Tourism

Cyprus has for many years been a prime tourist destination due to its climate and historic attractions. Some 2.4 million tourists are visiting the island every year, and just over half are British. Tourism levels are said to be falling in recent years, with fewer visitors from the UK. This slack is being taken in part up by visitors from other countries, especially from Russia and Eastern Europe. One major barrier is the high cost of flights. The flight to Cyprus from the UK is just over 4 hours, making it a medium haul destination. The introduction of low cost flights is expected in 2008. Tourism is an important source of income for Cyprus and plays a significant role in the country’s economy. In 2005 tourism revenues were CYP 1,005. million (£1212.5 million), accounting for 13% of GDP.

The Government is planning to attract more visitors to Cyprus and in particular change the type of people who visit here. This is to try to dampen out the seasonality of the tourist trade, which is heavily geared to the summer months. A total of 14 new golf courses are planned, with long planned marinas being built in Paphos and Limassol. The airports are being upgraded to provide a better customer experience and increase total capacity to the island to 7.5 million visitors a year. The airport projects at Limassol and Paphos will be completed by 2009.