Cyprus Tourism Revenue Surges by 9.6% in June, Paving the Way for a Record-Breaking Year

by THEFUTURE.TEAM

September 3, 2025

Robust Monthly Performance

Cyprus recorded a significant 9.6% increase in tourism revenue for June 2025, with earnings climbing to €422.3 million from €385.2 million during the same month last year, according to data from the state statistical service, Cystat. This strong monthly performance is bolstered by a rise in average expenditure per visitor, which reached €847.01 in June 2025, up from €798.77 the previous year. Daily spending also increased, rising from €93.97 to €99.65.

Half-Year Performance and Economic Impact

The first half of the year witnessed tourism revenues reach €1.38 billion, marking a 21.3% increase compared to €1.14 billion in the January–June period of 2024. The results underscore the critical role the tourism sector plays in Cyprus’s economy, contributing substantially to employment and overall GDP. The strong performance reflects a continued recovery and momentum following the post-pandemic rebound that saw arrivals surge from 631,609 in 2020 to 2.99 million by 2023.

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Visitor Spending Dynamics Across Key Markets

The United Kingdom remains Cyprus’s largest market, accounting for 36.4% of tourists in June 2025 and an average daily spend of €103.92. Other important markets include Poland, where visitors spent an average of €663.65 per person (€90.91 per day) and Israel, with daily expenditures averaging €149.44. Notably, high-spending tourists from Switzerland, Austrians, Belgian, Dutch, German, and Swedish markets further fueled the upward revenue trajectory, while Greek tourists lagged with lower per person spending at €398.38.

Diverse Demographics and Regional Trends

Across the season, the diversity of visitor markets has been a critical driver of growth. The UK continued to dominate arrivals through May, with significant contributions from Israel, Poland, Germany, Sweden, and Greece. June saw a 3.4% increase in tourist arrivals compared to the previous year. Subsequent peak season months further bolstered this trend, with July registering a 6.9% increase in arrivals, positioning Cyprus to exceed 2.4 million tourists by mid-year.

Strategies for Sustained Growth and Year-Round Appeal

Following record-breaking figures in 2024, with revenues exceeding €3.2 billion and visitor numbers surpassing four million, Cyprus is implementing strategic measures for sustainable and digitally empowered year-round tourism. Improved air connectivity, targeted promotional activities, and strategic investments in specialized tourism segments have underpinned this recovery. The updated government tourism strategy through 2035 reflects a commitment to consolidating gains amid emerging challenges such as labor shortages and competitive pressures from alternative destinations.

As the nation continues to redefine its tourism landscape, the focus remains on not only capturing peak demand but also fostering a resilient, diversified market that secures long-term economic stability.

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Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

by News Editor

October 21, 2026

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

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ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

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