All-packed, Cyprus may have disappeared from US headlines, but the financial crisis continues. That said, tourism is vitally important here, and I would encourage you to visit. Unfortunately, because of the Euro being their currency you're not likely to find things much cheaper than Europe in general, but the hospitality industry is going out of their way to cater to vacationers. English is the second language here so no big problems with communication. In general, Cypriots are warm and gracious to visitors. Yes, there are still big issues between the Greek Cypriots (mostly in the Republic of...) and the Turkish Cypriots (mostly in the north), but since they are almost entirely segregated there is no violence. The Rough Guide to Cyprus has a good intro to the issues behind the partition. On the plus side are many beautiful and historic sights, (including UNESCO World Heritage Sites), wonderful beaches, great food, all in a relatively compact place. It's a great place to visit.