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Invest Cyprus creates unit to achieve 2030 tourism targets

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Invest Cyprus, the organisation tasked with attracting foreign direct investment has created a special unit to help the National Tourist Strategy succeed in attracting 5 million tourists by 2030.

Invest Cyprus chairman Michalis Michael said the focus will be on attracting investors in the tourism sector and the “hundreds of millions in investment needed” in tourist infrastructure.

Apart from 5 million arrivals by 2030, the National Strategy aims at boosting overnight stays in the winter months and quadruple overnight stays in rural areas.

“We know where we want to go and we have placed this strategy in our programme and we will place investment in tourism top of all our roadshows abroad,” Michael said.

He said InvestCyprus will promote thematic tourism such as sport, religion, health tourism and tourism in rural areas.

“We are certain that there is sustainability (in such investments) we just need to find the right investor.”

The body’s director-general George Campanellas said that huge infrastructure projects are needed to achieve tourism targets.

He said synergies could be achieved with investment funds registered in Cyprus seeking to invest their assets under management.

InvestCyprus will operate as One-Stop-Shop providing information to potential investors on infrastructure projects and available investment opportunities by establishing ‘TourInvest Cyprus’.

It will also organise on-site visits while in collaboration with property owners create a project bank with all available investment opportunities on the island.

Furthermore, it has created a website www.touristinvestcyprus.org.cy.