**Cyprus Targets Corporate Travel with Revised Incentive Scheme for Conferences**
Cyprus is positioning itself as an attractive destination for corporate travel through a newly announced incentive scheme, which offers up to €35,000 to event organisers who bring conferences and corporate events to the island. This initiative, unveiled by the Tourism Deputy Ministry, is part of a broader strategy to attract high-value visitors and stimulate tourism outside the traditional peak summer months. The scheme is set to run from 2026 to 2029 and encompasses a variety of events, including conferences, meetings, incentive trips, international competitions, and sales workshops.
With an annual budget of €150,000, the new programme aims to provide clarity and financial support to organisers ahead of their events, a significant change from the previous scheme that was in place until 2025. This advance notice of funding is crucial in the competitive conference market, where major international events are often secured through bidding processes that can take place several years in advance. The extended four-year duration of the scheme is designed to align with this reality, offering organisers greater certainty when considering Cyprus as a potential venue for events scheduled as far ahead as 2029.
The financial support available varies based on the type of event. Corporate conferences can receive the highest level of funding, up to €35,000. Non-profit organisations, associations, universities, and other academic institutions can access up to €25,000 for their conferences and meetings. Incentive trips qualify for support of up to €20,000, while international competitions and sales workshops can receive up to €10,000. The amount of funding awarded will depend on several factors, including the economic benefits generated for Cyprus, such as the number of overnight stays associated with the event.
A key requirement of the scheme is that at least 75% of participants must come from abroad for conferences and incentive trips, while international competitions and sales workshops must attract a minimum of 50 overseas participants. Additionally, the programme encourages organisers to include excursions in their event packages, promoting the exploration of Cyprus beyond the conference venue.
This initiative is part of the Cypriot government's broader efforts to diversify tourism and attract visitors during off-peak months. As such, there is additional support for events taking place in January and February, as well as those occurring between November and April in rural, mountainous, remote, and border areas. Extra incentives may also be available for events that promise significant international exposure, particularly those featuring prominent participants or established annual events secured through international bidding.
Eligible applicants for the scheme include both Cypriot and foreign non-profit organisations, associations, institutions, universities, academic organisations, registered professional associations, licensed tourism and travel agencies, and companies involved in organising conference-related events in Cyprus. However, bodies primarily funded by the state budget and meetings that are part of EU-funded programmes are excluded from eligibility.
The scheme will operate under the EU’s de minimis state-aid rules, which permit aid of up to €300,000 to a single undertaking over a three-year period, as outlined in Commission Regulation 2023/2831. The programme is set to formally commence upon its publication in the Official Gazette and will remain in effect until December 31, 2029, with applications being accepted until the annual funding is exhausted. Organisers can submit their applications electronically to the Tourism Deputy Ministry, with additional information available through the Cyprus Convention Bureau.
This new incentive scheme represents a significant shift in Cyprus's approach to attracting corporate events and conferences, with the hope that the extended planning window and clear financial incentives will enhance the island's competitiveness as a destination for international events.