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SOAC: Careful Management of Cyprus's Image Amidst Crisis

Published March 18, 2026, 12:14
SOAC: Careful Management of Cyprus's Image Amidst Crisis

The president of the Cyprus Council for Economy and Competitiveness (SOAC), Dimitris Georgiades, emphasized the need for careful management of Cyprus's international image amidst heightened geopolitical tensions in the Middle East. He also highlighted the limited room for intervention in energy costs and the need for fiscal prudence. Mr. Georgiades warned that statements or images associated with warships or military bases could create a sense of insecurity abroad, even without that being the intention. He proposed sending a clear message to countries of origin of visitors that Cyprus remains a safe destination, with the assistance of professionals. Referring to energy, he noted that Cyprus did not move forward in time with investments in renewable energy sources or measures to reduce costs. As a result, the room for reaction today is limited. Taxation is the main tool remaining, but its effectiveness is limited and may create fiscal problems. At the same time, Mr. Georgiades highlighted opportunities for Cyprus, such as developing into an energy hub and leveraging its geographical position to develop transit trade. Maintaining air connectivity is also crucial, as reducing flights may be difficult to reverse.