Cyprus Tourism Continues to Break Records in 2019

Interviews June 23, 2019 No Comments admin Cyprus, Greece, leptos

Cyprus Tourism Continues to Break Records in 2019

Tourist arrivals to Cyprus broke yet another record in February and in the first two months of the year, exceeding the number of tourists that visited the island during the same period in previous years.

“On the basis of the results of the Passengers Survey, arrivals of tourists reached 105,571 in February 2019 compared with 101,481 in February 2018, recording an increase of 4 per cent. February 2019 had the highest volume of tourist arrivals ever recorded in Cyprus during the specific month” the Statistical Service announced on Monday.

Cyprus has an open, free-market, service-based economy with some light manufacturing. Internationally, Cyprus promotes its geographical location as a “bridge” between East and West, along with its educated English-speaking population, moderate local costs, good airline connections, and telecommunications.

Since gaining independence from the United Kingdom in 1960, Cyprus has had a record of successful economic performance, reflected in strong growth, full employment conditions and relative stability. The underdeveloped agrarian economy inherited from colonial rule has been transformed into a modern economy, with dynamic services, industrial and agricultural sectors and an advanced physical and social infrastructure. The Cypriots are among the most prosperous people in the Mediterranean region, with nominal GDP per capita exceeding $25,000 in 2017.

The success of Cyprus in the economic sphere has been attributed, inter alia, to the adoption of a market-oriented economic system, the pursuance of sound macroeconomic policies by the government as well as the existence of a dynamic and flexible entrepreneurship and a highly educated labor force. Moreover, the economy benefited from the close cooperation between the public and private sectors.