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CTO , Troika meet

29/01/2015 23:52
A team of technocrats from Cyprus` international lenders (the Troika) held a meeting today with Director General of the Cyprus Tourism Organisation (CTO) Marios Hannides, with whom they discussed issues concerning the Organisation.

In statements to CNA, Hannides said that issues discussed include the modernisation of CTO`s legislation, the upgrading of the advisory team of CTO, Cyprus` competitiveness as a tourist destination and the finding of a better formula to have a more effective analysis of the targets as regards the arrival of tourists and income from tourism.

Hannides also said that the CTO legislation will be modified in order to become more flexible and meet in a more direct manner the needs of the tourist industry.

Elaborating on that, he said that there are timeframes set by the Troika in its memorandum with the government and the procedure will be finalized this year.

As regards ways to strengthen Cyprus` competitiveness as a tourist destination he said that a series of measures must be taken towards this direction.

"In order to have a satisfactory competitiveness compared to regional destinations such as Greece, Egypt and Turkey a series of procedures must take place which will contribute towards this direction”, he said.

Cyprus agreed on March 2013 with the Troika (EC, ECB, IMF) a €10 billion bailout.