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HOTEL, TOURISM & LEISURE

CTO to Give €16 Million in Sponsorships

CTO to Give €16 Million in Sponsorships

The Cyprus Tourism Organisation (CTO) has announced it will give sponsorships, valued at €16 million total, with the goal of boosting tourism investments, enriching the tourist product, and lengthening the tourist season, In-Cyprus reports.

The sponsorships are co-funded by the European Regional Development Fund and the Republic of Cyprus.

Since August 4, the CTO has invited all interested hoteliers and related businesses to submit applications.

The plan is based on three pillars:

  1. The creation of new products and services especially addressing alternative tourism forms such as conference or sports tourism.
  2. The upgrade and enrichment of services, the extension of the tourist season, the improvement of the quality and composition of the tourist product, expansion to new markets.
  3. The upgrade and enrichment of the offered services by existing tourism units, addressing the seasonal needs of the winter tourist.

 

Applications will be accepted until February 5, 2018, said CTO official Ploutarchos Pantelides, noting that in the previous such sponsorship attempt, only €10 million of the €13 million available were used.

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