The competitiveness of the island’s tourist product was the major issue of talks between the representatives of the Board of Directors of STEK and the Finance Minister, Charilaos Stavrakis on September 5.

According to the relevant announcement, STEK Chairman, Akis Vavlitis informed the Minister on the competitiveness problems that the hotel industry faces, as well as the requirements for the achievement of stable development prospects of tourism.

Mr. Vavlitis stressed the need to attract new enriching investments in the hotel sector and the sector of tourism in general via the adoption of generous and effective incentives.

He also emphasized that tourist economy must be a priority in the governmental policy via its placement in the sectors of great importance so that it can absorb funds from the EU and national sources in the employment and the export of goods and services.

In addition, Mr. Vavlitis referred to the need to adopt incentives for the withdrawal of up to 20,000 bad quality and unviable rooms to secure the desirable competitiveness and viability of Cyprus’ quality hotel industry.

Finally, STEK Chairman expressed his concerns on the airport duties, which caused a stir in the past few months and urged the government to intervene, turning to a Strategic Investor so as to rationalize the airport duties.

The Minister, on the other hand, was exceptionally interested in STEK’s views and agreed to hold a new meeting with the participation of the CTO in due time to promote the settlement of several issues / problems raised by STEK.