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President of Cyprus backs tourism

Speaking at the inauguration of the renovated hotel in Limassol , President Anastasiadis said that tourism was for decades one of the most stable pillars of our economy and an important driver of growth after the disaster of 1974 , and noted that today , " that our country again is tested by the financial crisis ,tourism is one of the pillars upon which we rely to restore the country to stability and growth trajectory . "

"The Government is trying in every way to encourage growth and attract investment ," he said , and pointed out that he has already announced a series of measures, such as extending the range of land development for large projects, the licensing of tourism development, including hotels, casino, golf courses etc, while people who are not EU citizens can obtain a permanent residence permit in Cyprus under by purchasing a home worth at least 300,000 euros and deposit at least EUR 30 000 to a local bank for at least three years.

This year the President continued, despite the difficulties and peculiarities of the year , the tourism industry has proved that can not only not only withstand but also vastly yield for the economy. He added that Cyprus has benefited this year from rapidly growing tourist arrivals from Russia , noting that the Russian market is becoming more strategic with great significance for Cyprus tourism.

He said that the Government is making all those necessary actions that will further enhance the tourist flow from Russia, such as solving any problems and obstacles which might arise. He spoke also for “the adoption of a policy of open skies" adding that the Minister responsible for Tourism and Transport is already in contact with the relevant Russian authorities to achieve the facilitation and expansion of the tourism association of the two countries.

The President said that new markets such as Russia, but also traditional markets such as the English, Scandinavian and European in general, are important life-downers of the tourism industry and our economy in general. He noted that Cyprus has all the prospects and the qualities to become a key tourist destination all year round, asserting that "the government is already working in this direction.”

"My presence here is intended to reward investment in a sector crucial to our economy and encourage such initiatives to upgrade the infrastructure and tourist product in general," the President added.