Famagusta reconstruction is one and sure way out of any future economic slump precisely because it is NOT a tourist development.
The very word development is a contradiction in terms, considering it usually is nothing more than the degradation of land and habitats simply so some weasel can sell unplanned and problematic dwellings to foreigners.
Famagusta is a city, which has a plan, and its own financing, ie the owners of properties who will take secured loans to rebuild their houses inorder to inhabit them. It is not a tourist "development". The reconstruction is the biggest civil engineering project in the history of Cyprus and one of the biggest in the world. If our politicians had brains they would realise the boost the reconstructin can give to the economy of the whole island, north and south. Perhaps if we have a huge slump in the "tourist industry" (another oxymoron which aims to turn everyone of us into a waiter or chamber maid), we might start getting out of the impasse by starting with the rebuilding of Famagusta.
There is simply not enough manpower in the south to undertake the rebuilding. Turkish Cypriot architects and builders will have to be employed in the reconstruction. The accomodation alone will give you a clue- count on 20 000 apartments at 100 sq.meters each at 2000 Euros per sq.meter. That accounts for the dwellings, now add the infrastructure like roads, electricity and phone lines, drains etc and you get an idea of ths size of this project. And then there are the peripherals like furniture and fixtures etc. I deliberately left the tourist installations out because they are not relevant to the economics at this point.
There are some weird remarks in this forum like "we control it" etc. This approach is nonsense. The empty town will reduce the displaced persons by a third thereofre decrease pressure on the north re properties. It will not reduce the ground held by Turkish Cypriots by one single meter. It does not change the military situation in favor or against anyone. It provides employment for more than a quarter of the north's labor force. Not returning Famagusta to its legal owners is monumental stupidity.