http://www.memphistours.net/Egypt-Guide/Red-Sea/Dahab-and-Nabq.php

Dahab is a small Bedouin town, located approximately 100 km to the north of Sharm el-Sheikh’s luxurious tourist resorts. Dahab, which means “Gold” in Arabic, is named for the town’s beautiful beaches, and the atmosphere here is relaxed and peaceful. Popular with backpackersbecause of its affordable prices, the area also boasts some unique diving sites, making it a tranquil paradise for peace loving souls to relax and explore.
The Dahab area is protected and resource managed to ensure that the rich natural environment remains unspoiled.
As with many other areas of the Red Sea and Sinai coast of Egypt, Dahab has some famous dive sites and snorkelling opportunities. The famous Blue Hole, literally a deep hole in the coral reef, is located around 30 minutes from Dahab by jeep, and is suitable for more experienced divers. Around 150m wide, and up to 110m deep, the Blue Hole is one of nature’s oddities, and is in fact a sort of cave or pothole, giving it the appearance of an eerie gap in the coral reefs which surround it.

Wonderful but also very wild place. Lots of charming restaurants along the shore of the sea in the centre of the city. If u`re good at bargain, u can spend there an unforgettable evening. Eating fresh sea food, listening to music and enjoying the exotic atmosphere of the place.