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11 December, 2024
 
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Limassol’s growth deserves equal support

Addressing the imbalance in state funding to sustain Cyprus’s economic engine.

Opinion

Opinion

By Fotini Tsiridou*

Who is driving development projects in Limassol, and how far have they progressed? Who decides how state development funds are allocated, and based on what criteria? These are pressing questions that linger unanswered, while evidence continues to reveal a consistent bias in the distribution of state development resources — leaving Limassol with far less than it rightfully deserves.

I addressed this issue publicly in late October and followed it up with a parliamentary question to the relevant authorities. Today, I return to the matter because I believe this issue is too important to ignore. The inequality must be highlighted and corrected.

Limassol: A Pillar of Cyprus, Yet Undervalued

Limassol is not only the economic engine of Cyprus; it has become a symbol of modern living, striking a harmonious balance between tradition and progress. It combines the timeless beauty of the sea and the Troodos mountains, weaving together traditional industries, high-tech innovation, and everything in between — from fishing to hosting the largest commercial port in the Eastern Mediterranean.

On the international stage, Limassol has established itself as a recognized "brand," comparable to prominent cities abroad, even rivaling European capitals. Remarkably, it has achieved this without the advantage of being the capital city. Limassol has the glory and the reputation, but it lacks the resources and infrastructure that reflect its contributions.

Despite its critical role in driving the nation’s progress, Limassol continues to be treated as the "poor relative" in terms of state resource allocation. This unfair treatment is longstanding, and, disappointingly, it shows no signs of change.

A Disparity in Development Funding

The stark inequality in public investment is clearly visible in state development budgets. In the 2024–2025 projections, Limassol is allocated a disproportionately small share of funds compared to its contributions to the country’s GDP, population, and economic weight:

- Roadworks: Out of nearly €500 million earmarked for road infrastructure, Limassol receives just €49 million — only about 10%.
- Building projects: Of €330 million allocated for construction projects, Limassol gets a mere €18.4 million (5.6%) to fund just four projects.

These figures illustrate the imbalance and highlight the urgent need for rectification.

Neglect Could Undermine Limassol’s Success

Limassol has grown into a global hub for businesses, a leader in shipping, tourism, real estate, and high-tech industries, and a city renowned for its exceptional quality of life. Yet this success is not guaranteed. Without substantial investment in public infrastructure, the city risks losing its appeal as a vibrant business and lifestyle destination.

Take traffic congestion, for example — a persistent problem that impacts residents and visitors daily. Infrastructure improvements, from better roads to cultural enhancements like museums and theaters, are essential. If neglected, Limassol could see its competitiveness erode, making it less attractive to businesses and families alike.

Private Initiative Leading the Way

Limassol’s progress to date has been largely driven by private initiative, not state investment. While the state reaps significant benefits from the city’s output, it returns only a fraction of what is deserved. This imbalance is unsustainable and must be addressed immediately.

A Call to Action

This is not a matter of political rivalry or party politics; it is about fairness and necessity. As a Member of Parliament representing Limassol, I consider it my duty to fight for the city and its residents. Together with other stakeholders, we must:

- Bring the infrastructure and projects to Limassol that its residents need and deserve.
- Build modern, efficient systems that will support its continued growth.
- Give Limassol the resources and vision required to remain Cyprus’s most dynamic and prosperous city.

This is not just about fairness; it’s the only logical path forward. Supporting Limassol means supporting Cyprus’s economic engine — a city that has proven its worth and continues to drive the nation’s growth.

*Fotini Tsiridou is a DISY Member of Parliament for Limassol.

[This op-ed was translated from its Greek original]

TAGS
Cyprus  |  Limassol  |  business

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