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2024: A Pivotal Year For Tourism And Economic Growth In Cyprus

by THEFUTURE.TEAM

December 2, 2024

Deputy Minister for Tourism, Kostas Koumis, has described 2024 as a milestone year for Cyprus’s tourism sector, highlighting record-breaking achievements in visitor arrivals and revenue. His remarks, delivered on Friday, follow the release of impressive figures by the Statistical Service.

Tourism Reaches New Heights

Koumis expressed satisfaction with the sector’s recovery, noting that arrivals and revenue have returned to, and even exceeded pre-pandemic levels. According to the Deputy Ministry, revenue from January to September 2024 rose by 31.1% compared to 2022 and 15.3% compared to 2019. Arrivals for the January–October period increased by 4.6% from 2023, and 26.7% from 2022, and even surpassed 2019’s figures by 0.8%.

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Additionally, Koumis pointed out that per capita expenditure remains steady, reflecting sustained economic benefits from tourism. Looking ahead to 2025, the ministry’s strategy prioritises investment in rural tourism, environmental preservation, and community-driven benefits.

Resilient Sector and Strategic Success

The Deputy Ministry credited the robust performance to effective market-targeting decisions and the resilience of the tourism sector. Koumis emphasised that Cyprus’s approach to diversifying its tourism offerings and focusing on quality experiences has yielded significant results.

Economic Highlights: Fiscal Surplus and Revenue Growth

Cyprus’s broader economic performance in 2024 also stands out. Preliminary data from the Statistical Service reveals a surplus of €1.43 billion (4.2% of GDP) for January–October, up from €664.8 million (2.1% of GDP) during the same period in 2023.

Revenue Growth

Total Revenue: Increased by 6.6%, reaching €11.69 billion.
Taxes on Production and Imports: Grew by 6.2%, with net VAT revenue rising 7.6%.
Income and Wealth Taxes: Surged by 16%, amounting to €2.9 billion.
Revenue from Goods and Services: Jumped by 29.9%, reaching €822.7 million.

While some areas, such as social benefits and employee compensation, saw increases, the overall fiscal picture remains positive, driven by disciplined spending and strong revenue growth.

Looking Forward

With record-breaking tourism figures and a strong fiscal position, Cyprus is well-positioned for sustainable economic growth. Investments in rural development, community benefits, and environmental sustainability ensure that both the tourism sector and the wider economy will continue to thrive in the years ahead.

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Ryanair Will Require Checked Bags To Be Dropped Off 60 Minutes Before Departure

by THEFUTURE.TEAM

October 29, 2026

Ryanair passengers checking luggage will need to drop off their bags at least 60 minutes before departure from 10 November, giving travellers less time to use the airline’s airport bag-drop service.

Until the change, passengers can hand over checked luggage up to 40 minutes before their scheduled departure. The new deadline will apply at all airports served by Ryanair.

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More Time For Security And Passport Control

Announced in April, the policy is intended to give passengers more time to clear security and passport control, where queues can lengthen during busy travel periods. Ryanair says about 20% of its passengers check in a bag.

“This small change will give the 20% of Ryanair passengers who check in a bag more time to clear airport security and passport control queues and get to their departure gate before boarding begins,” said Dara Brady, the airline’s chief marketing officer.

Brady urged passengers using airport bag drop to arrive in good time and complete both check-in and baggage drop before the revised 60-minute cutoff.

Higher Fares And Route Cuts In Focus

The baggage deadline comes as Ryanair’s leadership warns of potential pressure on fares and capacity across Europe. Chief executive Michael O’Leary recently told Euronews that airfares could see their biggest increase in European history over the next 12 months.

O’Leary said airlines could be largely unhedged against higher jet-fuel prices from April 2027, with fare increases passed on to customers potentially reaching 20%. He also forecast that airline failures and takeovers could reduce the number of available seats.

Ryanair has also announced plans to reduce routes to Belgium, citing the country’s proposed increase in aviation tax from €2 to €7 in January 2027.

Europe’s largest airline operates bases across the continent, including its headquarters in Dublin, as well as locations in Marseille, Berlin, Athens, Milan and Barcelona.