Cyprus’ Bed Supply Overwhelmed By Demand

Pambos Michaelides, of Horwath HTL in Cyprus has written his latest Market Report: Cyprus’ Bed Supply Overwhelmed By Demand.

Cyprus’ Bed Supply Overwhelmed By Demand

Cyprus has seen a booming growth in terms of tourism in 2016. This has been primarily driven by the political situation in neighboring countries as well as a refreshed approach to strategy by the Cyprus Tourism Organization. Supply of beds has been playing catch-up with demand, and multiple tourism related projects are currently underway. However, as tourism numbers are forecasted to continue to grow, with probably accelerated rhythms in the coming years, the market needs to find more ways to cope with the demand.
Tourism is and will be growing exponentially in Cyprus in the next few year and the current number of beds is already reaching its limit.