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TUI's leading role in Cyprus after Thomas Cook's collapse
February 28, 2020
Cyprus’ tourism industry strongly depends on overseas giant travel and tourism companies considering that some 60% of arrivals over the recent past years are on package holidays, Phileleftheros reports.
Last year’s collapse of Thomas Cook was a huge blow to Cyprus since the British giant used to fly over 5% of visitors annually, corresponding to about 250,000.
But after its bankruptcy, Hanover-based TUI Group has taken up a leading role in the Mediterranean island’s tourism industry. And the travel and tourism company wants to increase its share of tourists from both the British and Russian markets this year.