Lending in Cyprus accelerated in September, with the annual growth rate of total loans reaching 14%, up from 11.8% in August. Deposits also recorded a stronger monthly increase, according to the Central Bank of Cyprus (CBC).

Total deposits rose by a net €697.1 million to €60.2 billion at the end of September. Total loans increased by €857.8 million to €29.6 billion, according to the CBC’s October 2026 Monetary and Financial Statistics.

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Deposit Growth Strengthens

Deposits recorded a monthly increase of €697.1 million, more than four times the €171.5 million rise in August. However, the annual growth rate remained unchanged at 6.5%.

Deposits held by Cyprus residents increased by €639.9 million. Household deposits rose by €93.8 million, while deposits held by non-financial corporations grew by €373 million. Other domestic sectors contributed a further €173.1 million.

Annual Loan Growth Reaches 14%

Total loans increased by a net €857.8 million in September, compared with €114.6 million in August. The annual growth rate accelerated to 14%, up from 11.8% a month earlier.

Lending to Cyprus residents rose by €470.8 million. Loans to households increased by €52.2 million, while lending to non-financial corporations grew by €110.1 million. Other domestic sectors recorded a larger increase of €308.5 million.

The figures cover deposits and loans held by monetary financial institutions in September 2026.

International tourism is booming, but its benefits are not always shared equally. Hotels and other businesses may see revenues rise while residents contend with higher housing costs, fading local identity and neighbourhoods transformed to serve visitors.

Positive Action Community Tourism (PACT) is advancing a different approach: bringing hotels, community organisations and local stakeholders together so that tourism creates social, cultural and economic value for the people who live in destination cities.

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Launched in Malta by British entrepreneur Mark Weingard, founder of the Iniala Group, PACT aims to make community involvement a core part of the tourism model—not an afterthought to commercial success.

Building A Global Movement

PACT began in Valletta and has four members. Weingard says the initiative is working with the World Travel & Tourism Council on an international launch, with the ambition of bringing the approach to destinations around the world.

“Hotels need to build a relationship with the community in which we operate,” he says. “It is not enough to arrive in a destination, open a hotel and make a profit. We must also help improve the lives of the people who live there.”

In Malta’s capital, the Iniala Group supports local cultural and sporting projects and works alongside residents. For Weingard, community trust is fundamental to operating responsibly: “We need the respect of the people who live here, not their hatred, which is why it is so important to work with residents.”

One example is Iniala Valletta, a boutique hotel created from several restored historic buildings. Weingard says the project was intended to preserve significant architecture while bringing activity back to parts of the city. The broader challenge, he argues, is to improve urban areas without displacing residents or eroding the traditions that give them character.

Preserving Identity As Cities Change

That tension is increasingly visible in popular destinations, where tourism investment can support restoration and local employment but also intensify pressure on housing and public space. PACT’s premise is that hotels should take an active role in addressing those pressures by working with the communities around them.

Weingard hopes the initiative will extend to cities such as Madrid, London, Paris and Lisbon. His call is for a broad agreement among stakeholders—and for more hotels to adopt a model that treats community wellbeing as part of tourism’s long-term value.

Wellbeing Beyond The Hotel Stay

Weingard also plans to replicate the Iniala model in Lisbon, Athens and Madrid, with properties designed to connect with each city’s culture and identity. Architecture, design and gastronomy are central to the guest experience, alongside collaborations with local architects and designers and restaurants featuring Michelin-starred cuisine.

But the model’s focus, he says, is ultimately on people and wellbeing. Iniala’s offering brings together personal care, skin treatments, physical recovery, healthy eating, psychological support, relaxation and meditation.

“Our goal is to bring together in one place accommodation, physical activity, nutrition, personal care, emotional health and all the tools to improve quality of life,” Weingard says. The aim is not simply to give guests a few days of rest, but to help them leave with habits and knowledge they can carry into everyday life.

A Wider Definition Of Tourism’s Value

Travellers are increasingly seeking experiences that offer more than a place to stay. For hotels, that creates an opportunity to build deeper connections with guests—and with the destinations that make those experiences possible.

PACT’s proposition is that these goals can reinforce one another. When hotels invest in local relationships, protect cultural identity and contribute to community wellbeing, tourism can create a more durable legacy. Whether that model can meaningfully ease the pressures of gentrification will depend on sustained, practical commitments. But it offers a clear standard for the industry: success should be measured not only by visitor numbers and revenue, but also by whether local people benefit from the places they call home.

