In 1934, the Italians celebrated the 65th Birthday of King Victor Emmanuel III and the first non-stop flight from Rome to Mogadishu by issuing airmail semi-postal sets for several of its colonies in Africa. All of these air semi-postal sets were issued in similar quantities, including the Eritrean set (Scott #CB1-10), of which 15,000 were issued. Scott '12 prices the unused set at $29.25 ($70.00 for NH) .All of the better stamps from Italy's African colonies should do well over time, as they have potential dual markets among collectors of Italy and Colonies and the individual countries they became (or into which they were incorporated). Growth in Italy and Colonies collecting alone should be enough to sustain steady increases. Should stamp markets develop within the countries, all of which are emerging market nations, then the process will be accelerated.
Eritrea is a newly independent nation with a population of about 5.2 million. Like many other African nations, its economy is largely based on subsistence agriculture, with 80% of the population involved in farming and herding. Drought has often created trouble in the farming areas. The country is still recovering from the effects of a war with Ethiopia, which ended in 2000. It has substantial mineral deposits and oil reserves which are largely unexplored. Annual GDP growth has averaged 2.6% over the last five years.
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