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The sun is shining on Cyprus' tourism industry |
Written by Daniel Collins
Tuesday, 01 July 2008
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The largest island in the Eastern Mediterranean, Cyprus is renowned for its natural beauty. Geographically, it is situated at the crossroads of Europe, Asia and Africa, and subsequently offers a rich fusion of Greek and Middle Eastern culture which is most evident in its music and food. Cyprus - home to the legendary birthplace of Aphrodite, the goddess of love, beauty and fertility - is sun-drenched for over 300 days of the year and offers an ideal destination for those looking to escape to warmer climes. Cyprus' membership into the European Union (EU) in 2004 has seen its economy flourish. Travel and tourism - an economic mainstay for the country - has particularly benefited, with encouraging predictions for growth over the next ten years. Coupled with a rise in low-cost airlines, its tourism industry has never looked so buoyant. Budget airlines are additionally predicting that traffic to new EU countries like Cyprus will increase by at least 20 per cent year on year, due to the cheap flights on offer. As a result, travel and tourism experts are expecting to see a positive impact on hotel performance. Comparing post-EU figures with current statistics, tourism in Cyprus has been significantly boosted. Personal travel and tourism increased noticeably from CYP 413.5 million in 2002 (£555.4 million) to reach CYP 575.6 million (£773.1 million) in 2007 and by 2017, this is expected to grow to CYP 122.9 million (£1,508.2 million). Total demand in travel and tourism for Cyprus is also expected to increase by 4% per annum during this period. Sitting at just under CYP 2.2 million (£3 million) in 2007, the World Travel and Tourism Council has predicted that number will reach over CYP 3.7 million (£5 million) by 2017. Not only have tourism figures positively increased since Cyprus became an EU member, but industrial and economic numbers of those employed in the sector have also risen. In 2007, 165,000 people were employed in both economy, and industry employment, with that figure expected to reach 172,000 by 2017. Overall, Cyprus' travel and tourism industry is forecast to contribute CYP 1,567.5 million (£2,106 million) to its Gross Domestic Product by 2017. The economy contribution should rise to CYP 3,455.9 million (£4,643.4 million) in this same period. Additionally, industry experts have said that due to EU membership, tourism investment opportunities will be abundant. The rise in cheap flights to Cyprus, as a result of its joining the EU, has had an extremely positive effect on what is a vital Cyprian industry. With such a wide range of deals available, people are being offered the chance to explore an island as famous for its mountainous regions as it is for its endless beaches and friendly, relaxed culture. Article Source: http://www.ArticleBlast.com |
About The Author:
Daniel Collins writes on a number of topics on behalf of a digital marketing agency and a variety of clients. As such, this article is to be considered a professional piece with business interests in mind.
Daniel Collins writes on a number of topics on behalf of a digital marketing agency and a variety of clients. As such, this article is to be considered a professional piece with business interests in mind.
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