Cyprus tourism weighs on environment
Cypriot fintech company WiRE FS CEO Pavlos Loizou last week commented on the state of the tourism sector in Cyprus and how it stands up to financial scrutiny, as well as how it has impacted sustainability efforts on the island.
Loizou noted that at the surface level, Cypriot tourism has thrived over the past two decades, but noted that “since 2000, we have not been able to increase the real income generated by the tourism industry, despite the increase in the number of tourist arrivals, successive incentive schemes, increase in building rates, subsidies, and other measures,” he added, explaining that this is because “Cyprus chose to prioritize volume over quality.”
At the same time, Loizou said, Cyprus is not respecting environmental laws, wasting water and paying extremely high energy prices.
“Quality takes work, organization, rules, oversight, strategy, and vision,” Loizou said. [Cyprus Mail]
