Larnaca’s economy has been growing since 1975,[citation needed] after the loss of the Port of Famagusta, which handled 80% of general cargo, and the closure of Nicosia International Airport, meant that Larnaca’s airport and seaport had increasingly important roles in the economy of the island. A €650m upgrade of Larnaca Airport has been completed.
The service sector, including tourism, employs three-quarters of Larnaca’s labor force.[citation needed] Many travel and tour operators and other travel-related companies have their head offices in Larnaca.