The need for enhanced collaboration between public authorities and private enterprises was emphasised during the recently held ‘Beyond Sea & Sun’ conference.
The event, organised by Hermes Airports with the support of Hellenic Bank, focused on strategies to transform Cyprus into a year-round tourist destination.
The conference addressed issues such as infrastructure development, legislative updates, and alternative tourism models, with a particular emphasis on global trends and the evolution of Cyprus’ tourism offerings.
Speaking on a panel dedicated to improving tourist experiences through infrastructure, Phivos Stasopoulos, Chief Banking Officer at Hellenic Bank, highlighted the crucial role of the tourism industry in Cyprus’ economy.
“The sector has shown remarkable resilience during periods of uncertainty, economic downturns, and geopolitical crises,” he said.
Stasopoulos also stressed the importance of broadening Cyprus’ tourism appeal beyond its traditional “sun and sea” offerings.
“At Hellenic Bank, we strongly support the hospitality sector, which constitutes the largest segment of our corporate lending portfolio,” he stated.
“However, extending the tourist season and diversifying the product requires building essential infrastructure,” he added.
What is more, Stasopoulos explained that such infrastructure includes airports, air connections, marinas, golf courses, and sports facilities, all of which can attract visitors outside the peak season.
“Hellenic Bank is in favour of all initiatives to enhance infrastructure, such as the recent expansion of our airports,” Stasopoulos said, calling for greater cooperation between the public and private sectors.
The bank also praised initiatives like ‘Visit Paphos’, describing them as exemplary collaborations within the industry.
“It is inspiring to see competitors unite to promote their shared interests,” Stasopoulos said.
“The promotion of Paphos as a destination through digital marketing is a groundbreaking effort, which is why Hellenic Bank supported it from the outset,” he added.
He suggested that similar projects in other countries are often managed under a national framework and called for Cyprus to adopt the same approach.
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