Trade between China and Cyprus rose 26% year on year to $1.44 billion (€1.29 billion) in 2025, opening further opportunities for cooperation in shipping, tourism, green technology and digital services.

Speaking at a business forum in Nicosia on Tuesday, China’s ambassador to Cyprus, Yang Yundong, said China had become Cyprus’ fourth-largest trading partner. Cypriot products, including halloumi, zivania and fresh juices, are also gaining ground in the Chinese market.

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Expanding Bilateral Business Ties

Yang highlighted shipping, tourism, green technologies and the digital economy as promising areas for cooperation, while positioning Cyprus as a potential bridge between China and the European Union.

Organised by the Cyprus Chamber of Commerce and Industry (KEVE), the forum marked 55 years of diplomatic relations between the two countries.

KEVE chairman Stavros Stavrou said the priority was to turn longstanding ties into concrete business partnerships. Cyprus offers Chinese companies access to the EU single market, while China provides opportunities for Cypriot businesses seeking to expand internationally.

Tourism And Technology Drive Opportunities

A forthcoming agreement between Cyprus-based travel agency Top Kinisis and China’s Zhejiang Overseas (Ningbo) International Travel Service illustrates the potential for closer commercial cooperation.

Marios Tannousis, director of Invest Cyprus, identified information and communications technology as a key contributor to the Cypriot economy. The sector generates an estimated €4 billion annually, equivalent to around 15% of GDP.

Tannousis also highlighted Cyprus’ ability to attract foreign direct investment from multiple regions, noting that the country ranks among the world’s top 10 for FDI per capita.

Strengthening Business Connections

Theodoros Parperis, chairman of the Cyprus-China Business Association, called for further expansion of trade and investment. Established in 1995 under the auspices of KEVE and the Chinese embassy in Cyprus, the association now has more than 200 members.

The forum highlighted opportunities to deepen economic ties, with future growth depending on businesses turning market access and shared interests into practical partnerships across key sectors.

Anthropic’s potential IPO could generate substantial returns for venture investors, but its biggest beneficiaries may also be the technology companies supplying its computing infrastructure. Amazon and Google have invested billions in the AI developer while securing major cloud contracts with it.

A Different Ownership Structure

Venture firms including Menlo Ventures, Sequoia, Sound Ventures and Spark Capital are expected to benefit from an IPO, according to TechCrunch.

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However, none appears in the principal stockholders’ table in Anthropic’s S-1 registration statement, which identifies shareholders holding at least 5%. Anthropic’s reported private valuation of $965 billion helps explain why even smaller stakes could be worth billions. Menlo Ventures, for example, reportedly holds about $14 billion in shares, equivalent to roughly 1.5% of the company.

Amazon’s Convertible Notes Could Become Shares

Amazon began backing Anthropic in 2023, committing up to $4 billion. It subsequently invested billions more, including through convertible notes that can turn into equity following an IPO or sale.

Anthropic’s S-1 shows that Amazon held $6.2 billion in outstanding note principal as of June 30, accounting for the company’s entire debt load. Amazon valued its note holdings at $97.9 billion in its own filings.

The notes could convert into as many as 1.84 billion shares, subject to a contractual cap limiting Amazon to 12% of Anthropic’s partially diluted share count. Amazon can waive that cap, while notes that do not convert under the limit would remain outstanding.

The rising estimated value of these obligations has also affected Anthropic’s reported results. Changes in the fair value of convertible notes, derivative liabilities and simple agreements for future equity (SAFEs) amounted to $72.4 billion in the first half of 2026. This was a non-cash accounting charge, not a cash payment.

Cloud Contracts Add To Amazon’s Returns

Amazon’s exposure extends beyond convertible notes. In the second quarter, it invested another $10 billion in nonvoting preferred stock across Anthropic’s two latest funding rounds. Combined with $8 billion invested through notes between 2023 and 2025, Amazon’s total investment reached approximately $18 billion.

Anthropic has also committed to spend at least $110 billion on Amazon Web Services over the next decade, giving Amazon a substantial commercial stake in the AI company’s growth.

Google has a similar combination of equity and cloud exposure. Court filings reported by The New York Times indicated that Google owned around 14% of Anthropic in early 2025. After further funding rounds, its stake is likely to have been diluted. PitchBook analyst Harrison Rolfes estimated Google’s current ownership at approximately 5.6%.

