Cyprus tourism weighs heavily on the environment

Pavlos Loizou, CEO of Cyprus fintech firm WiRE FS, last week commented on the state of Cyprus’ tourism sector and how it will stand up to financial scrutiny and the island’s sustainability efforts. I commented on how it affected me.

Mr Loizou said Cyprus tourism has ostensibly flourished over the past two decades, but “since 2000, despite an increase in tourist arrivals, the real income generated by the tourism industry has been declining. We have not been able to increase it,” he said. , a series of incentives in his scheme, construction rate hikes, subsidies and other measures,” he added, explaining that this was “as Cyprus chose to prioritize quantity over quality.”

At the same time, Roizou said Cyprus does not respect environmental laws, wastes water and pays very high energy prices.

“Quality requires work, organization, rules, oversight, strategy and vision,” says Loizou. [Cyprus Mail]