The ongoing tourist season is going well and booking rates are high, President of the Cyprus Hotels Association (PASYXE) Thanos Michaelides told the Cyprus News Agency (CNA).
Michalides highlighted that August is expected to witness a booking rate of approximately 95%.
Furthermore, he underscored the promising outcomes expected from an impending Memorandum of Understanding (MoU) with Arab nations. This collaboration is anticipated to not only attract tourists but also position Cyprus as a convenient layover for European expatriates employed in these regions.
Michaelides stressed that while the British market remains significant, diversification into emerging markets should not be overlooked.
Furthermore, Michalides added that for Cyprus to flourish as a tourist hub, a spectrum of accommodations ranging from boutique to large-scale five, four, and three-star hotels is essential.
He expressed support for substantial investments, such as marinas and casinos, that would augment the island’s appeal.