While Cyprus is a popular tourist destination during summer months, especially among British, Russian, and Scandinavian tourists, but the tiny Mediterranean island nation usually experience a dip in interest in the winter.
The Government of the Republic of Cyprus created earlier this year a dedicated ministry to oversee the nation’s tourism industry. One of the most important tasks before Cyprus’ new Deputy Ministry of Tourism is to craft strategies to effectively combat seasonality and bring foreign tourists to the Mediterranean island nation all year round.
Hong Kong-listed gaming and hospitality giant Melco Resorts & Entertainment believes that it has what Cyprus needs to see an influx of international visitors during the typically less tourism-heavy winter months.
Melco, through its local subsidiaries, is authorized by the Cypriot government to build and operate a luxury integrated resort with dedicated casino gambling floor. The property, currently under development in the City of Limassol, will be the first of its kind not only in the Mediterranean republic but also in Europe.
Combating Seasonality
In a statement celebrating the World Tourism Day last week, an official at Melco’s Cypriot operation said that they with the opening of City of Dreams Mediterranean in about two years from now, they will be able to attract high value customers from all over the world.
Construction of the luxury integrated casino resort kicked off this past April. The property is expected to open doors in late 2021 with a casino, hotel with hundreds of rooms and villas, multiple dining and entertainment facilities, and MICE space, among others.
Craig Ballantyne, Property President of City of Dreams Mediterranean and Cyprus Casinos, Melco’s Cypriot casino brand, said last week that the resort is a “ground-breaking project” that is anticipated to attract an additional 300,000 visitors on an annual basis, thus “having a multiplying effect on the local economy.”
Mr. Ballantyne added that they believe “that the casino, as an alternative form of tourism, will assist in expanding the island’s tourism period thus fighting seasonality and establishing Cyprus as an all-year destination.”
Creating Jobs
Aside from its main resort in Limassol, Melco has also been authorized to operate a chain of satellite casinos around Cyprus. The company has launched three such facilities since late last year – one in the capital Nicosia, one at Larnaca International Airport, and one in tourist-heavy hub Ayia Napa. The final satellite casino is slated to open doors later this year in the City of Paphos.
Mr. Ballantyne said last week that they are focused on providing “quality jobs and in parallel educate potential personnel through our academy, creating opportunities for career advancement within Melco and even the global entertainment industry.”
Melco and its local subsidiaries currently employ 950 people at the three operational satellite casinos and the temporary C2 Limassol casino that opened doors in the summer of 2018 and will remain operational until the launch of the main resort with the main casino floor. That temporary facility currently employs around 900 people. City of Dreams Mediterannean is expected to generate more than 2,000 jobs when operational.
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