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Jun 15, 2021 · June 16, 2021. Our latest economic assessment of Cyprus highlights three key policies to strengthen the recovery from the effects of the pandemic shock. Cyprus entered the COVID-19 crisis in a strong position, but the economy’s dependence on tourism and its high public and private debt levels made it especially vulnerable to the pandemic shock.
Dec 27, 2023 · High inflation, aggressive interest rate policy, sanctions, the war in Gaza and the recovery of the tourism sector are just some of the events that had a crucial impact on the 2023 economy, with the effects expected to carry through to 2024.
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Nov 29, 2023 · ECONOMY TOURISM. Ambitious Cyprus tourism plans for 2024. MARIA ERACLEOUS. 29.11.2023 • 04:00. At 65.2 million euros, the proposed budget of the Cypriot Deputy Ministry of Tourism for 2024 surpasses previous years, accounting for initial budgets and excluding additional expenditures.
Cyprus’s economy has a very high dependence on tourism related industries , with the total of direct and indirect contribution accounting for nearly 14 percent of GDP in 2019, which was higher than in many other European countries. 1 Tourism and related services also provided a large contribution (around 13 percent ) to total employment. 1
Mar 13, 2023 · Cyprus’ hospitality and tourism sector has repeatedly proven to be one of the most resilient sectors of the island, even in unprecedented times like the pandemic, geopolitical and economic crises, and other unfavorable happenings around the world.
National Tourism Strategy 2030 – Foreword. Tourism has always been the heartbeat of Cyprus’ economy, contributing (directly and indirectly) close to 20% of GDP. No wonder then, that defining a National Tourism Strategy 2030 was classed as our Deputy Ministry’s foremost priority.
May 5, 2021 · In an effort to kickstart its travel economy, which makes up a sizeable contribution to its economy (around 13%), the Mediterranean country of Cyprus is the latest to welcome...
