Cypriots among interested investors for Larnaca port

by THEFUTURE.TEAM

September 30, 2024

Foreign but also Cypriot investors have shown interest in the port of Larnaca, Minister of Transport, Communications and Works Alexis Vafeadis said on Friday, urging Cypriots to enter the bidding process for the port.

In statements after a meeting he held with the Mayor of Larnaca and the Ad Hoc Committee, the Minister referred to the development of the port and marina of Larnaca, saying that the project must take such a form that it will serve the next generations.

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The Minister was asked whether, given the situation in the Middle East, it is easy to find an investor for the port.

He replied that in the last three months, the phone calls he has received and the reports from many people in the private sector, “encourage us that we will find an investor”.

He added that Qatar is just one investor that has expressed interest.

There are, he continued, others who have expressed interest.

The Minister noted that there are also Cypriots who are interested adding that “we want, if they can enter the bidding process, that Cypriots take it”.

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Cyprus Services Sector Shows Robust Performance In 2025 As Tourism, Digital Innovation, And Shipping Surge

by THEFUTURE.TEAM

April 6, 2026

The Employers and Industrialists Federation (OEV) reported growth across Cyprus’ services sector in 2025, with increases recorded in tourism, professional services and administrative activities. Data show continued expansion across multiple sub-sectors, reinforcing the role of services in economic output and employment.

Service Sector Leadership

Accommodation and food services grew by 9.5%, while administrative and support activities increased by 7.4%. Professional, scientific and technical activities rose by 4.6%, followed by information and communication at 4.3%. Transport and storage recorded growth of 2.8%, while real estate activity increased by 0.4%. These figures indicate broad-based expansion across service industries.

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A Remarkable Tourism Surge

Tourist arrivals reached 4,534,073 in 2025, marking a 12.2% increase year-on-year. December arrivals totaled 156,959, up 18% compared with the same period a year earlier. Tourism continues to support revenue generation and seasonal demand across the economy. Growth in visitor numbers contributes to activity in hospitality and related sectors.

Driving Digital Transformation

OEV is supporting digital adoption through initiatives such as the DiGiNN Cyprus Digital Innovation Hub. The program focuses on improving business processes, skills development and technology integration. Additional efforts include the establishment of a Digital Transformation and Innovation Committee and international engagement through business missions. These actions support the adoption of digital tools across sectors.

Resilient Shipping Sector

Shipping accounted for about 7% of Cyprus’s GDP in 2025, remaining a key component of the economy. The Cyprus Registry recorded its highest tonnage in 20 years, with an increase of nearly 20%. Fleet growth strengthens Cyprus’ position within European Union shipping registries and global maritime markets. The sector continues to contribute to economic stability.

Strengthening The Economic Foundation

OEV is organizing conferences, workshops and exhibitions to support business development across sectors. These initiatives focus on improving operational practices and industry collaboration. Continued investment in services and digital infrastructure is expected to support economic performance.

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