Cyprus has recently unveiled what is being hailed as the largest casino resort in Europe. The project aims to transform the island nation in the eastern Mediterranean into a year-round destination for high-end tourists, as reported by AP this month. The City of Dreams Mediterranean, costing an impressive 600 million euros ($659 million), stands as one of the most significant construction projects in Cyprus’ history.
The casino resort will encompass a fourteen-story, 500-room hotel with a grand casino and state-of-the-art sports facilities. A family adventure park and the island’s largest pool complex are two highlights of the property’s plans. Others include an outdoor amphitheater, eight exquisite dining and drinking establishments, and a modern conference center.
Lawrence Ho, the chief executive of Hong Kong-based Melco Resorts and Entertainment, expressed his enthusiasm for the resort. Ho told the AP that it “allows Cyprus to unlock new markets in the region and beyond.”
Boost in Tourism
Cypriot officials anticipate the creation of approximately 6,500 job opportunities and a significant boost in tourism. Officials estimate attracting an additional 300,000 visitors to Cyprus annually. The country’s official estimate is that the resort will generate hundreds of millions of euros in revenue each year. This development comes as Cyprus, like many other tourist-dependent nations, recovers from the pandemic, which significantly impacted visitor numbers.
Cyprus witnessed a decline of around 900,000 Russian tourists annually due to sanctions imposed after Russia’s invasion of Ukraine. However, the government remains hopeful that the resort will attract tourists from diverse regions, thanks to its sustainable strategies and allure.
Grant Johnson, the Resort Property Manager, is confident that the combination of Melco’s name recognition and expertise in the gaming and entertainment industries, along with Cyprus’s renowned hospitality, will create a winning formula for tourists. “Cyprus is now ready to compete across Europe and the Middle East in luxury tourism and large-scale conferences,” he stated.