Google invested another $10 billion in April and has secured at least $114 billion in cloud commitments from Anthropic through 2033.

Investors And Competitors At The Same Time

A successful IPO could deliver significant gains for Anthropic’s venture backers. Amazon and Google, however, stand to benefit in two ways: through their equity holdings and by selling the computing capacity needed to develop and run Anthropic’s AI models.

That dual role also creates a strategic tension. Anthropic’s filing notes that some of its cloud providers are developing competing AI models, meaning their commercial interests may not always align. As a result, the companies supporting Anthropic’s growth are also potential rivals in the AI market.

Cyprus recorded the second-lowest consumer spending on video games among 36 European countries in 2025, according to a report from the European Audiovisual Observatory. Only Malta spent less.

Spending Trails The European Average

Consumers in Cyprus spent €12.51 million on video games last year, placing the country 35th in the report’s ranking. Malta recorded €8.31 million in spending.

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That amounts to €9.93 per person in Cyprus, based on a population of approximately 1.26 million. The European average was €47.29 per person—nearly five times higher.

Across all 36 countries covered, the video game market generated €27.73 billion in consumer spending in 2025.

Mobile Games Account For Nearly All Spending

The report groups Cyprus with Luxembourg and Malta as smaller European markets where mobile gaming predominates. In Cyprus, mobile platforms accounted for about 98% of consumer spending on video games in 2025.

According to the report, high smartphone use and a comparatively limited presence of traditional consoles and PCs in the recorded data help shape these markets. Revenue is driven primarily by in-game purchases and digital currencies.

Three companies, a public service and five researchers were honoured at a joint innovation and research awards ceremony at the Nicosia Municipal Theatre on 26 October 2026, with President Nikos Christodoulides presenting the awards.

The event brought together the 19th Cyprus Innovation Awards of the Cyprus Employers and Industrialists Federation (OEB) and the Research and Innovation Foundation’s (RIF) Cyprus Research Awards 2025.

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OEB’s innovation awards recognised winners across four categories:

• Primary sector: Kouloumbri Farm Ltd.
• Manufacturing: Poupa Aluminium Systems.
• Services: Neuranet Solutions Ltd.
• Social innovation: The Welfare Benefits Administration Service of the Deputy Ministry of Social Welfare.

Held since 2006, OEB’s innovation awards recognise the successful application of innovation in Cyprus.

Five scientists received RIF’s research awards, recognising scientific achievement and the commercial use of research findings:

• Distinguished Researcher, Social Sciences and Humanities: Professor Kostas Fanti of the University of Cyprus.
• Young Researcher, Physical Sciences and Engineering: Dr Anastasia Antoniou, a postdoctoral fellow at the Cyprus University of Technology.
• Young Researcher, Life Sciences: Dr Myrofora Panagi, a postdoctoral researcher at the University of Cyprus.
• Young Researcher, Social Sciences and Humanities: Dr Marina Charalambous, a member of the Special Teaching Staff at the Cyprus University of Technology.
• Commercial Exploitation of Research Results: Dr Dimitris Kyriakou, founder and CEO of EFEVRE TECH LTD.

Addressing the ceremony, Christodoulides reaffirmed the government’s support for businesses investing in new ideas and technologies. He described research and innovation as strategic priorities for developing a more internationally competitive Cypriot economy.

OEB President Giorgos Pantelides emphasised innovation’s contribution to business competitiveness and called for support for entrepreneurial initiatives that turn ideas into new products and services.

Chief Scientist and RIF Chairman Demetris Skourides highlighted the importance of connecting research with business, encouraging closer collaboration so that scientific knowledge can generate new opportunities for growth.

The ceremony received support from the Deputy Ministry of Research, Innovation and Digital Policy. OEB’s innovation awards also form part of European SME Week.

Overview

Mindset Talks Vol. 9 will take place from 27 to 29 November 2026 at Aliathon Resort in Paphos, bringing together more than 40 speakers from Cyprus and abroad for three days of business and personal development discussions, workshops and networking.

Organised by Growth Hacking Cyprus, the ninth edition will explore entrepreneurship, leadership, professional development and personal growth, combining presentations with practical workshops and opportunities for participants to exchange experiences.

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The event will be conducted entirely in Greek, with the main conference taking place on 28 and 29 November.

What To Expect

This year’s programme combines a two-day conference with 10 workshops, a Business Fireside Chat and networking activities.

Friday, 27 November, will feature four workshops and a Business Fireside Chat, with the latter reserved for VIP Gold ticket holders.

