Employer federations evaluate government support measures for the tourism sector

The Cypriot government has announced new economic support measures to mitigate the impact of instability in the Middle East on businesses and households. Both the Cyprus Employers and Industrialists Federation (OEB) and the Cyprus Chamber of Commerce and Industry (KEBE) have responded to these announcements. OEB described the measures as a step in the right direction but cautioned that support for the tourism industry is insufficient relative to the scale of current challenges. OEB requested continuous evaluation and readiness to introduce supplemental measures for sectors including hotels, catering, and travel agencies. Conversely, KEBE expressed satisfaction with the measures, specifically citing the importance of supporting tourism as a pillar of the Cypriot economy. KEBE also highlighted the effectiveness of consumer-focused initiatives, such as zero-VAT products and electricity subsidies for vulnerable groups, in maintaining purchasing power. Both organizations emphasized the need for agile implementation and expressed willingness to collaborate with the government on further necessary interventions to maintain economic stability.