Cyprus is basking in sunshine and another amazing tourist season is in the full swing. Cyprus is also highly regarded as a safe and secure holiday destination. In 2016-2017 Cyprus achieved record arrival numbers which earned local economy 12% of the Cyprus GDP in 2016.
The success of the tourist sector is unveiling new dynamic strategies bringing more tourism via sports events, weddings, medical and eco-tourism; all this with the aim of doubling the tourist product over the coming years.
Expansion of the Cyprus international flight routes are rapidly increasing. Local carriers such as Cobalt Air and Cyprus Airways have expanded their destinations across Europe and Asia. There is also an impressive number of new destinations that are opening their flights to Cyprus on a regular basis for multiple cities across many countries throughout the Eurozone, Asia and Middle East.
The Cyprus property market has seen a major leap forward. With continued economic growth and improvements in the banking system there is a strong interest in the housing market and the demand for property is growing. Cyprus enjoys a significant overseas market for holiday property and second homes and foreigners are entitled to hold land freehold. The sale to overseas markets were up 41.4% whilst the domestic market rose by 12.6% in 2017 according to the Department of Lands and Surveys.
All in all the future looks bright in Cyprus – just like our amazing weather – Enjoy!