OEB: Support for tourism is in the right direction but insufficient

The Cyprus Employers and Industrialists Federation (OEB) states that the support measures announced by the President of the Republic are in the right direction. However, they believe the scope of support for the tourism sector does not substantially address the sector’s losses or upcoming challenges.

Given the less-than-encouraging forecasts for the tourism season, OEB emphasizes the need for ongoing assessment and the announcement of targeted additional measures for sectors such as hotels, catering, travel agencies, and theme parks.

OEB also highlights the importance of continuing and intensifying communication strategies to promote Cyprus as a safe and reliable European destination for holidays, investments, and business activities. While the announced measures can help limit the crisis impact, full economic recovery depends on a swift return to normality.

Support measures aimed at households and citizens are also viewed positively, with their effectiveness to be evaluated over time.

OEB will monitor the implementation results and, in collaboration with tourism agencies and members, will provide additional targeted recommendations to government authorities.