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Owners of rental accommodation in Egypt could be set for a lucrative summer, new figures suggest.

Research by Cheapflights.co.uk shows that interest in the resort of Sharm El Sheikh is currently 50 per cent higher than it was 12 months ago.

The current weakness of the pound against the euro has been cited as one of the main reasons for this increase, as it has made many European countries expensive places to visit.

By contrast, exchange rates with Egypt are much more favourable, which means holidaymakers are able to get more for their money if they travel further afield.

Francesca Ecsery, general manager of Cheapflights.co.uk, commented: "The 50 per cent increase in interest shows that value for money is a key consideration for UK consumers."

The findings also mean that tourist accommodation in Egypt is likely to be in very high demand during the peak holiday season.

This comes after currency specialist Travelex stated that leisure travellers are becoming "increasingly savvy" with regards to financial fluctuations and taking them into account when booking trips abroad.