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Loizou Loizou

Views & Insights

ANGELOS LOIZOU
CHAIRMAN, CYPRUS TOURISM ORGANISATION

With tourism having a crucial role on the Cyprus economy, Angelos Loizos, chairman, Cyprus Tourism Organisation (CTO), reveals what needs to be done to truly maximise its potential.

It is not enough just to declare or repeat that tourism is the driving force and the heavy industry of our economy. In order to consolidate and evolve as a destination, both quantitatively and qualitatively in the fields of tourism supply and demand, the sector must become a top priority.

In view of the strategic planning of tourism, it is extremely important to ensure a balanced and careful development of the destination, always in light of environmental sensitivity, social prosperity and economic viability, on the basis of capacity. […]

However, where stronger growth and acceleration is sought, it would be good to take into account the potential impact on businesses and their financial strength.

We should not be allowed to repeat the phenomena of an excessive and irrational strain on the natural environment and, as far as we can, intervene or flatten our beaches. By altering and alienating our natural wealth, we are gradually destroying what makes our country beautiful and unique, creating, in essence, an ‘artificial’, non-authentic destination. […]

Moreover, it is under 'prosperous' conditions that our credibility, maturity and care are considered as a destination, and it is therefore necessary to adopt medium- and long-term approaches over time rather than ephemeral speculative treatment, as has unfortunately happened in past cases.

The need to preserve the restored reliability and creditworthiness of Cyprus as a tourist destination is a given. The changing conditions of tourism and relentlessly competitive tourist environment call for the continuation of activity and vigilance in a modern, flexible and fast business way from the perspective of tourism officials. […]

With the increasing penetration of the cooperative economy and online 'housing platforms' and rents, new data is now being developed that must be rationalised (for example, through targeted taxation) by the state, as due to the degree of substitution, parallel market conditions and unfair competition has been created.