Cyprus is one of the most popular destinations in Europe and tourism levels have been predicted to have a 5% annual increase rate for the next ten years. With its fantastic beaches, lively night life, tradition and culture all very present, Cyprus offers something for everyone attracting a variety of people to the island every year. It is one of the very few places in the world in which in March and October is it possible to ski in the mountains in the morning and swim in the sea in the afternoon.
Its strategic location has been a very important factor in its development into a major business center for International (offshore) businesses from all around the world. The third largest island in the Mediterranean, its privileged location in the Eastern Mediterranean finds Cyprus being a crossroads between European countries, Asia and Africa. Its surrounding countries include Greece, Turkey, Syria, Lebanon, Israel and Egypt. With two international airports and a number of ports and marinas, international transportation has never been more simplified.
Cyprus became a member of the European Union on May 1st 2004 and adopted the Euro as its currency on January 1st 2008. The significant level of investment from the EU into Cyprus has helped the Larnaca area in particular. Some of the changes include the new airport (which should be ready by the end of this year), as well as many future plans which include the extension of the entire port area, including commercial marinas and new luxury golf course. Thus all making the area the next hot spot for property investment in Cyprus.
With its strong and stable economy, Cyprus offers a very high quality of life at a very low cost of living.