The official name of the newly founded organisation is International Sports and Tourism Organisation for Peace & Prosperity (ISTO for P&P), and was founded in the framework of a trilateral meeting between Savvas Perdios, deputy minister of tourism, Cyprus, Elena Kountoura, minister of tourism, Greece and Avedis Guidanian , minister of tourism Lebanon.

“The main objective of the organisation is to promote global peace and prosperity through sports and tourism, factors that inspire and mobilise a large part of the world’s citizens. Among other things, the organisation will also promote sustainable development, social cohesion, gender equality and economic cooperation,” Perdios said.

The Organisation will be based in Athens and upon its establishment it will be placed under the World Tourism Organisation of the United Nations.