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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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Urgent Call For Telework Measures Amid Heightened Security Risks At British Bases In Cyprus

The British Base Personnel Sector of PASYDY has requested the introduction of telework arrangements for employees working at British bases in Cyprus. The request was submitted to Stephen B. Dougan, Deputy Command Secretary of the Sovereign Base Areas Administration (SBAA), through the union’s General Secretary.

Rationale Behind Telework Implementation

According to PASYDY, the administration of the British bases has instructed personnel at the Akrotiri base to leave the area, with operations continuing only with essential security staff. No similar directive has been issued for facilities in Episcopi, Dhekelia and Agios Nikolaos. Employees at those locations continue to work on site, according to the union.

Telework Directive: A Proactive Strategy

In its letter titled “Urgent Recommendation For Immediate Telework Implementation,” PASYDY said it is concerned about the security situation in the region. The union wrote: “We express our concern regarding the current situation and the military developments in the region, which may pose risks to personnel working at British bases in Cyprus.” PASYDY suggested that employees whose duties do not require a physical presence should temporarily move to telework arrangements.

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Operational Safety And Leadership Accountability

Continuing on-site operations under current security conditions could expose staff to additional risks, the letter states. PASYDY argues that introducing telework arrangements for roles that do not require a physical presence would help reduce potential exposure while allowing operations to continue.

The union also urged the administration to consider the request with urgency and introduce the necessary adjustments where possible. According to the letter, such measures would prioritize employee safety while maintaining operational continuity.

PASYDY noted that similar remote-work arrangements have been adopted by organisations and institutions during periods of heightened uncertainty, particularly when security or operational conditions affect normal workplace activity.