The Radisson Hotel Group is to open a string of new properties in Cyprus, according to a press release published on Friday. 

The European Commission expects the economy of Cyprus to grow by 3.2% and 3.1% for 2021 and 2022 respectively, against a recession of 5.8% for 2020, according to its winter economic forecasts published today in Brussels.

The summer season is looking good for Cyprus, as tour giant TUI said advance holiday bookings for the island and Greece are expected to take-off, as German tourist regain their confidence to travel.

Low-cost airline Ryanair on Thursday launched its Winter 2021-22 schedule, covering its most popular destinations for trips taking off from late October with Cyprus on the map.

The House of Representatives on Thursday passed a law levying a 0.4% tax on all sales of immovable property, the proceeds of which to go toward supporting Greek Cypriot refugees.

In light of the end of the transition period for the UK’s Withdrawal Agreement from the EU, the Tax Department of the Republic of Cyprus has made the following announcements in relation to VIES and INTRASTAT Declarations:

Salary benchmarking is the process used by a business to identify, track, and compare similar salary rates to determine the pay package for their employees. In terms of HR, salary benchmarking is essential for comparing the pay and benefits on offer against those offered by competitors.

While many hotel groups have put their development plans on hold, Radisson Hotel Group has announced it is forging ahead with an ambitious five-year plan that includes opening a second property in Larnaca by the summer of 2021, and breaking ground in the next few months to build the island’s first branded serviced apartments, also in Larnaca. Another flagship property is planned in Nicosia, to be operated by Sunnyseeker Hotels under a franchise agreement.

Cyprus’s successful handling of the Covid-19 pandemic has put the island in a prime position to attract companies looking for a European base to access EU markets, an international summit was told.

Cyprus has made “significant” progress towards in attracting foreign direct investment into its tourism and hospitality sector, but more investment is needed in key areas, a conference was told.