RSM Cyprus

Tourism

Tourism plays a very significant role in the Cypriot economy and a key driving force for decades. New investments and multi-million projects are underway to boost the tourist industry, ranging from marinas and golf courses to improving medical, wellness and conference tourism, thus enhancing and encouraging year-round visitors. Cyprus, being among the ten safest countries in the world, attracts increasing numbers of visitors from Russia, Germany Greece, Israel, United Kingdom, Austria, France, the Netherlands as well the Middle East. Projections of international tourist arrivals are overwhelming, reaching 4 million per year by 2025 and generating revenues of more than €30bn over a ten-year span. 

Cyprus is famous for its hospitality and for the excellent quality of life, backed by numerous prestigious international awards and listed amongst the 3 best countries in the world for someone to live in. Cyprus ranks at the top of the EU for crystal clear waters and has been awarded with 57 Blue Flags, which corresponds to almost every beach on the island, being the first country in the EU to comply 100% with the criteria for water quality.  With these 57 Blue Flags, Cyprus is achieving three records: the most Blue Flags per capita in the world, the densest concentration of Blue Flag beaches and the most Blue Flag beaches per coastline.​

Cyprus is not only sandy beaches and sun; it is much more than that. Sports, culture, conference and medical tourism are on the rise, offering travelers a wide range of choices to satisfy every taste and budget. A key growth segment is Agrotourism,  giving a unique opportunity for someone to enjoy and experience authentic and traditional village life.​

Investments in Tourism have been attracting a new interest in the recent years. The construction of multipurpose projects such as golf courses, luxury marinas and hotels, and the further development of accessible, wedding, pilgrim, wellness, nautical and sports tourism, are extending the touristic season offering a year-round destination. In addition, the development of a luxury casino resort is at a public procurement stage and has become an investment magnet for big international casino companies. Moreover, following the success of the Limassol Marina, plans are in place to establish new luxury marinas in Ayia Napa, Larnaca and Paphos. These exciting developments are all part of a plan to upgrade country’s tourism industry.