Cyprus Boosts Tourism Sector

The 315 billion euros of allocated funds cover the upkeep and enhancement of tourism. President Anastasiades addressed the Hoteliers' Association General Assembly and discussed a newly introduced tourism approach.

The Cypriot President stated that the tourism sector will be allowed via a specialized department, "they will be able to draw funds to help them upgrade and renovate the island's tourist package," as reported by Parikiaki.

Anastasiades added that Commerce Minister Giorgos Lakkotrypis and President Under-Secretary Constantinos Petrides are penning a domestic design to tourism, that showcases the island's attributes.

The Republic of Cyprus President added, "The ultimate goal is to promote entrepreneurship, competitiveness and growth in our tourist sector through the simplification and streamlining of procedures, reduction of administrative costs and the emergence of a final revised regulatory framework."

Anastasiades touched upon the nation's financial state, "...challenging economic situation in the recent years has made tourism even more pivotal in the effort to restart the economy and return to development".

(Source: Parikiaki)