Six additional workshops will follow on Saturday morning, offering participants the opportunity to explore different subjects through smaller group sessions and practical activities.

The main conference will begin on Saturday afternoon and continue on Sunday, featuring speakers from business, technology, education, psychology, marketing and other professional fields.

A Saturday evening party is also scheduled, with access depending on the ticket package.

This year’s event centres on the concept of a growth mindset, encouraging participants to learn from both successes and setbacks, reconsider their approaches to challenges and identify steps towards personal and professional development.

Speaker Line-Up

The current speaker line-up includes Demetris Skourides, Chief Scientist for Research, Innovation and Technology of the Republic of Cyprus, and Pambos Efstratiou, Director General of the Human Resource Development Authority of Cyprus.

Among the business and technology speakers are George Malekkos, CEO of Powersoft Computer Solutions; Dr Savvas Hadjichristofis, Professor of Artificial Intelligence at Neapolis University Pafos; Nikos Xydas, founder of Humble Agency; and Alexios Vandoros, entrepreneur and host of the Game of Money podcast.

Other speakers include Zoe Fragkou, organisational psychologist, business coach and founder of Fragoulous Minds; Stefanos Xenakis, entrepreneur and author; Dimitris Dimitriadis, futurist; Marianna Hadjiantoniou, founder of PERHA Group; and Pantelis Moiseos, founder of MSP Business Coaching.

The programme also features professionals from communications, personal development, health, education and sport, offering participants perspectives from different industries and professional backgrounds.

Who Should Attend

Mindset Talks Vol. 9 is aimed at entrepreneurs, business owners, executives, professionals and individuals interested in leadership, entrepreneurship and personal development.

The programme may also appeal to those looking to develop communication skills, explore different approaches to business growth and learn from the experiences of professionals across several industries.

Dates And Programme

Friday, 27 November 2026

The event begins with four workshops and the Business Fireside Chat, with sessions scheduled from 16:00 to 20:30.

Saturday, 28 November 2026

Six workshops are scheduled during the morning and early afternoon, followed by the main Mindset Talks conference. A Saturday evening party is also planned, beginning at 21:30.

Sunday, 29 November 2026

The main conference continues, with the published programme listing sessions from 09:00 to 19:45.

All activities will take place at Aliathon Resort in Paphos.

Tickets And Registration

Tickets for the main conference start at €89 per person.

Accommodation packages are also available, combining conference admission with either two or four workshops, depending on the package selected.

VIP Gold packages include accommodation, access to the Business Fireside Chat and additional conference benefits, including designated seating and VIP access to the Saturday evening party.

Participants are advised to check the available packages and workshop arrangements before booking.

Tickets, the full speaker line-up and further programme information are available through the official Mindset Talks Vol. 9 event page.

About Growth Hacking Cyprus

Growth Hacking Cyprus, founded by Anastasis Charalambous, organises business networking events, conferences and educational activities bringing together entrepreneurs, professionals and speakers from different industries.

Its activities focus on business development, professional networking and knowledge sharing, including the annual Mindset Talks conference series.

Competitive gaming can help children build skills, find community and pursue achievement. However, as esports grows, young players face health, psychological and online safety risks, often without consistent safeguards, according to a new report from Save the Children.

The report, Protecting Child Rights in Esports, estimates that up to 300 million children worldwide participate in esports. It calls on the industry to prioritise the rights set out in the United Nations Convention on the Rights of the Child over competitive ambitions.

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Potential risks include disrupted sleep, musculoskeletal pain, anxiety, depression, sexism and online harassment. Intensive training can also leave less time for education, family and friends.

“Esports offers exciting opportunities for children, but participation should never come at the expense of their rights, wellbeing or development,” said Theo Toresson, a psychologist and gaming expert at Save the Children.

Children must be treated “as children first and competitors second”, he added, calling for their involvement in decisions that affect them.

Training Standards Remain Uneven

The report highlights the lack of widely established standards for training hours and methods. Extended periods of sitting, insufficient breaks and schedules that interfere with sleep, exercise and schoolwork can affect young players’ health and development.

Poor posture and long sessions may also cause neck, shoulder and wrist pain, while late-night gaming can undermine sleep, concentration and mood.

Although some organisations provide guidance on breaks, nutrition, sleep and hydration, a representative of a national esports federation told the report that this advice often draws on separate studies rather than a centralised set of guidelines.

