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Sustainable Tourism Takes Center Stage Under Cyprus EU Council Presidency

by THEFUTURE.TEAM

March 2, 2026

Sustainable And Resilient Tourism Focus

The Cyprus Presidency of the EU Council has placed sustainable and resilient tourism at the center of its agenda, with a focus on challenges facing Mediterranean destinations. The priorities were discussed at a high-level conference in Nicosia addressing climate action, competitiveness, and long-term tourism strategy in the region.

Strategic Vision Under Cyprus Presidency

Kostas Koumis, Deputy Minister of Tourism, said tourism remains a key priority during the Cyprus Presidency due to its role in economic growth and regional development, particularly for island economies.

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Cyprus’s six-month term also provides an opportunity to shape policy direction at the EU level. Current discussions focus on strengthening the sector’s resilience and improving sustainability standards across Mediterranean destinations.

Greece’s Tourism Record And Collaborative Strategy

Greek Deputy Minister of Tourism Anna Karamanli said 2025 was a record year for Greek tourism, with revenues reaching €23.626 billion, up 9.4% compared with 2024. Revenue growth outpaced visitor growth, which officials attribute to higher-value tourism products.

Karamanli described the Eastern Mediterranean as one of Europe’s most dynamic tourism regions, but also one of the most environmentally exposed. Key challenges include seasonality, climate pressure, and marine ecosystem protection. Greece and Cyprus, she said, are aligning strategies around sustainable development.

The planned creation of a Coastal and Marine Tourism Observatory under the World Tourism Organization is intended to strengthen regional cooperation and data sharing.

Environmental Warnings And Call For Collective Action

In a recorded message, King Albert II highlighted environmental risks facing the Mediterranean, describing the region as both heavily visited and environmentally vulnerable.

He warned that further ecosystem degradation could affect both biodiversity and tourism-dependent economies, calling for coordinated action to protect natural resources.

Integrating Climate Action And Circular Economy

Industry representatives said climate action and circular economy principles are becoming central to tourism policy. Dilyor Hakimov, Director of Institutional Relations at UN Tourism, referred to the Glasgow Declaration and the “One Planet” program as frameworks guiding this transition.

Philip Drousis, CEO of the Sustainable Tourism Initiative of Cyprus, noted that tourism accounts for nearly 10% of EU GDP and employment, increasing pressure on the sector to accelerate its green transition as Mediterranean destinations face rising temperatures and water scarcity.

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Bank of Cyprus Upgrade Signals Fresh Optimism For Greek And Cypriot Banks

by THEFUTURE.TEAM

June 26, 2026

Regional Banks Enter A More Favorable Cycle

Bank of Cyprus and Eurobank are well positioned to benefit from a renewed re-rating of Greek and Cypriot bank stocks, according to Cyprus-based investment firm Roemer Capital, which upgraded Bank of Cyprus to a buy rating and reaffirmed its positive view on Eurobank.

The firm cited easing geopolitical tensions, resilient economic growth in Greece and Cyprus, lower funding costs and Greece’s expected transition to developed-market status as the main factors supporting the sector.

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Roemer Capital also lowered its cost of equity assumptions, updated its forecasts following first-quarter 2026 results and extended its valuation horizon to the end of 2027, raising target prices across its banking coverage.

Bank Of Cyprus Gets The Largest Upgrade

Bank of Cyprus received the biggest revision, with Roemer Capital upgrading the stock from hold to buy and setting a target price of €11.10, implying potential total upside of 27%.

The firm highlighted the bank’s strong capital generation, profitability and projected 100% dividend payout, describing it as the strongest capital-return story among the banks under coverage. Roemer Capital maintained its buy rating on Eurobank, assigning a target price of €4.90 and forecasting potential upside of 28%. The report said the bank is well placed to benefit from loan growth, improving operating performance and merger-and-acquisition synergies.

National Bank of Greece and Piraeus Bank also retained buy ratings, with expected returns ranging from 25% to 36%. Optima Bank was upgraded to buy, while Alpha Bank remained at hold on valuation grounds.

Why Growth Still Sets The Region Apart

According to Roemer Capital, Greek and Cypriot banks continue to benefit from stronger economic fundamentals than many western European peers. The report pointed to faster economic growth, healthier balance sheets, low levels of non-performing exposures, capital ratios approaching 20% and strong customer deposit bases.

Analysts expect performing loans across the sector to grow at a compound annual rate of 6% to 8% through 2028, supported by private investment, digitalisation, green manufacturing, supply-chain expansion and a gradual recovery in household lending.

The report also said the conclusion of lending under the EU Recovery and Resilience Facility is unlikely to materially affect credit growth, as banks have already shifted back towards traditional commercial lending. Roemer Capital expects Euribor to remain between 2.2% and 2.5%, a level it believes should support both lending activity and net interest margins.

Geopolitics, Valuation And Market Structure Support The Case

The report said improving geopolitical conditions have strengthened the investment outlook, noting that Brent crude prices have largely returned to pre-war levels while Greek government bond yields have stabilised at around 3.5%. Although geopolitical risks remain, Roemer Capital believes the likelihood of a major inflationary shock or significant pressure on bank profitability has eased.

Another important catalyst identified by the firm is Greece’s expected promotion to developed-market status by FTSE Russell, STOXX and MSCI over the coming months.

According to the report, the reclassification should improve liquidity and attract a broader base of international investors. Roemer Capital also said Euronext’s acquisition of the Athens Exchange is expected to strengthen market infrastructure and increase international visibility, particularly for Bank of Cyprus and Optima Bank.

The firm noted that Bank of Cyprus has already benefited from its Athens listing, with average daily trading value increasing from less than €400,000 before its September 2024 move to nearly €6 million afterwards.

Economic Momentum Remains A Core Tailwind

Roemer Capital said both Greece and Cyprus have moved beyond post-crisis recovery and are now supported by private-sector-led growth. For Cyprus, the report highlighted recent tax reform and efforts to simplify the legal and regulatory framework, while also noting that limited foreign banking competition continues to support domestic lenders.

Overall, Roemer Capital expects Greek and Cypriot banks to remain well-positioned for profitable loan growth over the coming years.