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Cypriot president promises tourism push
In good news for investors in overseas property, the Cypriot president has announced his government's commitment to upgrading the island's tourism sector.
Speaking at the opening ceremony of the Hoteliers' Pancyprian Association General Assembly in Nicosia, President Papadopoulos said that Cyprus was willing to meet the "challenge" presented by other popular holiday destinations.
"The government, evaluating correctly the decisive significance of tourism to the economic development of the island and the people's welfare, maintains in its priority, interests and aims, the continued upgrading of this key sector."
Mr Papadopoulos stressed that: "our firm position is that Cyprus' reply to competition is offering quality and a special tourist experience to the visitors of the island."
The Mediterranean island is already likely to receive an economic boost after the European Commission approved its entry into the eurozone.
The president's speech should be heartening for British buyers considering purchasing property or buy-to-let investments, with an improvement of the already-healthy tourism sector likely to lead to rising property prices and improved rental returns.
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