Cyprus Tourism: PEST Analysis

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Cyprus Tourism PEST(Le) Political In Cyprus, there are significant divisions between the Greek Cypriots and the Turkish Cypriots. This creates a level of political instability among the countries represented officials. Therefore there is a level of regional instability that is driven by these two groups. However, by world comparisons, the country is still considered relatively stable. Figure 1 - Political Summary (AMB, 2011) Economic The economy is Cyprus is largely dependent on tourism and related activities. Any political instability also has the potential to significantly affect tourist activities and exacerbate financial problems (Georgiou, 1998). Acceptance in the European Union has worked to stabilize the economy as the Cyprus Banks weathered the Global Recession fairly well; however, there is still concern over exposure to Greek Debt (AMB, 2011). Figure 2 - Risk Summary (AMB, 2011) Social Cypriots have number of social developments. One is that the population has become more materialistic as they have adopted Western Culture. Another striking social movement is the strength of the Communist Party, which is highly organized and well represented in defense of workers' rights (Apadakis, 2006). Technological Science and technology is Cyprus is rapidly developing, however remains far below that of much of the modernized world (Maps of the World, 2012). Much of the investment in science and technology is focused on environment, water issues, and energy.

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