Outgoing Commerce Minister, Nicos Rolandis, has expressed his concerns with regard to the imminent American intervention in Iraq and the negative impacts in the tourist industry of eastern Mediterranean. Mr. Rolandis said that the foreign news agencies present maps of the area surrounding Iraq including Cyprus, freezing up the demand for tourism in the island.

On the occasion of the 25th Annual Hotel Management Seminar, Mr. Rolandis ceased the opportunity to stress that indications from the European markets are not encouraging, as Cyprus’ major competitors have reduced prices further, making Cyprus an even more expensive destination.

As far as the United Kingdom is concerned, Cyprus’ major tourism market (50% of total arrivals), the Minister said that in the face of the possible war in Iraq,, where the insurance costs will rise, the British Air Securities Lloyd assured that it will examine each country’s risk uniquely and carefully.