As Europe continues to be a top destination for global travelers, Greece is among the countries grappling with the challenges of over-tourism. With a surge in visitors to its islands and cultural landmarks, the country is introducing a variety of strategies to protect its rich heritage and ensure sustainable growth in the tourism sector.

In 2025, Greece will continue to push forward with measures aimed at managing the overwhelming number of tourists, including taxes, visitor caps, and stricter regulations on short-term rentals. These efforts are part of a broader European trend as countries across the continent seek ways to balance the economic benefits of tourism with the preservation of their cultural and environmental assets.

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Greece’s Tourism Strategies: Taxes, Fees, And Visitor Limits

Greece is taking a multi-faceted approach to address the challenges of over-tourism, with both increased fees and stricter regulations. Starting in 2025, tourist taxes for hotel stays will range from €1.50 per night for budget accommodations to €15 per night for luxury hotels during peak periods. These rates are designed to balance tourist influx with the need to support the local economy throughout the year.

In addition to the accommodation tax, Greece will impose a €20 landing fee on cruise passengers visiting popular islands such as Mykonos and Santorini. Mykonos, which saw over 1.2 million cruise passengers in 2024, has a permanent population of just 10,000. The fee is aimed at easing the pressure on local infrastructure while ensuring the sustainability of these destinations.

Furthermore, Athens is taking steps to manage short-term rentals in the city center. Starting January 1, 2025, new licenses for short-term accommodations in three central districts will be banned, a measure designed to alleviate housing shortages and reduce pressure on local services. This policy is likely to extend beyond its one-year trial period.

Amsterdam Leads With Green Tourism Policies

While Greece is taking steps to address over-tourism, cities like Amsterdam are leading the way with innovative green tourism policies. In celebration of its 750th anniversary in 2025, the Dutch capital has already implemented one of Europe’s highest tourist taxes—12.5% on accommodation costs. Additionally, Amsterdam has banned buses over 7.5 tons from the city center, and is working towards introducing “non-emission” zones, where scooters and mopeds will be banned.

These measures are part of a long-term strategy to create a more sustainable tourism model, despite the potential short-term rise in costs for tourists. Amsterdam’s focus on green initiatives aims to reduce the environmental impact of tourism, and by 2025, passenger vessels and yachts will be subject to stricter regulations.

Venice’s Tourist Tax And Regulations For Sustainable Growth

Venice, another popular European destination, has also implemented measures to curb over-tourism. In 2024, the city introduced a €5 per-day tourist tax, which will expand to 54 days in 2025, with increased rates for visitors who do not pay in advance. This initiative has raised €2.2 million and reflects Venice’s ongoing effort to balance tourist flows with the needs of its residents.

The city has also tightened regulations for short-term rentals, limiting property owners to renting their homes for only 120 days per year unless they meet specific environmental criteria. These actions are designed to mitigate the pressure of mass tourism while creating a more sustainable environment for both locals and visitors.

Pompeii Takes Action To Preserve Its Legacy

In Italy, Pompeii is stepping up its efforts to manage over-tourism with a daily cap of 20,000 visitors, set to begin in November 2024. During peak seasons, this cap will be further reduced, and visitors will be required to purchase tickets online, ensuring a more controlled and timed entry. These measures follow similar strategies used by cultural institutions like the Acropolis Museum in Athens and the Louvre in Paris, where visitor caps have been successfully implemented to protect cultural heritage.

The UK’s Response To Over-Tourism: New “Tourist Tax” Policies

In the UK, the introduction of the Electronic Travel Authorization (ETA) system will require non-European travelers to apply for entry permission starting January 2025. This £10 fee, which is linked to passports, allows multiple entries over two years and helps manage the flow of international visitors while enhancing security.

Meanwhile, Scotland is exploring the implementation of a 5% tourist tax, which is still under discussion. Cities like Edinburgh and councils in the Highlands have proposed such a tax to curb over-tourism, though its implementation is uncertain for 2025.

Portugal’s Growing Tourist Fees

Portugal is also joining the ranks of countries addressing over-tourism. As of 2025, Lisbon will increase its tourist fee to €4 per night for hotel guests, while Porto’s fee will rise to €3. Several municipalities across the Azores and Madeira have also started imposing tourist taxes, further expanding the trend.

Facing The Big Questions Of Over-Tourism

As European destinations continue to implement measures to manage over-tourism, several important questions arise: Can tourism grow without damaging the cultural and social fabric of popular destinations? Will taxes, visitor caps, and short-term bans help mitigate the negative impacts of mass tourism? And, crucially, how can countries find a balance between economic development and the preservation of cultural heritage?

These challenges will shape the future of tourism in Greece and across Europe, with each country looking for ways to strike that delicate balance. For Greece, these ongoing changes signify a commitment to ensuring that its world-renowned sites and vibrant communities remain sustainable and protected for future generations.

The Cyprus property market has seen an impressive surge in foreign interest over recent years, with thousands of properties being snapped up by international buyers, both from EU member states and beyond. According to the latest figures from the Department of Lands and Surveys, a staggering 37,000 properties were sold to foreign nationals between 2021 and the end of 2024, underscoring the growing appeal of the island’s real estate market.

