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BY MARIOS EFTHYMIOU
During a recession like the present one the world is suffering from, everyone looks to find other ways to make money. These could be new ideas or services or even offering better deals.
But the worst solution to date has been cutting back on staff. At first, it might seem like a good idea to reduce costs but when everyone is doing it we are also minimising the buyers out there. As is always the case, we look for solutions to our problems without realising that some of the best solutions are just under our noses.
‘Blue money’ has made its way into many economies of the world. Some have labeled it ‘ecotourism’, but in reality blue money is more specific to income generation by utilising all that we have in the sea.
Cyprus has an untapped resource for blue money but very little is done about it as most government organisations seem to think the current campaigns to attract tourism are enough or, as have become fashionable in Cyprus recently, deploying a huge campaign for health tourism.
Sadly, Cyprus is one of the most expensive holiday destinations in Europe and realistically speaking, what do we really have to offer? Wine tasting and ancient ruins just don't cut it anymore. Most of our visitors come for two reasons, the sun and the sea. So, why not utilisze what we have to generate more income?
The popular Egyptian resort of Sharm El Sheikh, the Maldives, Sudan and Malta, to name a few, have turned Blue Tourism into serious money and are attracting the big spenders. The one thing all these destination have in common are protected areas. By having protected areas they will not suffer the detriment that overfishing and illegal fishing habits have caused in Cyprus.
Cyprus might not have the most abundant or spectacular marine life, similar to what you find in the Red Sea or the Indian Ocean, but the Eastern Mediterranean does have its fair share of marine life. Dolphins, for example, are common to Cyprus but are also a major target of fishermen as they cause damage to fishing nets and are also hunting the same fish. Protecting areas in Cyprus will allow for ecosystems to flourish and allow for the attraction of people from all over the world. More importantly people who can afford to spend good money.
As an example, cage diving to see sharks could cost up to US$ 3,000 per person per day, in Cyprus however, although rare, sharks are killed as trophies. Up to US$ 4,000 a day is spent per trip for deep sea fishing for large game fish like tuna, but again this market is untouched. Malta has created an abundance of artificial reefs attracting hundreds of thousands of tourists each year. One attempt was made in Cyprus but lack of organisation and probably corruption led to a complete disaster – so now we have an artificial reef that no one is allowed near. Several artificial reefs do exist but are either they are not easy to reach or are too expensive to visit. The Zenovia wreck off Larnaca is known as one of the top ten wrecks for scuba diving in the world, this should tell us something.
A non-profit NGO in Cyprus, Nautilos Search and Rescue Team (www.nautilossar.org), has dedicated volunteers to help protect our sea and the visitors who spend their time in and around the sea. Several research projects are being conducted to understand our ecosystem and to help find ways to protect these ecosystems and the habitats that are endangered as a result of over-fishing, dynamite fishing and chlorine fishing. Other than research, a monthly beach and sea cleanup campaign gets underway by volunteers to help protect the environment and the ecosystems affected by the abundance of trash left behind by beach and sea goers.
If more effort is spent to protect our aquatic environment, then more money could be made from quality tourists. The costs required to do these things are minimal and the potential for profit is huge. We have the resources why not take advantage of them? Is Blue Money the future for Cyprus's economic problems?
Marios Efthymiou is Managing Director of Nautilos Trading Ltd.
www.nautilostrading.com
