Like many of the nations on the continent of Africa, tourism can add much needed income and help keep an economy afloat. Algeria has received a considerable amount of attention, and resources from the UNWTO and while it has experienced somewhat good results over the last few years, it seems as though everyone is looking at Algeria to make the next step, property investors included.
The UNWTO in particular has supported Algeria's tourism industry because of its significant contribution to the nation's socio-economic well-being and development. In a speech delivered by Francesco Frangialli, the Secretary-General of the UNWTO, at the First National and International Tourism Conference which took place in Algeria's capital, he expressed his support for the Algerian tourism industry, and his positive outlook on its future.
In light of the two car bombings which occurred last December in the capital city, Mr. Frangialli paid his respects to the 17 UN workers and other bystanders who were killed.
On the heels of the positive statements coming out of the UNWTO, Angola's oil minister, Desiderio Costa expressed a wish to renew co-operation with Algeria in several industries including hotels, tourism, agriculture, commerce, fisheries, transports and oil.
The support of the UNWTO coupled with a possible rekindling of the partnership with Angola could feasibly bring attention to Algeria’s real estate market. As the tourism continues to grow, combined with economic stability and growth provided by the partnership with Angola, the door will be opened for foreign investment firms looking to put there money somewhere that is relatively unknown as far as being a hot market.
Also on Algeria’s side is the general prosperity that has been spreading across all of the north of Africa, stretching from the west coast of Morocco to the east, in Egypt. With so many investors disregarding anything available in the United States and Europe, they may eventually find their way to the opportunities available in Algeria.
