The Cyprus Employers and Industrialists Federation (OEB) believes that the support measures announced today by the President of the Republic are in the right direction, but the scope of support for the tourism sector, at first glance, does not contribute substantially to the size of the consequences suffered by businesses in the sector nor to the challenges they have ahead of them to manage.
As the forecasts for the development of the tourist year are not particularly encouraging, a continuous assessment of the situation and readiness to plan and announce targeted complementary measures is required, for the wider tourism sector, hotels, catering, travel agencies, theme parks, etc.
At the same time, the communication strategy should be continued and intensified and the message should be sent internationally that Cyprus has always been and remains a safe and reliable European destination for holidays, investments and business activity. The measures announced can help limit the impact of the crisis, however, the real recovery of the economy requires a quick return to full normality.
The measures that concern households and citizens more broadly are also in the right direction and their effectiveness will become apparent from the duration of the wider situation.
OEB will evaluate the results of the implementation in practice of the announced measures and in cooperation with the Tourism Agencies – its Members, will come back with additional documented and targeted recommendations to the government staff.
