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Currencies helping to shape tourism as holidaymakers opt for best value

Turkey, Egypt, Morocco and Florida are top of the holiday charts this summer, an analysis of various statistics show. For example, flight comparison website says that searches over the past two months for flights to Egypt's Red Sea resort of Sharm El Sheikh and to Tunisia are up by 50 per cent on last year.

The travel industry also reports that that traditional British hot spots such as Greece and Spain are being replaced by their more exotic counterparts Morocco, Egypt and Turkey where the pound offers greater value for money.

The weakness of the pound against the Euro has helped these destinations to take a more prominent position in the world of international property and to become property hotspots in their own right.

Other areas where the pound will buy more than last year include Argentina, Indonesia, Jamaica, Seychelles and South Africa.

However it seems Bulgaria takes some beating in terms of a bargain break. A survey by Teletext found Bulgaria is the cheapest destination in terms of the cost of food and accommodation, followed by Tunisia, Greece, Egypt and Turkey.

Morocco was singled out as good value for luxury breaks along with South Africa and India.

So do tourism patterns help when deciding where to invest in foreign property? Not according to Egyptian investment bank Prime Group, which is claiming there will be 33,000 spare units in 2008 in Egypt.

But like currencies, it can be a useful indicator. 'While it would be foolish to manage your overseas property investments purely based on the movement of currencies and tourists alone, they do actually offer a useful insight into potential hotspots of the future,' said overseas expert, Chintan Mahida.