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Cyprus’ New Tourism Initiative: The “Historic Hotels Of Cyprus” Label

by THEFUTURE.TEAM

June 10, 2024

In a bid to enhance its tourism appeal, the Deputy Ministry of Tourism in Cyprus has introduced the “Historic Hotels of Cyprus” label. This initiative aims to identify and promote hotels and tourist accommodations that possess significant architectural and historical value.

Aims and Objectives

The primary goal of the “Historic Hotels of Cyprus” label is to enrich the island’s tourism product by highlighting establishments that embody the rich historical heritage of Cyprus. By doing so, the initiative seeks to improve Cyprus’s image as a tourist destination, preserve its architectural heritage, and boost local economic development.

Criteria for Classification

To qualify for the “Historic Hotels of Cyprus” label, an establishment must meet several criteria. The building or part of it must be at least fifty years old and feature architecture representative of its original period of construction. Additionally, hotels must exhibit items of historical significance, such as furniture, artworks, and heirlooms, and offer menus that include traditional Cypriot dishes and drinks.

Applicants must hold a valid license from the Deputy Ministry of Tourism or comply with relevant legal provisions. The label, valid for three years, mandates ongoing compliance with these criteria, ensuring that these historic establishments maintain their unique charm and historical integrity.

Economic and Cultural Impact

This initiative not only aims to attract tourists seeking unique, culturally rich experiences but also catalyzes the preservation of Cyprus’s architectural and cultural heritage. By promoting hotels that reflect the island’s history, the Deputy Ministry of Tourism hopes to create a distinct niche within the hospitality sector that can draw visitors year-round, thereby supporting sustainable tourism and economic stability.

Strategic Importance

For business professionals and entrepreneurs, the “Historic Hotels of Cyprus” label presents an opportunity to invest in and develop properties with historical and cultural significance. Such investments can enhance the tourism sector’s diversity and appeal, attracting a broader range of visitors interested in heritage and culture.

Toyota’s Global Production Declines For 10th Consecutive Month, Yet Sales Show Growth

by THEFUTURE.TEAM

December 26, 2024

Despite a consistent drop in global production, Toyota Motor reported an uptick in worldwide sales for the second month in a row, driven by strong demand in the United States and China.

In November 2024, Toyota’s global output fell to 869,230 vehicles, a 6.2% decrease compared to the same month the previous year. This decline was steeper than the 0.8% drop observed in October.

The company’s production in the U.S. dropped by 11.8%, showing slow recovery. However, the production of models like the Grand Highlander and Lexus TX SUV resumed after a four-month hiatus in late October.

In China, Toyota’s production decreased by 1.6%, a smaller drop compared to the previous month’s 9% decline. The company benefited from higher local sales of models such as the Granvia and Sienna minivans, as well as the electric sedan bZ3, developed jointly with BYD.

As Chinese automakers like BYD gain ground, Toyota has decided to establish an independent plant in Shanghai and plans to start manufacturing electric vehicles for its Lexus luxury brand by 2027, according to a report from Nikkei.

Production in Japan, which accounts for about a third of Toyota’s global output, was down 9.3% in November. This was partly due to a two-day production halt at the company’s Fujimatsu and Yoshiwara plants.

Despite the production challenges, Toyota saw a 1.7% increase in global sales, reaching 920,569 vehicles in November, setting a new record for the month. However, for the period from January to November 2024, global production fell by 5.2% year-over-year, totalling around 8.75 million vehicles. During the same period, global sales declined by 1.2%.

These figures include Toyota’s Lexus brand but exclude sales from its group companies, Hino and Daihatsu.