1) It's expensive. Greek industry itself has moved to the balkans, and china. Many greek businesses run through cyprus to survive (low tax). 2) laws not being

1) It's expensive. Greek industry itself has moved to the balkans, and china. Many greek businesses run through cyprus to survive (low tax). 2) laws not being enforced in places where they should. 3) lets just say, the greeks have been spoiled by a decade of easy lending and dont have the greatest work ethic. 4) Many hotel chains have been sold in the past decade. Tourism doesn't make as much as you think.