THREE REASONS CYPRUS IS THE PERFECT DESTINATION FOR HOSPITALITY INVESTORS

2. A safe investment environment

Cyprus is one of the safest and most hospitable countries in the world to live in and invest in, having enjoyed political stability for decades. Since 2004, it has been a country member of the European Union, with full access to all European markets. The euro has been the official currency of the country since 2008. International direct airline routes connect Cyprus with all major European and Middle Eastern cities, while the country enjoys excellent telecommunications and shipping facilities.

3. Governmental support

The tourism sector is a high priority for the Cypriot government. To this end, all stakeholders work hard for the continuous enrichment and improvement of the island’s infrastructure, in close cooperation with the private sector. The road network and airports in Larnaca and Paphos are modern, while new projects for nautical tourism and a casino will be launched soon. Cyprus’ ideal climate, especially during winter, makes the island attractive to special-interest segments. The government has adopted a policy of encouraging investment in 14 golf courses, with the aim of boosting the quality of Cyprus as touristic destination. • The direct contribution of travel and tourism to GDP was USD 1.4 billion in 2016, forecast to rise to USD 6.2 billion in 2027.

• In 2016, the sector directly supported 26,500 jobs (7.2 percent of total employment). This is expected to reach 32,000 jobs in 2027.

• Travel and tourism investment is forecast to reach over 407 million in 2027.