Breaking news

Bill On RoC-US Agreement For Travel Sent To House Plenary For Vote

by THEFUTURE.TEAM

July 10, 2024

Α bill on the agreement between the Republic of Cyprus and the United States of America for cooperation on the use of travel information is to be tabled to the House Plenary for a vote this week.

Justice Minister, Marios Hartsiotis, told the House of Representatives Committee on Foreign Affairs that if the bill is passed on time, possibly at the end of 2024, “certainly within 2025”, we will be able to talk about visa liberalisation.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

During the session, Hartsiotis briefed the Committee members on the bill concerning the agreement between the Governments of the Republic of Cyprus and the US, regarding the use of travel information. He said that the agreement is one of the conditions for the inclusion of the Republic of Cyprus in the US visa waiver program.

On a practical level, he said, travellers to the US for a period of up to 90 days will have to fill out an online application, and that, in a short time, and at minimal cost, they will receive an answer, after their information is passed through the system.

He also noted that currently, those who want to travel to the US have to go through a difficult procedure.

If everything goes well and the bill is passed on time, the Minister said, possibly by the end of the year, or certainly within 2025, “we will now be able to talk about” visa liberalisation.

Hartsiotis also referred to a “massive benefit” regarding further shielding the State against all types of risks, such as organised crime, drugs, terrorism, etc. He also said that the Republic of Cyprus would have at its disposal “perhaps one of the most perfect” information exchange systems.

Chairman of the Committee, Harris Georgiades, said that the bill is to be tabled to the plenary this week.

The Future Forbes Realty Global Properties

Cyprus Emerges As A Leading Household Consumer In The European Union

by THEFUTURE.TEAM

June 30, 2025

Overview Of Eurostat Findings

A recent Eurostat survey, which adjusts real consumption per capita using purchasing power standards (PPS), has positioned Cyprus among the highest household consumers in the European Union. In 2024, Cyprus recorded a per capita expenditure of 21,879 PPS, a figure that underscores the country’s robust material well-being relative to other member states.

Comparative Consumption Analysis

Luxembourg claimed the top spot with an impressive 28,731 PPS per inhabitant. Trailing closely were Ireland (23,534 PPS), Belgium (23,437 PPS), Germany (23,333 PPS), Austria (23,094 PPS), the Netherlands (22,805 PPS), Denmark (22,078 PPS), and Italy (21,986 PPS), with Cyprus rounding out this elite group at 21,879 PPS. These figures not only highlight the high expenditure across these nations but also reflect differences in purchasing power and living standards across the region.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Contrasting Trends In Household Spending

The survey also shed light on countries with lower household spending levels. Hungary and Bulgaria reported the smallest average expenditures, at 14,621 PPS and 15,025 PPS respectively. Meanwhile, Greece and Portugal recorded 18,752 PPS and 19,328 PPS, respectively. Noteworthy figures from France (20,462 PPS), Finland (20,158 PPS), Lithuania (19,261 PPS), Malta (19,622 PPS), Slovenia (18,269 PPS), Slovakia (17,233 PPS), Latvia (16,461 PPS), Estonia (16,209 PPS), and the Czech Republic (16,757 PPS) further illustrate the disparate economic landscapes within the EU. Spain’s figure, however, was an outlier at 10,899 PPS, suggesting the need for further data clarification.

Growth Trends And Economic Implications

Eurostat’s longitudinal analysis from 2019 to 2024 revealed that Croatia, Bulgaria, and Romania experienced the fastest annual increases in real consumer spending, each growing by at least 3.8%. In contrast, five member states, with the Czech Republic experiencing the largest drop at an average annual decline of 1.3%, indicate a varied economic recovery narrative across the continent.

This comprehensive survey not only provides valuable insights into current household consumption patterns but also offers a robust framework for policymakers and business leaders to understand economic shifts across the EU. Such data is integral for strategic decision-making in markets that are increasingly defined by evolving consumer behavior and regional economic resilience.