The report also notes positive findings: many professional esports players report satisfactory levels of physical activity, and higher-ranking players often place greater emphasis on fitness.

Online Harassment Adds To Mental Health Risks

Gaming communities and livestreaming platforms can help young players build connections and public profiles, but they may also expose them to cyberbullying, discrimination and privacy violations.

An analysis cited in the report examined chatrooms across 302 gameplay segments involving the 20 most popular Twitch streamers. It found sexist language in 62% of streams, racist language in 37%, ableist language in 84% and violent language in 97%.

Some esports federations and teams require staff to receive mental health first-aid training, but the practice remains uncommon. Young competitors may also face public scrutiny through livestreams, interviews and social media before they have the support to manage it.

Safeguards Must Extend Beyond Gameplay

The report raises further concerns about unequal participation linked to gender, race, LGBTQIA+ identity and disability. It also highlights children’s limited involvement in decisions affecting them and the risk of economic exploitation by teams, agents or parents, particularly where contracts lack transparency.

Inadequate supervision at live events presents additional risks.

Save the Children argues that protecting young competitors requires more than advice on posture and screen breaks. Clear standards, responsible oversight and age-appropriate safeguards are needed to ensure esports supports children’s development rather than putting it at risk.

As competitive gaming expands, the industry faces growing pressure to make children’s rights and wellbeing part of its operating standards.

Cyprus is preparing a renewed effort to attract international companies and skilled professionals, with the government targeting Cabinet approval by December 2026 and implementation beginning in 2027.

The proposed Business and Talent Attraction Strategy for 2027–2030 is designed to draw new investment, support the expansion of companies already operating on the island and increase the contribution of international businesses to the Cypriot economy. Its specific measures have yet to be finalised.

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A Strategy Shaped With Business Input

Energy, Commerce and Industry Minister Michalis Damianos outlined the government’s plans at the first consultation workshop, which brought together businesses, universities, banks and public authorities.

According to the ministry, Damianos emphasised that the strategy should be developed in close consultation with investors and other stakeholders. The goal is to shape measures around the practical needs of the businesses expected to use them, rather than designing support without their input.

At Monday’s workshop, ministry Permanent Secretary Marios Panayides reviewed progress under the existing strategy, explained the role of the Business Support Centre and presented the proposed framework for 2027–2030. Participants included companies operating in Cyprus, universities, banking institutions, government ministries and Invest Cyprus, whose representatives sit on the technical committee reviewing the strategy.

Building On Existing Business Support

A central element of the government’s approach is the Business Support Centre, which assists local and international investors seeking to establish or expand operations in Cyprus.

The centre began operating in May 2025 and incorporates the Business Facilitation Unit. Established in 2022, the unit is intended to simplify administrative processes and help companies navigate requirements related to registration, licensing and employment.

The new strategy builds on the framework introduced in 2022, which aimed to strengthen Cyprus’s competitiveness through investment incentives, more accessible recruitment of skilled professionals from outside the European Union and more efficient business registration procedures.

Investor Interest Meets Practical Challenges

The initiative comes as Cyprus seeks to convert investor interest into sustained economic activity. In the EY Cyprus Attractiveness Survey 2026, 83% of international investors surveyed described the island as an attractive investment destination. Meanwhile, 62% of businesses already operating in Cyprus said they planned to expand over the following 12 months.

That optimism exists alongside persistent obstacles. High energy costs, bureaucracy and access to finance remain concerns for investors. How effectively the government addresses these issues will influence whether companies choose to establish or grow their presence on the island.

Consultations Continue Through October

A second workshop is scheduled for Thursday, October 29, bringing together chambers of commerce, professional associations, organised business groups and professional services companies. Feedback from both sessions will inform the government’s final proposal, which is scheduled to go before the Council of Ministers in December 2026.

The consultations form part of the government’s ongoing dialogue with the business and investment community, launched at the initiative of President Nikos Christodoulides. The process is intended to identify measures that reflect business needs while supporting employment, investment and broader economic growth.

For now, the government has not published the proposed measures. Their scope and detail will depend on the consultation process—and on how successfully the final strategy translates investor interest into long-term business activity in Cyprus.

Cyprus is generating more tourism revenue despite shorter stays, but declining arrivals and accommodation nights point to growing pressure on the island’s traditional tourism model. As the industry looks towards 2027, attracting visitors may increasingly depend on offering experiences beyond sun and beaches.

