Invest Cyprus recorded significant interest from specialized investors in the field of tourism and hospitality for Cyprus, during the conference “Resort and Residential Hospitality Forum”, which was held this year in Portugal.
As part of the conference, which was attended by more than 300 delegates from 40 countries, the Cypriot delegation had the opportunity to hold targeted meetings with institutional investors, hotel management companies and well-known hotel chains, promoting our country as an investment destination. During the two-day conference, Invest Cyprus CEO George Kampanellas led a roundtable discussion, introducing the participants to the TourInvest Cyprus specialized unit, through which the organization provides guidance and support to foreign investors.
At the same time, he highlighted the organization's new initiative, the “Project Bank” platform, which includes large-scale development projects in strategic sectors of the Cypriot economy. He himself, speaking to “F”, acknowledged the importance of attracting investment in tourism, given the severe blow suffered by the sector due to the pandemic. “We recognize both the importance of the sector for the development of the Cypriot economy and the intense competition that prevails internationally at the moment and our effort is to highlight the multiple competitive advantages of Cyprus as a destination for tourism investments,” he explained to “F”. G. Kabanellas. He added that the comparative advantage of Cyprus lies in the fact that, apart from being a tourist destination, it is also an important business center of the region, with an ever-increasing number of foreign companies operating on the island. “At the same time, Cyprus remains one of the safest countries in the Mediterranean, being a quality destination with great investment opportunities,” he said. “The main conclusion from our participation in the conference is that Cyprus is high in the preferences of investors who specialize in the field of hospitality and we hope that soon this interest will be transformed into operations, which will further upgrade the Cypriot tourism product.” Mr. Kampanellas commented, recalling recent investments under development such as the marinas of Larnaca and Ayia Napa, the casino-resort as well as the descent of well-known international brands in the field of hotels and restaurants.
He further noted that Invest Cyprus's initiatives to attract investment in the field of tourism and hospitality are implemented mainly through the specialized unit TourInvest but also through the digital platform “Project Bank”, which includes a significant number of domestic developments in strategic sectors of the economy. seeking investment funds from abroad. It is noted that through “Project Bank”, investors who show genuine interest, obtain comprehensive information on existing investment opportunities but also on all regulatory and legal issues that may affect them. Adamos Adamou