Cyprus expanding development projects
Cyprus is currently undertaking development projects to grow several industries that are important to the local economy beginning with long-term investment into expanding the Suez canal and exploring the recently discovered oil reserves. In the health sector, the final steps are being taken to roll out a National Health Service, and the reputation for certain specialist medical procedures is increasing.
In the tourism sector, following an increase of 8.9% industry-wide, larger investments are beginning to attract attention. In 2015, Cyprus was as the top Mediterranean and Europe Wedding Tourism location with over 8,000 weddings and seven new golf courses were opened. And perhaps the most exciting industry news, the newly planned Casino Resort is predicted to increase government revenues by €35 to €50 million.