May
2010 Newsletter
Growth figures up by 9.5% for the 1st quarter from the
Middle East
The tourism industry in Cyprus has received a fresh
impetus from the Middle East with a huge injection of
cash from Qatar for a multi-million dollar tourism
development. This was announced at the ongoing Arabian
Travel Market by HE Antonis Paschalides, Cyprus’
Minister of Trade, Commerce and Tourism.
A 50:50 joint venture has been established to create a
property investment fund that will develop the
state-owned land opposite the Hilton Hotel in the
capital Nicosia.
Qatar’s Diar Real Estate Investment Company will
invest $150 million (AED 551 million) in this new joint
venture and the Cyprus government will contribute the
land on which the complex will be built. The area
allocated for the complex is close to the commercial hub
of Nicosia.
The two countries Cyprus and Qatar hold an equal stake
in the 55,000 square-meter (592,020 square foot) tourism
complex. Upon completion, the project will include a
5-Star hotel, luxury residential apartments, retail
space and office buildings. It is destined to become a
major tourist destination, aimed at sophisticated
investors and tourists from around the globe.
“This major tourism development underscores the strong
relationships that exist between Cyprus and the Middle
East countries and clearly underlines the confidence in
Cyprus’ economy which has remained relatively unscathed
from the global economic crisis,” HE Paschalides said.
Highlighting Cyprus’s attractiveness for Middle East
visitors, Vassilis Theocharides Director, Cyprus
Tourism Organisation (CTO) Middle East & Arabian Gulf
Office said, “Even if you’ve been to Cyprus before,
there’s always a new world to discover. Cyprus lies at
the crossroads of three continents, where East meets
West and a new experience awaits the visitor under the
sun every day. Where Championship Golf courses, inviting
beaches, and breathtaking mountain trails lie around
luxurious hotels and the cuisine is among the finest in
the world.”
“Tourism arrivals to Cyprus from the Middle East rose by
9.5% percent from January to March 2010 year on year
denoting an overall 6% growth. Tourism accounts for
around 11 percent of Cyprus's gross domestic product,”
Mr. Theocharides concluded.
Incentive Scheme 2010
Following last years successful incentive scheme program
the CTO is re-launching this year for all our trade
partners in the Middle East and beyond.
All agents* must send a note of interest one month prior
to sending their groups to Cyprus to be able to receive
the following:
A) Until 50 pax: corporate gift
for each person + welcome from CTO in the airport +
promotional printed material.
B) 50-100 pax: gift + welcome + printed material + lunch
or dinner up to 25 euro per person.
C) 100 pax and up: gift + welcome + printed material +
lunch or dinner up to 25 euro + bus from and to airport.
The sum is given to the foreign travel agency against a
rooming list (this rooming list could be provided by the
Cypriot DMC or the foreign travel agency).
The scheme is also non negotiable and we cannot swap or
replace any of the benefits.
*All proposals must come directly from the foreign
travel agent as we shall only be dealing with them and
not the Cypriot travel agents.
Photos from our recent
activities
Emirates Brochure Launch, Dubai
Arabian Travel Market, Dubai
Andreas Philokyprou (right),
Member of the Board of Directors of Cyprus Tourism
Organisation and Ghassan Saad, Board Member of the
Association Of Travel And Tourist Agents In Lebanon,
Beirut, April 2010.
