking is very common. Photography: Tourists will have to pay a fee to take photographs inside pyramids, tombs and museums.

On taking power in 1952, President Nasser quickly instituted a Soviet-style command economy that was closed to Western investment. After Nasser’s death, his successor, Anwar Sadat, gradually dismantled the existing system in favour of a policy of infitah (openness) towards investment. Egypt’s economy underwent rapid growth during the 1970s with the swift expansion of the oil industry, tourism and the Suez Canal.

During the 1990s, stern fiscal policies, agreed with the IMF and World Bank, and further market-oriented measures brought the Egyptian economy to its current condition. As of mid-2004, annual growth had fallen to 3 per cent, inflation was about 14 per cent, while official unemployment was 10 per cent (although there is considerable under-employment).

Egypt’s major industries are textiles, fertilisers, rubber products and cement. There are also steel production works and several vehicle assembly plants. The main crops are cotton, rice, wheat, sugar, maize and a range of fruit and vegetables. Expansion of the tourist sector has been briefly hampered by the terrorist activities of Islamic fundamentalists. Agriculture, which relies on irrigation from the Nile, employs one-third of the working population. Foreign aid, especially from the USA, is an important source of government funds.