Deputy Minister Of Tourism Charts Promising Future For Cyprus Post-WTM Engagements

by THEFUTURE.TEAM

November 6, 2025

Cyprus Deputy Minister of Tourism, Costas Koumis, has signaled robust optimism for the forthcoming tourist season following a series of strategic discussions with tour operators and airlines at the renowned World Travel Market (WTM) in London.

Strategic Engagement At WTM

Held at the Excel Centre, the WTM stands as one of the globe’s most significant tourism events, featuring over 5,000 exhibitors from 180 countries and drawing nearly 45,000 industry professionals. During the event, Deputy Minister Koumis successfully communicated Cyprus’ commitment to leveraging its assets as a year‐round destination, receiving highly positive feedback from key partners.

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Enhanced Focus On Winter Tourism

With a clear mandate to build upon the recent summer successes, Deputy Minister Koumis emphasized that amplifying visitor numbers during the winter season remains a top priority. “The main goal for us now is to increase visitors during the winter season, something we are working very intensively to achieve,” he noted. This focus is underpinned by remarkable performance metrics, including Cyprus recording the highest increase in hotel overnight stays among European competitors when comparing recent years.

Solidifying A Year-Round Appeal

Feedback from strategic partners was overwhelmingly positive, with endorsements reflecting both the exceptional summer visitor experience and the readiness for continued collaboration. These discussions reinforce Cyprus’ position as the European Mediterranean country with the highest percentage of revenue derived from tourism, reinforcing its potential as a viable destination throughout the year.

As Cyprus continues to enhance its offerings and foster international collaboration, the proactive engagement at WTM is set to underpin a transformative growth trajectory for the nation’s tourism sector.

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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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