The anticipated reduction in tourism could lead to up to 30,000 lesser visitors, which in turn could result in loss of up to €25 million in revenue.
Thanos Michaelides, president of the hotelier’s association (Pasyxe) has made a statement to the Cyprus News Agency (CNA), where he talked about the need to extend the tourist season window and increase the overall capacity of hotels – these two alone would help the industry weather the season-wise variations in employment and help keep revenue consistent.
He added that introducing these measures will help offer those working within the industry a more stable income, and make tourism an attractive career for jobseekers.
His arguments stem from the dependence of the island nation’s economy on tourism – roughly fifty-three-thousand people work in the industry, which amounts to around 11% of the total population that is employed. Professionals employed include a wide range of people – from lawyers to chefs and from engineers to artists.
Michaelides continued to add how one of the biggest reasons is the reduction in hotel bookings – much of which can be traced to the Russia-Ukraine war and the turbulence in the Middle East. Coupled with a stumbling economy in the UK, a March Easter and shutdown of airlines resulting in fewer flights – mean there are more than 150,000 less tourists incoming.
FTI’s bankruptcy has further added to the woes, with the tour operator having been one of Cyprus’ biggest sources of income.
