The bankruptcy of the German tourist group FTI was described by the Deputy Minister of Tourism, Kostas Koumis, as a negative development for the tourism of Cyprus. He notes, however, that the volume of losses in terms of arrivals is not particularly large.
"This is definitely a negative development for the tourism of our country, as it comes at a time when we were trying to strengthen the German market and in addition because every loss now counts due to the pressures that the hotel industry receives more broadly", says in a written statement Deputy Minister of Tourism.
He points out at the same time that the volume of losses in terms of total arrivals for Cyprus tourism is not particularly large.
"However, it is certainly a serious loss for the hotel companies that had cooperation with this particular Travel Organiser", he adds.
He also mentions that the Deputy Ministry is in communication with hotelier associations, and together they are making an accurate assessment and management of the situation.
Furthermore, the Deputy Minister states that the financial problems of the specific group were known to the tourism community, although last April there were hopes for the normalization of the problems, a consequence of the possible entry of a well-known American consortium of investors into the group. However, he adds, for a number of reasons this did not have a positive outcome.