Here are the top business stories in Cyprus from the week starting January 13: The need for enhanced collaboration between public authorities and private enterprises was emphasised during the recently held ‘Beyond Sea & Sun’ conference. This event, organised by Hermes Airports with the support of Hellenic Bank, focused on strategies to transform Cyprus into a year-round […]
Key insiders said the good progress of Cambodia’s garment, footwear, and travel (GTF) exports is a significant positive sign for the Cambodian economy, social stability, and decent work standards environment. The latest trade data from the General Department of Customs and Excise of Cambodia (GDCE) showed that GFT exports earned $13.74 billion in 2024, up […]
The government is aiming for investment at and the possible future development of the old Larnaca airport, Transport Minister Alexis Vafeades said on Saturday. Speaking during a visit to the old airport alongside Larnaca chamber of commerce and industry (Evel) chairman Nakis Antoniou, he said the visit’s purpose was “to see what prospects there are, […]
Cyprus is “in the final stage” of preparation to join Europe’s Schengen zone, President Nikos Christodoulides said on Saturday. Speaking at a meeting of the European People’s Party in Berlin, he said his government now has as its “main goal” integration into the Schengen zone, and that it has “done a lot of work to […]
Following a successful year in 2024 that saw foreign tourist arrivals exceed expectations, the Ministry of Tourism has set an ambitious target of attracting up to more than 7 million international tourists in 2025. “The ministry has set a strategic plan in targeting to attract up to 7.2 million or 7.5 million foreign tourists in […]
The World Bank’s latest Global Economic Prospects report has forecast Cambodia’s GDP growth at 5.5 percent for this year and next year — up from an estimated 5.3 percent last year. Released in Washington on Thursday, the annual report ranks Cambodia among the fastest-growing emerging markets and developing economies in East Asia—ahead of China, Indonesia, […]
The messages for tourism in 2025 are positive, with a better flow of bookings compared to last year, according to the President of the Cyprus Hotel Association, Thanos Michaelides. Speaking to the Cyprus News Agency (CNA), Michaelides said that observing the flow of bookings for 2025, it seems that there is interest in making reservations earlier, […]
Tourist arrivals in Cyprus in 2024 exceeded four million for the first time, recording a historic value with 4,040,200 arrivals, compared to 3,845,652 in 2023, marking a significant annual increase of 5.1%. The previous record for arrivals was recorded in 2019 and was 3,976,777. In addition, according to CySTAT, tourist arrivals in December 2024 set […]
The Deputy Ministry of Tourism on Friday announced the second call for proposals under its €3 million grant scheme to boost tourism across Cyprus. The scheme aims to support the modernisation and competitiveness of hotels and tourist accommodations in rural, mountainous, and other remote areas. This initiative aims to strengthen tourism infrastructure by offering financial […]
The environmental authority has approved the €60 million American Medical Centre Limassol / American Heart Institute project, according to an announcement released on Friday. “The approval by the Environmental Authority lays the foundation for a model private hospital in Limassol, setting a new benchmark for the health sector based on the highest international standards,” said […]
The 17th International Shipping Conference took place in Athens this week, with the central theme being the bridging of the shipping industry with capital markets. Co-hosted by Maritime Economies and UPoilTankers and Trading Inc., the event attracted 244 industry professionals and featured 31 speakers alongside 34 sponsors, enriched by significant insights from Cyprus’ maritime sector […]
Limassol’s Ariel Cinema, a historic site long out of use, is set to be transformed into a 19-storey mixed-use tower following approval from the environment department. Dating back to 1966, the cinema was located at the intersection of Makariou and Agia Zoni streets and featured separate theatres for winter and summer viewings, making it a […]
The outlook for Cyprus tourism in 2025 is encouraging, with booking flows surpassing those of the previous year, according to president of the Cyprus Hoteliers Association (Pasyxe) Thanos Michaelides. Michaelides stated that early bookings for 2025 are showing stronger interest compared to the same period in 2024. He explained that “while 2024 was considered a […]
Cambodia has showcased its tourism potential at the ASEAN Travel Exchange (TRAVEX) in Malaysia, sharing insights into the country’s rich cultural and natural attractions, and highlighting the Kingdom’s readiness to welcome international tourists in 2025. In a press briefing held at the ASEAN Travel Exchange (TRAVEX), in Johor Bahru, Malaysia, Ouk Sam Ath, Deputy Director […]
Cambodia’s economy is projected to grow at 6.3 percent in 2025, said the Budget in Brief report for the Fiscal Year 2025, released by Ministry of Economy and Finance (MEF) on Tuesday. According to the assessment of the Royal Government’s medium-term public financial framework, the growth is expected to increase the current price of Gross […]
The Royal Government of Cambodia (RGC) Wednesday organised a meeting to review and discuss the ‘Logistics Performance Index (LPI) Score’ published by the World Bank aimed to assess and improve the Kingdom’s logistics as part of broader efforts to enhance trade efficiency and support sustainable economic development. The meeting, presided over by Sun Chanthol, Deputy […]