articles | 27 December 2019

Cyprus in top four for attracting tourism investment

Cyprus ranks fourth among the countries with the best strategies for attracting tourist investment worldwide for the period 2019/2020, according to a survey conducted by fDi Intelligence International, Invest Cyprus said on Monday.

The survey took into account a number of parameters including Invest Cyprus’ strategy for attracting investment in tourism and hospitality.

The chairman of the Board of Invest Cyprus, Michalis Michael, welcomed the results of the survey, which, he said, were a justification of the agency’s efforts.

“We are particularly pleased with the results of the survey, which demonstrate that the ongoing efforts of the Cyprus Investment Promotion Agency are not only significant, but carried out on the basis of a strategy capable of comparing positively with other competing destinations,” he said.

Effective attraction of foreign investment in this sector, he said, is considered a prerequisite for the creation of the necessary infrastructure to support the implementation of the government’s objectives of attracting quality tourism.

Michael said that responding to the needs of the implementation of the National Tourism Strategy and the objectives set in attracting investment in tourism and hospitality the agency has set up a specialised unit within the Agency under the name ‘Tour Ιnvest Cyprus’.

“This unit is solely responsible for attracting investment in tourism and hospitality and serves as the first point of contact for foreign investors,” Michael said.

Source: Cyprus Mail

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