Key Findings of Ad Effectiveness Survey in the Russian Market - Wave 1 -

1. Key Findings of Ad Effectiveness Survey in the Russian Market- Wave 1 - Prepared for Cyprus Tourism Organization By NOVERNA Consulting & Research Highly confidential document. For use only by CTO

2. Research Parameters Highly confidential document. For use only by CTO

3. Research Parameters • NOVERNA Consulting & Research has been commissioned by the Cyprus Tourism Organization to conduct a quantitative Advertising Effectiveness Survey over 2 research waves, in order to measure the Impact of the advertising campaign for Cyprus in Russia, and to establish the current position of Cyprus as a destination/ potential destination in the Russian market. This document highlights the key findings of the first wave of research. • Geographic Coverage: the survey has covered 5 locations in Russia, namely….. • Moscow, • St. Petersburg • Samara • Ekaterinburg • Novosibirsk • Target Audience: the sample has covered the A/B/C1/C2 social classes aged 20 years + from both genders, and belonging to households with medium to high income, residing in the geographic areas highlighted above. • Sample Size and Structure: a total of 1015 interviews have been conducted in Wave 1. In order to allow for separate analysis of each of the 5 regions, the sample in terms of region was disproportionate to the regional presence in the universe. Hence, at the analysis stage, results have been weighted by region in order to restore full representativeness to the universe of the target audience under scrutiny. Highly confidential document. For use only by CTO

4. Research Parameters • Selection Method: quotas have been set in line with the target group and geographic definition, and as highlighted in the subsequent slide on ‘Sample Structure’ . The sample design in each city has involved a three-stage random sampling plan, where sampling units have been • 1) voting districts - selected with a probability proportional to the unit size (PPS) • 2) households, drawn systematically by random route procedure and one respondent from household selected • 3) selected respondents • Interviewing Method: face to face, interviewer administered fully structured questionnaires implemented at the respondents’ home using CAPI (Computer Assisted Personal Interviewing) have formed the primary research tool. • Fieldwork Dates: Fieldwork for the first wave of research has been conducted in June and July 2011 Highly confidential document. For use only by CTO

5. Sample Size and Structure Highly confidential document. For use only by CTO

6. Key Summary Points Highly confidential document. For use only by CTO

7. Key Summary Points • Cyprus elicits a high spontaneous recall level among the target audience as a holiday destination, within the top 3 destinations, at 33% lagging only behind Turkey (at 60%) and Egypt (at 50%) and far out-performing Thailand (at 25%) , Greece (at 25%) and Italy (at 24%), as well as other destinations in this respect. • Furthermore, the high prominence level of Cyprus is reflected in being the 3rd highest country generally considered for the Year 2011 holidays, once more at 13%, lagging only behind Turkey (at 32%) and Egypt (at 23%), and outstripping all other competitors on this account. Similarly, for future holiday destination consideration Cyprus ranks 3rd, virtually on par with Italy and lagging behind Turkey only, revealing a high aspirational score for Cyprus on this account also. • The high awareness and consideration levels show a marked contrast to historical and past 3 year visiting indicators, on which Cyprus ranks only as the 8th – 9th destination, with strong indications that recent advertising and campaigning has contributed towards the elevation of Cyprus as a high top of mind and preferred destination. Specifically, Cyprus records a very high performance in terms of key advertising recall indicators such as……. • receiving the second highest share of spontaneous advertising recall, at 24% out-performing Egypt (at 18%) and marginally behind Turkey (at 30%). • being virtually on par with Turkey at the Country prompted level Advertising indicator (41% versus 42% for the competitor) . • outperforming the key benchmark competitors Turkey and Croatia with respect to recall of the specific year 2011 ads after prompting, reaching 47% for any Print Ad Recall (of 5 ads tested) and 56% for any TV ad (of 5 ads tested), with country recognition also being high. Highly confidential document. For use only by CTO

