During 2023, guests spent 678.6 million nights in short-term rental accommodation in the EU booked via Airbnb, Booking, Expedia Group or TripAdvisor, which corresponds to a 13.8% increase compared with 2022 (596.5 million), according to data published by Eurostat. This data, collected by the four online platforms, is shared in accordance to an agreement with […]
With its profound Buddhist roots, Cambodia holds immense potential as a sanctuary for spiritual tourism. This potential is notably enriched by its historical ties to spiritual practices not only within its borders but also through historic ties with countries like India, Indonesia and other neighbouring nations in Asia. The travel and tourism market in Cambodia […]
The Ministry of Tourism (MoT) in collaboration with the Small and Medium Enterprise Bank of Cambodia (SME Bank) early this week launched financial schemes aimed at providing tourism business owners to develop or expand their operations in Siem Reap province. The launch of the ‘Tourism Financing Scheme for Siem Reap – TFSS’ was focused on […]
The scope of the master plan to turn the Preah Sihanouk province into a Multi-Purpose Model Special Economic Zone has been extended to cover the development of an economic corridor for all four coastal provinces following the advice of Prime Minister Hun Manet. “The master plan has received the highest guidance from the Prime Minister […]
The Cyprus Association of Nursing Home Owners has decided to become a member of the Cyprus Chamber of Commerce and Industry (Keve), according to a statement released this week. According to the announcement, the primary objective of this decision “is to elevate and refine the standards of care provided in more suitable and dignified living environments for the elderly facing health issues, […]
The Neocleous Tower, an office building located in the centre of Limassol, will set new standards for environment-focused, commercial real estate in Cyprus. ‘Our idea to develop a ‘green’ sustainable building originates from a deep awareness of the growing concerns about global climate change and the depletion of our natural resources’ The Neocleous Tower, an […]
BusinessCyprus Business News Applications open for Cyprus Exports Award By Kyriacos NicolaouApril 3, 20240 Comments138SHARE0 The Cyprus Chamber of Commerce and Industry (Keve) in collaboration with the Ministry of Energy, Commerce, and Industry this week announced the start of applications for the latest edition of the Cyprus Exports Award. “The Cyprus Exports Award was launched in 1982 to recognise and reward […]
BusinessCyprusCyprus Business NewsCyprus by the Numbers Cyprus retail trade grows in February By Souzana PsaraApril 3, 20240 Comments73SHARE0 Cyprus’ retail trade cycle value index experienced a notable increase of 5.8 per cent in February, compared to the corresponding month in 2023, according to a report released on Wednesday by the Cyprus Statistical Service (Cystat). Similarly, during the […]
The average gross monthly earnings of employees during the fourth quarter of 2023, amounted to €2,693 compared to €2,535 during the fourth quarter of 2022, recording an increase of 6.2%, according to provisional data published by CySTAT. The average gross monthly earnings during the fourth quarter of 2023, seasonally adjusted, are estimated at €2,402 and compared […]
The accommodation and food services sector in Cyprus had the second biggest contribution to the economy as well as to employment in 2021, according to data released by Eurostat. In 2021, the country where the accommodation and food service activities had the highest contribution to the value added of the business economy was Greece (6.5% […]
Τhe Cyprus government will request from Greece’s Independent Power Transmission Operator to carry out a cost-benefit study as regards the Cyprus-Greece electricity interconnection (Great Sea Interconnector), Energy Minister George Papanastasiou said following a House Energy Committee meeting. Papanastasiou explained that the project, with a total value of €1.9 billion, was previously under a different implementation […]
The goal of the Ministry of Agriculture, Rural Development and Environment is to increase the share of the primary sector in the country’s GDP, expand and upgrade the sector in terms of sustainability to meet domestic needs and promote local Cypriot products to new markets. Minister Maria Panayiotou noted the above at a 2 April […]
Cypriot Energy Minister George Papanastasiou announced on Wednesday that the obstacles in the development plan for the Aphrodite gas field have been overcome, marking progress in Cyprus’ energy ambitions. Papanastasiou revealed that ENI’s CEO is scheduled to visit Cyprus by the end of April to discuss the Cronos I and Cronos II fields, with hopes […]
The Japan-Cambodia Association office, officially inaugurated on Monday in Phnom Penh, will play an important role in attracting more Japanese businessmen and investors to Cambodia, said Heng Sour, Minister of Labor, Vocational Training (MLVT). Presiding over the official inauguration ceremony of the Japan-Cambodia Association Office, Sour said the establishment of the Japan-Cambodia Association Office in […]
“The success of investors is also the success of Cambodia,” said Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia (CDC), as a guest speaker at a panel discussion themed “Cambodia – Gateway to ASEAN.” The panel discussion was organised on April 2 as part of the […]
A multilayered matrix of goals and actions gives Hellenic Bank the lead in ESG strategy Committed as it is to promoting environmental sustainability and social resilience, Hellenic Bank has taken the lead in ESG strategies. By setting a high bar for its goals and implementing a series of best practices, Hellenic Bank leads the way […]