cyprus economy — cyprus economy — In a recent statement, George Pantelidis, the president of the Cypriot Employers and Industrialists Federation (Oev), urged for the immediate continuation of daily social and business activity in Cyprus. He expressed concern that unnecessary disruptions could result in avoidable economic losses, particularly in light of the ongoing crisis in the Middle East.
Pantelidis reassured the public that the Cypriot government has confirmed the country will not engage in military operations in the region. This clarification comes as the island grapples with heightened tensions due to its geographical proximity to conflict zones.
Addressing the recent drone incident at the RAF Akrotiri base, he noted that the situation prompted the mobilisation of state mechanisms and the enhancement of defensive measures, aided by allied countries, especially Greece. While public anxiety is understandable, Pantelidis stressed the need for timely and accurate information to alleviate unnecessary fears.
According to the Oev, business activity remains largely unaffected, with only minor disruptions reported. The most significant impact has been the temporary suspension of flights by certain airlines to the island’s airports. However, Pantelidis pointed out that most airlines have maintained their schedules, and those that briefly halted operations have resumed services to Larnaca International Airport and Paphos International Airport.
“This reinforces a sense of stability and security,” he said, reflecting a growing confidence in the resilience of the tourism sector, a crucial pillar of the Cypriot economy. Pantelidis further urged the government to implement preventive measures to mitigate potential economic pressures due to anticipated rises in fuel and raw material prices.
He also advocated for targeted support for the hotel and tourism industry, which may face challenges as the region’s situation evolves. Pantelidis highlighted the media’s role in providing objective public information, expressing optimism that they will continue to contribute positively as the country strives for a return to normalcy.
