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Cyprus Adventure Travel International (CATI) will begin operations in September 2004 and provide adventure and sport/travel packages to people in the area of Mediterranean, specifically the Cyprus area. An opportunity for CATI's success exists because the national tourism and travel industry is growing at 4%, and adventure travel at 10% annually. Further, the Cyprus adventure travel market is growing at least 12% annually and there are no providers who specialize solely in adventure travel in the Cyprus area. CATI is poised to take advantage of this growth and lack of competition with an experienced staff, excellent location, and effective management and marketing.Cyprus is situated in the northeastern corner of the Mediterranean, at the meeting point of Europe, Asia and Africa. Since the dawn of history, Cyprus has been on the most interesting areas of the region and has a rich and visible cultural history. Ancient Greeks, Egyptians and Romans along with Crusaders, Byzantines, Franks and Ottomans have all left a powerful legacy for the modern visitor to see and admire.The Cyprus economy is booming and political stability is firmly established. In Many 2004, Cyprus offici
Adventure travel, which is growing 10% annually, is one of the fastest growing segments of the travel industry. Deregulation has increased the need for differentiation and has, in many cases, lowered the prices of airfare and other travel related services. The largest start-up expense will be for computers. CATI will take advantage of trade shows, travel industry publications, and other sources of industry-related information to monitor the quality of its offering. There also has been a 66% increase in executive participation in adventure travel between 2000 and 2002. Start-up will be financed through the owner's personal investment and a long-term note secured from the Cyprus Hellenic International Bank. Activities most commonly participated in during adventure vacations: camping (85%), hiking (74%), skiing (51%), snorkeling or scuba diving (30%), sailing (26%), kayaking or whitewater rafting (24%), and biking trips (24%). CATI's pricing strategy will be a major consideration. Weaknesses may include high personnel and management turnover and the lack of a clear plan for future growth. fÜ EXPENSES: These will be rent, office supplies, consultant's fees, insurance, utilities, etc. 2 Industry BackgroundThe travel industry is highly fragmented. 1 The company's descriptionCATI is a full service travel agency that specializes in adventure travel and provides recreational and business travelers with professional service and consultation. CATI has approximately 30 immediate competitors in the Southern Cyprus area, including two agencies that are branches of national travel agency chains.
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