As a tourism powerhouse, the tourism industry is a pillar of the Cypriot economy, providing significant support to the country's economic development. In 2019, Cyprus's tourism sector performed remarkably well, further fueling the burgeoning investment market in the country!
A Fast-Growing Winter Tourism Destination in the EU
According to the latest data released by Eurostat, Cyprus saw its winter tourism grow by nearly 7% in 2019, ranking only behind Romania (8.6%), Croatia (7.4%), and Poland (7.3%), making it one of the fastest-growing countries for winter tourism within the European Union.
A comparison of data from the 2017-2018 and 2018-2019 winter seasons shows that arrivals in December 2018 increased by 10.5% compared to the same period in 2017; tourist numbers in January 2019 grew by 27.1% year-on-year, and February 2019 saw a 14.2% increase compared to 2018.
Cruise Ship Arrivals in Limassol Hit Record Highs
According to data from port operator DP World Limassol, a total of 93 cruise ships docked at the Port of Limassol in 2019, an increase of 40% compared to 2018. The cumulative number of cruise passengers reached 125,000, a 119% increase from the 57,000 recorded in 2018, marking a historic high.
Looking ahead to 2020, the Chief Marketing Officer of DP World Limassol stated that the port management will focus on further increasing cruise ship arrivals in 2020, with passenger numbers projected to exceed 175,000, setting another record.
With such outstanding performance in its tourism sector, Cyprus's investment immigration market is also flourishing! As a nation that is concurrently an EU member state, a Commonwealth member, and a Eurozone country, and with its recent formal application to join the Schengen Area, Cyprus is poised to become one of the rare "four-in-one" status countries in the world. As a result, Cyprus citizenship is highly sought after by global investors and is attracting an increasing amount of attention.
Currently, through the Cyprus Investment Program, investors can apply for a Cyprus EU passport for their whole family across three generations by purchasing at least 2 million euros worth of residential real estate (either a single property or multiple) and making a 150,000-euro donation. Alternatively, investors can apply for immigration to Cyprus by purchasing, establishing, or participating in the investment of Cypriot businesses. The Limassol Golf Integrated Resort project, as introduced by Worldway Immigration, is an equity investment project suitable for those applying via the business investment route. By investing 2 million euros in the equity of this project, while simultaneously purchasing 500,000 euros worth of Cypriot real estate and making a 150,000-euro donation, families can qualify for the Cyprus EU passport for three generations.
As the Cyprus EU passport becomes increasingly popular and the number of applicants continues to rise, the Cypriot government has raised the threshold for application several times since last year, restricting quotas and increasing donation costs. No one can predict if policies will further tighten in the future. Therefore, investors interested in immigrating to Cyprus should value the current opportunity while it remains available.
Focus on status planning, build your home abroad, and choose the Cyprus EU passport. For Cyprus EU passport processing, choose Worldway, and make your immigration path easier. For details, please contact: 400-138-2929.
