An international study claims that Cyprus needs to become a prime destination so that it could haul in over six million tourists every year and swell its annual income from foreign visitors to a whopping €7b.
The report was conducted by Spanish company THR-Innovative Advisors after they were commissioned by the Cyprus Presidency Unit for Administrative Reform.
The exact details of the findings are expected to be presented next month during which the researchers will unveil their vision for Cyprus’ tourism sector over the next 14 years and what could be done to implement a successful strategy plan.
The study will also reveal findings from the THR-Innovative Advisors that claim that the island’s tourism sector has become stagnant in the last few year adding that Cyprus depends too heavily of arrivals from Russia.
The group effectivelyenvisions Cyprus as a ‘premium destination’ (tourists spending above the average global expenditure of foreign visitors). It is towards ‘big spending’ tourists that Cyprus needs to focus on and, for this reason, state expenditure on the tourism sector will need to increase by 15% as well as private investment to the tune of €20 billion over the next 14 years.
A survey that had been conducted on tourists in Cyprus showed that the plus side to the island was the favourable climate, security and the hospitality. The weak points were the seasonality, low quality services and lack of branding.