Breaking news

Cyprus Airports Set To Welcome 13 Million Passengers In A Record-Breaking Year

Cyprus is on the verge of hitting a new milestone in air travel as Hermes Airports anticipates an influx of up to 13 million passengers in 2025. This reflects a notable 5.6% annual increase from last year’s figures, further cementing the island’s reputation as a thriving hub of connectivity.

With 55 airlines ready to operate flights to and from 158 destinations across 39 countries, the surge in passenger traffic is no coincidence. Hermes Airports, the body managing Larnaca and Paphos international airports, attributes this growth to strategic efforts aimed at enhancing air connectivity to and from Cyprus.

New Routes And Airlines

The summer schedule introduces exciting new direct routes including Riyadh, Venice, Marseille, Düsseldorf, Lyon, and Sibiu. Significantly, the Riyadh-Larnaca connection debuts Saudia’s inclusion in Cyprus’s scheduled route network. Fresh names like AnimaWings, SkyUP, and Air Haifa are entering the market, adding vibrant options to regional air travel.

A Resilient Tourism Sector

Despite losing significant markets such as Russian and Ukrainian travel and facing global economic uncertainties, Cyprus’s tourism remains strong.

As we approach the summer, Hermes Airports is geared up to manage 145 flights daily, underscoring Cyprus’s role as a pivotal player in the Mediterranean air travel sphere. Stay tuned as Cyprus continues its journey of growth, leveraging strategic connections and resilient infrastructure.

MSCI To Reclassify Greece As Developed Market In May 2027

A Pivotal Step In Greece’s Economic Revival

MSCI said Greece will be reclassified from an emerging market to a developed market, with the change effective in May 2027. The move follows years of recovery after the sovereign debt crisis that began in 2009 and led to multiple bailout programmes.

Market Consultation And Broad Support

The decision follows a consultation with market participants, with most supporting the reclassification. Greece had been the only eurozone country classified as an emerging market in MSCI indices. The change will be implemented in a single adjustment across standard, custom, and derived indices during the May 2027 review.

Implications For Investor Capital Flows

Reclassification is expected to trigger portfolio reallocation between emerging and developed market funds. Emerging market funds may reduce exposure, while developed market funds are expected to increase allocations over time. According to Morgan Stanley, net passive flows are estimated at $300 million, roughly equivalent to one day of trading on the Athens Stock Exchange.

Structural Market Shifts And Future Outlook

Historically, the reclassification of Greece has been associated with significant changes in capital flow dynamics. Emerging market investors are poised to exit Greek positions, while developed market funds will gradually build new exposures. However, market analysts caution that these adjustments could potentially lead to short-term volatility. Notably, Greek equities have already experienced a substantial decline in dollar terms following early investor repositioning amidst geopolitical and sector-specific concerns.

Active Versus Passive Investment Strategies

Active investors may play a role in limiting the impact of passive outflows. Some emerging market funds are expected to retain exposure through off-benchmark allocations. Morgan Stanley cited Greece’s fiscal performance, growth rates, and bank valuations as supporting factors.

Investor Caution And Market Comparisons

JPMorgan raised concerns about the timing of the reclassification. The bank noted that Greece’s weight in European indices will decline, which could reduce investor attention. Comparisons were made to Greece’s previous upgrade in 2001, when market visibility decreased.

Conclusion

The reclassification reflects changes in Greece’s economic position and market structure.Future performance will depend on capital flows, investor allocation decisions, and broader market conditions.

eCredo
The Future Forbes Realty Global Properties
Aretilaw firm
Uol

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter