Larnaca is experiencing a remarkable boom in tourism-related development, with dozens of new projects under way or awaiting approval, reflecting its growing appeal among both domestic and foreign investors. According to Politis, data from the Larnaca District Organisation of Local Government (EOA Larnaca) show a sustained rise in applications for tourism developments over the past three […]
Domestic production accounted for €33.71 trillion (91.5 per cent of the total supply of goods and services in the EU) in 2023, while imports contributed €3.14 trillion (8.5 per cent), according to Eurostat. This marked an increase in domestic production of €1.25 trillion (up from €32.45 trillion, 90.3 per cent of total supply) compared with 2022, while imports fell by €330 billion (down […]
Cyprus is gearing up for another strong tourism year, setting out a €74.6 million budget for 2026 that puts sustainability and year-round growth at the heart of government policy. Presenting the figures before the House Finance Committee, Deputy Minister of Tourism Kostas Koumis said the budget reflects a clear shift from a numbers-driven model to […]
Tourism Deputy Minister Kostas Koumis held a series of meetings in Brussels earlier this week, with a focus on the sustainability, competitiveness, and resilience of the European tourism ecosystem, ahead of the Cypriot Presidency of the Council of the EU in the first half of 2026. According to an announcement released on Friday, Koumis held successive meetings with Magda […]
Cyprus launched the International Maritime Tourism Festival 2025 this weekend at Ayia Napa Marina, with President Nikos Christodoulides pledging to make the island a leading maritime tourism hub in the Eastern Mediterranean and Middle East. “Our vision is for Cyprus to become a leading maritime tourism hub in the Eastern Mediterranean and the Middle East,” […]
Tourism in Cyprus is expected to once again achieve record performance in 2025, while for 2026 Nicosia is optimistic that the positive trend in tourism will continue, the island’s Deputy Minister of Tourism Kostas Koumis said on Friday during the discussion in the Parliamentary Committee on Finance regarding next year’s budget of the deputy ministry. […]
The Ministry of Agriculture, Rural Development and the Environment has announced that it is providing new opportunities to enhance the presence and exports of Cypriot wines in markets outside the European Union, through the Strategic Plan for the Common Agricultural Policy (CAP) 2023–2027. In a press release, the Ministry said that this action, implemented by the Department of Agriculture in collaboration with […]
The strategic importance of Ayia Napa Marina for the development of the free Famagusta district and the promotion of maritime tourism in the Eastern Mediterranean was highlighted by Chief Marina Officer Costas Fitiris as he addressed the International Sea Tourism Festival 2025 (ISTF). Fitiris welcomed attendees, noting that the presence of the President of the Republic […]
, excellent relations with neighbouring countries, and above all, our safety, make Cyprus a uniquely attractive destination,” he said. He noted that even though part of the island remains under Turkish occupation for over five decades — including 420 kilometres of coastline — the Republic continues to capitalise on the natural beauty and maritime wealth […]
Jefferies has reaffirmed its positive outlook on Greece’s two largest banks, the National Bank of Greece (NBG) and Eurobank, ahead of their upcoming third-quarter 2025 financial results. The investment firm raised its price target for NBG to €15.50 from €13.55 and for Eurobank to €4.15 from €3.70, maintaining a “Buy” recommendation on both lenders. Jefferies said the two banks are entering the final quarter […]
Passenger traffic at Larnaca and Paphos airports surpassed 10 million in the first nine months of 2025, marking a new record for Cyprus’ aviation sector. According to new data from Hermes Airports, a total of 10.7 million passengers travelled through the island’s two international airports between January and September, 7.7 million through Larnaca and 3 million through Paphos. For the sixth consecutive […]
The unavoidable imperative of strategic investment The capital divide The economic history of Cyprus is a tale of resilience, often defined by its agile recovery from external shocks and its strategic location. Yet, the demands of the modern global economy, characterised by rapid technological disruption and acute geopolitical uncertainty, require more than mere resilience; they […]
Interest in maritime studies has been steadily growing in Cyprus, mirroring the island’s long-standing relationship with the sea and the strength of its shipping industry. At the Cyprus University of Technology (Tepak), the Department of Shipping has rapidly become one of the country’s most popular academic choices, reflecting both the sector’s prospects and Limassol’s position as a […]
Business & economy wrap-up from the day before The 16th Limassol Economic Forum convened prominent figures to dissect how global disruption is reshaping economies and trade, stressing that resilience, reform, and leadership are crucial for Cyprus and Europe. Deputy Minister Irene Piki detailed the government’s strategy, built on reform, investment, and institutional integrity, to build […]
Here are the top business stories in Cyprus from the week starting October 20: The International Chamber of Shipping (ICS) expressed disappointment following the conclusion of the International Maritime Organisation’s (IMO) Extraordinary Session of the Marine Environment Protection Committee (MEPC) in London, where member states failed to reach an agreement on the Net-Zero Framework (NZF) […]
The Deputy Ministry of Tourism is employing the dynamic tool of Fam Trips (Familiarisation Trips) for the tourist promotion of Cyprus abroad, aiming to attract tourists. It is relying on travel agents, journalists, bloggers, and influencers, offering them a trip to the island that includes visits to hotels, attractions, and events so they can experience Cyprus firsthand […]