Cyprus Charts A Promising Future In Tourism With Extended Winter Season

by THEFUTURE.TEAM

November 7, 2025

Cyprus is positioning itself for a remarkable tourism rebound as Deputy Tourism Minister Kostas Koumis expressed strong optimism for the upcoming season at the prestigious London World Travel Market. The event, held at the Excel Centre and recognized as one of the premier showcases in the global tourism industry, set the stage for discussions aimed at expanding Cyprus’s appeal into the winter months.

Confidence On The Global Stage

At an event that attracts over 5,000 exhibitors from 180 countries and approximately 45,000 tourism professionals worldwide, Cyprus has once again demonstrated its dynamic presence. The Ministry of Tourism has used this platform to communicate a clear strategic focus: to extend the tourism period well into winter, ensuring sustained visitor growth and economic vitality.

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Strategic Dialogues And Promising Outcomes

Throughout a series of high-caliber meetings with tour operators and leading airlines, Minister Koumis reported exceptionally positive feedback. These sessions underscored both the success of the previous summer—with record numbers in hotel stays and revenue—and the ambitious plans for further expansion. Koumis stressed that every discussion confirmed the country’s readiness to build on its achievements and consistently drive visitor growth.

Market Leadership And Economic Impact

Cyprus currently stands as the European Mediterranean nation with the highest year-on-year increase in hotel overnight stays, and its revenue growth rate outpaces that of its competitors. This market leadership not only reinforces the country’s attractive tourism product, but also signals robust economic prospects as efforts pivot toward maximizing winter season opportunities.

Looking Ahead

Deputy Minister Koumis emphasized the crucial objective of boosting winter visitor numbers. “The feedback we received is extremely encouraging, and we are committed to pursuing every possible avenue to enhance our tourism offerings,” he stated. With the momentum from a highly successful summer, Cyprus is strategically deploying resources to ensure that the next season eclipses previous benchmarks.

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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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