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.

The Future Forbes Realty Global Properties

Oura Ring 5 Launches With Updated Health Monitoring Features

by THEFUTURE.TEAM

May 28, 2026

Introducing A Redefined Wearable Experience

Oura has unveiled its latest breakthrough in wearable technology with the launch of the Oura Ring 5, positioned as the smallest smart ring available on the market. According to Oura CEO Tom Hale, the new design is a significant evolution over previous models, being 40% smaller than its predecessor. Despite the reduced size, the ring maintains the comprehensive suite of sensing, tracking, and accuracy features that have become synonymous with the Oura brand.

Revolutionizing Design And Functionality

Hale emphasized the transformative potential of the Oura Ring 5, stating, “By reimagining Oura Ring 5 to be smaller, easier to wear, and pairing it with our most advanced software yet, we’re making it possible for many more people to wear Oura every day — and to benefit from the personalized, predictive health insights that come with it.” Scheduled to begin shipping on June 4, pricing starts at $399 for base finishes and $499 for premium options such as gold and brushed silver. Complementing the launch is a portable charging case, available for $99.

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Elevated Health Tracking Capabilities

Beyond its sleeker form factor, Oura is expanding its health tracking functionalities. The new generation of rings, along with compatible features on its generation 3 and 4 devices, will now leverage an enhanced Health Radar. This suite of features monitors key biometric signals, including body temperature, respiratory rate, and even blood pressure patterns during sleep, aiming to detect potential cardiovascular risks. Additional improvements include refined tracking for live activities like running and cycling, as well as a GLP-1 insights feature that supports users managing weight-loss medications.

Strategic Growth And Market Validation

Oura has expanded beyond sleep tracking into broader health and wellness services in recent years. The company was included multiple times on the CNBC Disruptor 50 ranking and placed No. 14 in 2026. Oura also confirmed that it confidentially filed IPO paperwork with the U.S. Securities and Exchange Commission, although no public listing timeline has been announced. According to the company, more than 5.5 million rings have been sold globally. Projected 2026 sales are approaching $2 billion, while paid memberships are expected to exceed five million users during the current quarter.

Securing Future Innovation

The company’s robust financial growth is underscored by a $900 million Series E funding round in October last year, which valued Oura at $11 billion. Additionally, a strategic partnership with on-demand healthcare platform Counsel Health is set to integrate AI-enabled care, empowering users to receive personalized health advice directly via the Oura app. This collaboration, available in 43 U.S. states, further demonstrates Oura’s commitment to delivering predictive and preventative health solutions.

Oura’s advancements highlight a disciplined approach to innovation that not only redefines wearability but also expands the broader capabilities of digital health, positioning the company as a leader in the competitive landscape of smart wearables.

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