8. Key Summary Points • recording a claimed high impact of the advertising in terms of increasing interest to visit Cyprus, outperforming bench-mark ratings of all competitors on this account. • The success to date of the advertising is also reflected in high overall appeal scores and uniqueness evaluation of the campaign, as well as in terms of the key executional aspects of the advertising such as its modern style, its catchiness, its creative imagination, its relevance, its music and colour usage and other aspects. On virtually all these parameters the Cyprus campaign stands among the top 2 campaigns versus the international benchmarks. • With respect to the impact of the campaign on specific perceptions on Cyprus, it is evident that the sun and sea images suggesting a ‘superior sun and sea destination’ and the ‘messages of a relaxing holiday’ are the key tenets communicated to date. • Taking into account both advertising recall and general knowledge on the country, Cyprus is hence positioned in terms of offering a wide range of options and exclusivity, while there is also association with cleanliness and high standard of facilities, a high quality destination and a destination proud to visit – the key competitive framework on this account is formed by Greece, Malta, Spain and Italy. • On the contrary, the association with a strong cost benefit and a ‘high value for money destination’, stands at a weaker – though not negative – level, with these parameters being appropriated more strongly by Turkey and Egypt. Highly confidential document. For use only by CTO

9. KEY FINDINGS Highly confidential document. For use only by CTO

10. GENERAL INDICATORS Highly confidential document. For use only by CTO

11. Spontaneous Recall of Foreign Destination Base: All Respondents (1015) Highly confidential document. For use only by CTO

12. Spontaneous Recall of Foreign Destination Base: All Respondents (1015) Highly confidential document. For use only by CTO

13. Spontaneous Recall of Foreign Destination Base: All Respondents (1015) *only countries with 1% and more are mentioned Highly confidential document. For use only by CTO

14. Spontaneous Recall of Foreign Destination – Moscow TOP 12 COUNTRIES Base: Respondents from Moscow(558) Highly confidential document. For use only by CTO

15. Spontaneous Recall of Foreign Destination – St. Petersburg TOP 12 COUNTRIES Base: Respondents from St. Petersburg (244) Highly confidential document. For use only by CTO

16. Spontaneous Recall of Foreign Destination – Samara TOP 12 COUNTRIES Base: Respondents from Samara (61) Highly confidential document. For use only by CTO

17. Spontaneous Recall of Foreign Destination – Yekaterinburg TOP 12 COUNTRIES Base: Respondents from Ekaterinburg (71) Highly confidential document. For use only by CTO

18. Spontaneous Recall of Foreign Destination – Novosibirsk TOP 12 COUNTRIES Base: Respondents from Novosibirsk (81) Highly confidential document. For use only by CTO

19. Spontaneous Recall of Foreign Destination – 20-24 years TOP 12 COUNTRIES Base: Respondents from 20-34 years (156) Highly confidential document. For use only by CTO

20. Spontaneous Recall of Foreign Destination – 25-34 years TOP 12 COUNTRIES Base: Respondents from 25-34 years (230) Highly confidential document. For use only by CTO

21. Spontaneous Recall of Foreign Destination – 35-44 years TOP 12 COUNTRIES Base: Respondents from 35-44 years (229) Highly confidential document. For use only by CTO

22. Spontaneous Recall of Foreign Destination – 45-54 years TOP 12 COUNTRIES Base: Respondents from 45-54 years (235) Highly confidential document. For use only by CTO

23. Spontaneous Recall of Foreign Destination – over 55 years TOP 12 COUNTRIES Base: Respondents from over 55 years (165) Highly confidential document. For use only by CTO

24. Spontaneous Recall of Foreign Destination – males TOP 12 COUNTRIES Base: All Male Respondents (469) Highly confidential document. For use only by CTO

25. Spontaneous Recall of Foreign Destination – females TOP 12 COUNTRIES Base: All Female Respondents (546) Highly confidential document. For use only by CTO

26. Destination Selection for 2011 Holidays & Other Countries Considered – total level Base: All Respondents (1015) Highly confidential document. For use only by CTO

27. Destination Selection for 2011 Holidays & Other Countries Considered – total level Base: All Respondents (1015) ‘Less mentioned Countries’ Highly confidential document. For use only by CTO

