Collapse of German travel group a blow to Cyprus tourism
The bankruptcy of German travel giant FTI Group has caused a potential shortfall of 30,000 bookings for Cyprus’ tourism industry. Hoteliers are facing uncertainty as tens of thousands of future bookings are at risk due to FTI’s collapse. The German market, an important source for Cypriot tourism, is further impacted by this situation, which could also affect Austria and Switzerland where the group operated.