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Cyprus Embarks On A Bold Year-Round Tourism Strategy Amid Rising Winter Demand

Cyprus is setting a precedent by transforming its tourism strategy into a year-long endeavor. Hermes Airports Director of Aviation Development, Marketing and Communication, Maria Kouroupi, emphasizes that winter tourism is not merely a stopgap solution but a strategic imperative in the wake of climate challenges.

One-Way Street: The Imperative of Winter Tourism

“We are going for a third consecutive record year in passenger traffic,” Kouroupi noted on the Politis podcast, A Look at the Economy. This achievement is the result of deliberate coordination among airlines, hoteliers, tour operators, and government authorities. As rising off-season demand reinforces the need for year-round activity, Cyprus’s tourism model is evolving from its reliance on peak summer months.

Investing in Comprehensive Year-Round Experiences

With climate change poised to erode the summer tourist advantage, the focus is shifting toward a fully operational, year-round tourism ecosystem. Kouroupi argues that success hinges on more than just keeping hotels open. Restaurants, experience providers, and ancillary services must also adapt and innovate to offer compelling narratives and products during the off-season. This strategy positions destinations like Cyprus as attractive to airlines, which favor locales that boast a consistent influx of passengers throughout the year.

Boosting Connectivity and Infrastructure

In a proactive move, Hermes Airports has introduced incentive schemes to bolster winter connectivity. This season alone, 13 new routes have been inaugurated, with five million seats designated for the November–March period. Kouroupi warned that insufficient demand could lead to significant losses for airlines, highlighting the strategic balance between route expansion and market viability.

Strengthening International Ties

Notably, markets such as the United Kingdom, Israel, and Poland continue to drive growth, with additional momentum emerging from the Balkans and Scandinavia. Ahead of Cyprus’s EU Council Presidency in 2026, efforts to enhance connectivity with Brussels are already underway. New flight announcements signify a reinforced commitment to long-term integration with key economic hubs.

Modernizing Airport Facilities for Future Growth

Addressing infrastructure enhancements, Kouroupi acknowledged that delays in airport expansions have stemmed from protracted negotiations with governmental authorities rather than technical or construction issues. Under current approved plans, Larnaca Airport will benefit from revamped passport control and security facilities, a new pier, and additional aircraft stands. Similarly, Paphos Airport is set to expand by approximately 30%, with both projects expected to be completed by late 2027.

Readiness for a Changing Global Landscape

As the tourism landscape evolves, the strategic emphasis on winter operations and robust infrastructure positions Cyprus as a competitive, year-round destination. With airports gearing up for both current challenges and future opportunities, the island nation is poised to redefine its role in the global tourism market.

doValue Cyprus Strengthens Market Leadership With New Astrobank Portfolio

Expanding Market Influence

Loan and real estate management firm doValue Cyprus has significantly reinforced its domestic presence in non-performing loan servicing by acquiring a new portfolio from Astrobank Public Company Limited. This development follows Astrobank’s recent transition, marked by the transfer of key operations to Alpha Bank Cyprus Limited and the subsequent surrender of its banking licence.

Strategic Acquisition And Swift Execution

Finalized on November 3, 2025, the agreement underscores a decisive strategic shift as doValue Cyprus assumes management of Astrobank’s remaining portfolio. The immediate commencement of portfolio management is a testament to the firm’s commitment to delivering specialized, resilient solutions within the non-performing loan market.

Expertise Driving Market Growth

Chief Executive Officer Varnavas Kourounas emphasized that the latest portfolio acquisition not only expands the firm’s operational footprint but also validates its credibility and deep expertise in the competitive Cypriot financial sector. The strategic move is aligned with the broader growth ambitions of the doValue Group.

Broader Market Implications

Operating as part of the international doValue Group—the largest independent loan and real estate management organization in Southern Europe—doValue Cyprus is well-positioned to leverage its newly expanded portfolio. With approximately €136 billion in assets under management, the group maintains a dominant presence across Italy, Greece, Spain, Portugal, and Cyprus. Moreover, its subsidiary, Altamira Real Estate, runs Cyprus’ largest real estate platform, managing extensive property portfolios alongside the island’s most comprehensive sales network.

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