DISY leader proposes measures to mitigate economic risks from Middle East crisis

On Friday, Annita Demetriou, leader of the Democratic Rally (DISY) and President of the House of Representatives, held a meeting with representatives from key tourism and economic sectors in Cyprus. Attendees included officials from PASYXE, STEK, the Association of Travel Agents, CCCI, OEB, and the Cyprus Shipping Chamber. The discussion focused on the potential impact of the Middle East crisis, which has already led to cancellation of tourist bookings, particularly for the March-May period. Participants identified major risks to energy, trade, and tourism, while expressing concern over inflationary pressures caused by rising energy and transport costs. In response, Demetriou presented seven proposals to address these challenges. These include safeguarding air connectivity, implementing financial support schemes for the industry similar to those used during the COVID-19 pandemic, and increasing international promotion budgets. Other measures involve reviewing travel advisories from the US and UK, utilizing Cyprus's EU presidency for crisis management, ensuring worker security, and providing guarantees to travel agents. The goal is to establish a comprehensive crisis management plan to stabilize the local economy.