Cyprus’ economy expanded by 3.0% year-on-year in the first quarter of 2025, according to a flash estimate released by Cystat. The seasonally and working day adjusted GDP also recorded a 3.0% annual increase. On a quarterly basis, the economy grew by 1.3% compared to the fourth quarter of 2024, showing an acceleration from the previous […]
Tourist arrivals reached 418,730 in April 2025 compared to 333,563 in April 2024, recording an increase of 25.5%, according to data published by CySTAT. Arrivals from the United Kingdom were the main source of tourism in April 2025, with a share of 36.3% (151,883) of total arrivals, followed by Israel with 15.2% (63,474), Germany with 7.1% […]
Minister of Energy George Papanastasiou travelled to Doha this week to represent President Nikos Christodoulides at the Qatar Economic Forum, taking place from May 20 to 22. According to a statement from the Ministry of Energy, Papanastasiou met on Tuesday with Qatar’s Minister of Commerce and Industry, Sheikh Faisal Thani Al Thani, on the sidelines of […]
President Nikos Christodoulides on Tuesday welcomed the European Commission’s latest economic forecast, describing it as a “clear endorsement of Cyprus’ resilience, stability and prudent policymaking”. Speaking during the opening of a cabinet session at the Presidential Palace, Christodoulides said the Spring 2025 Economic Forecast, released by the European Commission on Monday, “is particularly important, even more […]
Cyprus residents made 164,844 trips abroad in April, marking a 24.1 per cent increase compared with the 132,806 trips recorded in April of last year, according to data released by the statistical service on Monday. The rise in travel activity was attributed to the rare overlap of Orthodox Easter, Catholic Easter and Jewish passover, which fell within the same period, significantly […]
Cyprus is moving ahead with its first affordable rental housing scheme, with construction on the initial phase of a new development in Limassol expected to begin by June, according to the Cyprus Land Development Organisation (Koag). The ambitious project, a collaboration between Koag and the Limassol municipality, will see the creation of a small residential community in […]
Debt-to-GDP ratio to fall below 60 per cent in 2025 Cyprus’ economy is expected to continue growing at a robust pace in 2025 and 2026, according to the European Commission’s Spring 2025 Economic Forecast released on Monday. Specifically, growth is expected to reach 3 per cent in 2025 and moderate slightly to 2.5 per cent in 2026. The commission explained that this expectation is […]
Digital push and tourism key in India-Cyprus-Greece collaboration A new chapter in trilateral economic relations between India, Greece, and Cyprus was officially opened on Friday with the launch of the India-Greece-Cyprus Business and Investment Council (IGC) in Limassol. The event, held under the auspices of Eurobank and attended by senior government officials, diplomats, and business […]
Prince Bank Plc. is proud to announce that it has once again been named the winner of the “Best Corporate Governance” award by International Finance Magazine in 2025, marking its second win, following its first recognition in 2023. This back-to-back honour reaffirms the Bank’s steadfast commitment to transparency, ethical conduct, and excellence in corporate governance. […]
Signs of human activity dating back to the first millennium BC on the western terrace of the Amathus Acropolis in Limassol were revealed by recent excavations, the department of antiquities said on Tuesday. Archaeologists uncovered building remains and pottery fragments beneath layers of collapse at two separate points. New findings suggest the western terrace of […]
The Mediterranean island of Cyprus offers much more than a good beach holiday, with vineyards, mountain hiking trails and ancient sites to discover An island rich in historic sites, unique cuisine and charming coastal resorts, Cyprus continues to uphold its reputation as an island that can cater to every type of traveller. The sparkling crystal Mediterranean Sea […]
Cyprus has emerged as one of the standout performers in European tourism at the start of 2025, recording a 15.4 per cent increase in international arrivals compared to the same period last year. This growth reflects a broader trend across Southern and Mediterranean Europe, where warmer climates and rising interest in off-season travel continue to draw tourists despite a […]
Despite high expectations and a visually striking performance by Theo Evan, Cyprus failed to qualify for the grand final of the Eurovision Song Contest 2025. The result came as a shock to many viewers and Eurovision fans. The Cypriot entry, “Shh,” had generated strong momentum ahead of the contest, with bookmakers and fan polls predicting […]
Larnaca has begun work on what is expected to become one of Cyprus’ most important cultural landmarks, a €30 million Art and Design Centre set to be completed by 2030. Designed by world-renowned British firm Foster and Partners, the project will also include the Museum of People and serve as the flagship of the city’s European Capital of […]
Cyprus is setting its sights on joining the Schengen zone by 2026, President Nikos Christodoulides announced on Sunday, pledging that all the necessary groundwork will be wrapped up by the end of next year. Speaking at an event in Nicosia, the president made it clear that the goal isn’t just a wish, it’s a national […]
A total of 110 palm trees have been planted along the seafront on Castella beach in Oroklini, the Larnaca municipality and tourist board announced on Monday. The aim is to render Larnaca beaches more attractive, by making them aesthetically pleasing and lending them a comparative advantage. The Washingtonia palm trees are of the same variety […]