28. Destination Selection for 2011 Holidays & Other Countries Considered – total level Base: All Respondents (1015) Highly confidential document. For use only by CTO

29. Destination Selection for 2011 Holidays & Other Countries Considered – Moscow TOP 10 COUNTRIES Base: Respondents from Moscow (558) Highly confidential document. For use only by CTO

30. Destination Selection for 2011 Holidays & Other Countries Considered – St. Petersburg TOP 10 COUNTRIES Base: Respondents from St. Petersburg (244) Highly confidential document. For use only by CTO

31. Destination Selection for 2011 Holidays & Other Countries Considered – Samara TOP 10 COUNTRIES Base: Respondents from Samara (61) Highly confidential document. For use only by CTO

32. Destination Selection for 2011 Holidays & Other Countries Considered – Yekaterinburg TOP 10 COUNTRIES Base: Respondents from Yekaterinburg (71) Highly confidential document. For use only by CTO

33. Destination Selection for 2011 Holidays & Other Countries Considered – Novosibirsk TOP 10 COUNTRIES Base: Respondents from Novosibirsk (81) Highly confidential document. For use only by CTO

34. Destination Selection for 2011 Holidays & Other Countries Considered – 20-24 years TOP 10 COUNTRIES Base: All Respondents 20-24 years (156) Highly confidential document. For use only by CTO

35. Destination Selection for 2011 Holidays & Other Countries Considered – 25-34 years TOP 10 COUNTRIES Base: All Respondents 25-34 years (230) Highly confidential document. For use only by CTO

36. Destination Selection for 2011 Holidays & Other Countries Considered – 35-44 years TOP 10 COUNTRIES Base: All Respondents 35-44 years (229) Highly confidential document. For use only by CTO

37. Destination Selection for 2011 Holidays & Other Countries Considered – 45-54 years TOP 10 COUNTRIES Base: All Respondents 45-54 years (235) Highly confidential document. For use only by CTO

38. Destination Selection for 2011 Holidays & Other Countries Considered – over 55 years TOP 10 COUNTRIES Base: All Respondents over 55 years (165) Highly confidential document. For use only by CTO

39. Destination Selection for 2011 Holidays & Other Countries Considered – Male TOP 10 COUNTRIES Base: All Male Respondents (469) Highly confidential document. For use only by CTO

40. Destination Selection for 2011 Holidays & Other Countries Considered – Female TOP 10 COUNTRIES Base: All Female Respondents (546) Highly confidential document. For use only by CTO

41. Destinations Visited in the Past – total level Base: All Respondents (1015) ‘Most mentioned Countries’ Highly confidential document. For use only by CTO

42. Destinations Visited in the Past – total level Base: All Respondents (1015) ‘Less mentioned Countries’ Highly confidential document. For use only by CTO

43. Destinations Visited in the Past – total level Base: All Respondents (1015) ‘Less mentioned Countries’ Highly confidential document. For use only by CTO

44. Destinations Visited in the Past – Moscow TOP 10 COUNTRIES Base: Respondents from Moscow (558) Highly confidential document. For use only by CTO

45. Destinations Visited in the Past– St. Petersburg TOP 10 COUNTRIES Base: Respondents from St. Petersburg (244) Highly confidential document. For use only by CTO

46. Destinations Visited in the Past– Samara TOP 10 COUNTRIES Base: Respondents from Samara (61) Highly confidential document. For use only by CTO

47. Destinations Visited in the Past– Yekaterinburg TOP 10 COUNTRIES Base: Respondents from Yekaterinburg (71) Highly confidential document. For use only by CTO

48. Destinations Visited in the Past– Novosibirsk TOP 10 COUNTRIES Base: Respondents from Novosibirsk (81) Highly confidential document. For use only by CTO

49. Destinations Visited in the Past– 20-24 years TOP 10 COUNTRIES Base: All Respondents 20-24 years (156) Highly confidential document. For use only by CTO

50. Destinations Visited in the Last 3 Years – 25-34 years TOP 10 COUNTRIES Base: All Respondents 25-34 years (230) Highly confidential document. For use only by CTO