Tourism revenue rose 4.6% year on year to €536.5 million in July, despite a 1.1% drop in arrivals. Visitors spent more per day, but the average stay shortened from nine nights to 8.6.

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Across the first seven months of 2026, tourism revenue fell 7% to €1.76 billion, while arrivals in the first nine months declined 5.6%.

Cyprus Lags The European Market

According to Eurostat, nights spent in tourist accommodation in Cyprus fell 7.7% in the first half of 2026, the steepest decline in the EU. By comparison, Malta recorded a 9.9% increase, while accommodation nights across the bloc rose 1.7%.

Foreign visitors accounted for 92.6% of all nights spent in Cyprus’s tourist accommodation, leaving the island highly exposed to changes in international demand.

Travellers Want More Than A Beach Holiday

Research from Booking.com suggests that personal experiences will play a growing role in travel decisions. Based on responses from 28,230 people across 32 countries and territories, the study found that 81% would choose a destination based on how they want to feel, rather than simply where they want to go.

Culinary tourism and traditional crafts also attracted interest, with 74% of respondents interested in food experiences and 68% drawn to activities such as pottery, textiles and wood carving.

For Cyprus, this creates an opportunity to promote village tourism, wineries, local cuisine and traditional crafts alongside established resort holidays. The island already has seven wine routes connecting visitors with vineyards and communities, including in the Commandaria region and the Troodos mountains.

Making these experiences easier to discover and book could help hotels and tour operators direct more spending towards local businesses and destinations beyond the main resorts.

Flexibility And Wellbeing Shape Travel Choices

Price remains another consideration. Booking.com found that 66% of respondents preferred holiday packages that allow them to remove services they do not expect to use, suggesting that some travellers want greater control over costs.

Wellbeing is also influencing decisions: 79% considered healthier hotel food important, while 85% said they had returned from a holiday feeling more tired than when they left.

These preferences could create opportunities for wellness retreats, walking holidays and countryside accommodation, particularly outside the peak summer season.

Longer Stays Can Matter More Than Daily Spending

Tourists’ economic contribution also depends on how long they stay. Cyprus Statistical Service figures show that visitors from Israel spent an average of €158.19 per day in July, compared with €110.46 for British visitors and €92.27 for Polish visitors.

However, British tourists stayed an average of 10.3 nights, compared with 4.7 nights for Israeli visitors. Total spending per trip reached €1,137.69 for British visitors and €743.49 for Israeli visitors.

The figures highlight a strategic choice for the industry: whether to prioritise higher daily spending, longer stays or a combination of both.

Early Bookings Raise Questions For 2027

Cyprus welcomed a record 580,889 tourists in September, up 1.8% year on year. Nevertheless, arrivals from January to September totalled 3.4 million, down 5.6% from the same period in 2025.

The UK remained the largest source market in September, accounting for 31.7% of arrivals, followed by Israel at 18.1%.

Looking ahead, Paphos hoteliers association president Evripides Loizides said advance bookings for 2027 through Britain’s three largest tour operators were 20% to 30% below the levels recorded a year earlier. Although early bookings do not determine the full season’s outcome, they highlight the uncertainty facing an industry affected by household budget pressures and intensifying competition.

Connecting Cyprus To A Changing European Market

An October survey by the European Travel Commission found that 34% of respondents across seven major overseas markets planned to visit Europe between September and December, down from 38% a year earlier.

Among those planning to travel, 66% intended to visit at least two European countries, with an average itinerary covering 2.7 countries.

For Cyprus, attracting these travellers may be more challenging than for destinations connected by Europe’s road and rail networks. Air connectivity, travel costs and the ease of combining the island with other destinations will remain important considerations.

Measuring Tourism By Its Economic Impact

The World Travel & Tourism Council expects international arrivals in Europe to reach 1.14 billion by 2036, up from 757.3 million in 2025. It has also called on destinations to focus more on tourism’s economic contribution, connectivity, visitor management and environmental pressures.

Cyprus is continuing to invest in its tourism offer. Deputy Minister for Tourism Kostas Koumis presented a €59.4 million budget for 2027 to parliament on October 23, with around 62% allocated to promoting the island and improving its tourism product. He also noted that the decline in arrivals had narrowed from 17.9% at the end of April to 5.6% by September.

The improvement offers some encouragement, but sustaining growth may require a broader approach. Promoting rural communities, supporting local businesses and attracting visitors outside the summer peak could help Cyprus generate more value from tourism without relying solely on increasing arrival numbers.