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MEGA PROJECTS that are changing the landscape of Cyprus
Cyprus is one of the fastest growing economies in Europe and in the world , if any proof was needed , recovering from a crippling nationwide financial crisis in just three years should be enough .
WITH A GDP growth of 3.9 %, nominal GDP per capital peaking near € 25,000 , and a declining unemployment rate ( 11 % in 2017 ), a country ranked 23rd in the world in the quality-of-life index , should probably be patting itself on the back , resting on its laurels and enjoying its status , but not the island of Cyprus . This ambitious Mediterranean island has no plans of slowing down , always looking for ways to improve on a land that is blessed by nature and honored throughout time with a rich history that continues to serve the island even today .
Though the island ranks 29 th in the world in the tourism sector , it is however ranked 1st in terms of tourism infrastructure , despite tourism not being the major export or market of the island . Tourism is , however , carving out a very important place in the country ’ s image and economy due to the number of opportunities it brings to the country in terms of foreign investment . Every district and nearly every municipality in Cyprus boasts of a hotel , resort , or historic relic or ground , that will easily make its way to atleast the top 50 of any list that measures beauty or “ must visit ”. The municipalities and resort cities of Ayia Napa , Protaras , and Paralimni are no different , and with new marina projects for the neighbouring municipalities , the towns , as well as the island , are sure to get a big boost and a brand new avenue for more investment and growth .
AYIA NAPA MARINA This mega project got the green light in 2017 and has not looked back since then , with developers promising to deliver the first portion of the project by 2019 . Over a kilometre of shoreline between the Makronissos beach and Ayia Thekla has been carved out for the project , with the engineers using state of the art technology to replace part of the sea with land . The project will cost over € 200 million and will hold about 360berths , 240 dry docks and enough commercial and rentable space for investors . The landscape of the island is basically being changed by this mammoth project that promises nothing but profit and growth .
PROTARAS MARINA In January 2017 , the town of Protaras welcomed the news and signing of their own marina project , with the constructions targeted to take a maximum of three years . The marina will be surrounded by houses , hotels , touristic infrastructure and commercial space while holding at least 300 vessels . The importance of the marinas for both towns will be considerable , both socially and economically , boosting the image and lux of the towns , while raking in investors and new markets , and for towns which have already established themselves as top destinations for tourists , these marquee projects will be the icing on their cake .
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• 2018 EDITION