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articles | 29 February 2020 | ServPRO Accountants & Consultants

“Tour Invest Cyprus” to attract 5 million tourists by 2030

Invest Cyprus is an organisation tasked with attracting foreign direct investment. It has recently created a special unit, “Tour Invest Cyprus” to help the National Tourist Strategy reach the goal of attracting 5 million tourists by the year 2030.

Michalis Michael, Invest Cyprus chairman, said that hey will focus on attracting investors in the island’s tourism sector and the “hundreds of millions in investment needed” in tourist infrastructure.

The National Tourist Strategy also aims to boost overnight stays in the winter months and quadruple overnight stays in rural areas. According to Michalis Michael, Invest Cyprus will promote thematic tourism such as sport, religion, health tourism and tourism in rural areas in order to achieve this goal.

“We know where we want to go and we have placed this strategy in our programme and we will place investment in tourism top of all our roadshows abroad,” the Chairman said.

Additionally, he noted that they are confident in the sustainability of such investments and they just need to find the right investor.

Director-general George Campanellas said that huge infrastructure projects are needed to achieve tourism targets. According to Campanellas, synergies could be achieved with investment funds registered in Cyprus seeking to invest their assets under management. The recently established unit, Tour Invest Cyprus, will operate as a One-Stop-Shop providing information to potential investors on infrastructure projects and available investment opportunities.

Moreover, the unit will organise on-site visits and while collaborating with property owners, create a project bank with all available investment opportunities on the island.

For more information you can visit their website at: www.tourinvestcyprus.org.cy

Cooperation Partners
  • Logo for CFA Cyprus
  • Logo for Cyprus Chamber of Commerce and Industry
  • Logo for Cyprus In Your Heart
  • Logo for Cyprus Shipping Chamber
  • Logo for Invest Cyprus
  • Logo for Cyprus Investment Funds Association
  • Logo for Association of Cyprus Banks
  • Logo for Cyprus International Businesses Association
  • Logo for Ministry of Energy, Commerce, Industry and Tourism