During the same period, Cypriot nationals continued to dominate the local market, purchasing over 200,000 properties. Yet, it’s the foreign buyers who are making a notable impact, with UK nationals consistently leading the pack, followed by Russians, Israelis, Greeks, and Lebanese.

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The figures, which were presented to the House of Representatives by Interior Minister Constantinos Ioannou, offer a detailed breakdown of property acquisitions, including buyer nationality and district. Let’s take a closer look at the trends across various regions of Cyprus.

Nicosia: Greeks, Britons, And Australians Take The Lead

In the capital, Nicosia, Greek nationals have emerged as the top foreign buyers, securing 1,626 properties between 2021 and 2024. This includes 272 properties purchased via sales agreements and 1,354 through completed sales. UK nationals are a close second with 1,584 properties, while Australians round out the top three with 545 properties.

However, despite the strong foreign presence, Cypriots remain the dominant force in Nicosia’s property market, holding an impressive 98,205 properties compared to just 5,236 owned by foreigners.

Limassol: Russians, Britons, And Israelis Fuel Growth

Limassol has become a hotbed for foreign property purchases, with Russian nationals leading the charge. Over the four-year period, they secured 2,561 properties, with 1,269 purchased via sales agreements and 1,292 from completed sales. UK nationals followed with 1,840 properties, while Israelis also showed strong interest, buying 1,154 properties.

Cypriots continue to make up the bulk of property owners in Limassol, with over 62,000 local purchases, but foreign buyers have clearly made their mark in this coastal city.

Paphos: A Favourite Among Britons, Russians, And Israelis

The town of Paphos has also seen an influx of foreign buyers, with the UK topping the list once again. British nationals acquired 4,483 properties in Paphos between 2021 and 2024, followed by Russian nationals with 1,563 properties and Israelis with 1,291 properties. The total number of foreign property purchases in Paphos exceeds 10,000, while Cypriots secured 28,484 properties during the same period.

Larnaca: Lebanese, Britons, And Israelis Drive Sales

Larnaca’s property market has attracted significant foreign interest as well, with UK nationals at the forefront, purchasing 2,743 properties. Lebanese buyers rank second with 1,744 properties, while Israelis follow closely with 1,406 acquisitions. Over the four years, Larnaca saw 8,535 foreign property purchases, with Cypriots acquiring a larger share—33,819 properties.

Famagusta: Britons, Greeks, And Lebanese Show Interest

In Famagusta, British nationals again lead the pack with 1,182 property purchases. Greeks and Lebanese nationals follow with 165 and 131 properties, respectively. However, Cypriots continue to dominate the Famagusta market, with 16,966 properties purchased by locals compared to just over 2,000 foreign acquisitions.

The data paints a clear picture: foreign nationals are showing growing interest in Cyprus’ real estate market, particularly those from the UK, Russia, Israel, Greece, and Lebanon. This surge in foreign investment is reshaping the landscape of Cyprus property, offering both challenges and opportunities for local buyers and developers alike.

Abu Dhabi’s state-owned PureHealth Holding PJSC is set to acquire a 60% stake in the Greek healthcare giant Hellenic Healthcare Group (HHG) in a deal valued at around $2.3 billion. This move signals a major shift in the private healthcare sector in Greece and Cyprus.

CVC Capital Partners, currently holding a 35% stake in HHG, will retain its share. At the same time, the founder of the Greek healthcare provider will maintain the remaining ownership, according to the agreement’s details.

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The deal brings together HHG’s impressive portfolio, which includes some of Greece’s most renowned hospitals—Metropolitan, Hygeia, Metropolitan General, and Mitera—alongside key medical facilities in Cyprus, such as Apollonion Private Hospital, Aretaeio, and American Medical Center.

With this acquisition, PureHealth aims to drive growth by attracting more international patients and expanding its operations within Greece and Cyprus. The company has also indicated its interest in further acquisitions in the future.

PureHealth, with a market capitalization of around $11 billion, operates more than 100 hospitals and 300 clinics worldwide, employing over 56,000 staff. Recently, the company expanded its footprint by acquiring Circle Health Group, the UK’s largest private hospital network.

This acquisition aligns with PureHealth’s long-term strategy to generate half of its revenue from outside the Gulf Cooperation Council (GCC) countries. It also supports Abu Dhabi’s broader goals of diversifying its economy beyond oil and expanding its global healthcare presence.

HHG, established in 2018, currently operates 1,630 hospital beds across its network, serving over 1.3 million patients annually. With a workforce of more than 5,359 employees, the group also works with 6,662 doctors. In addition to its hospitals, HHG owns diagnostic centers such as HealthSpot and Platon Diagnosis, along with offering home healthcare services and medical equipment trading.

CVC first entered the Greek healthcare sector in 2017 by acquiring a majority stake in Metropolitan Hospital and has since expanded its portfolio with acquisitions of Iaso General Clinic and the Hygeia Group.

Saudi Arabia is set to significantly increase its official selling prices (OSPs) for crude oil to Asia for March shipments, marking the largest hike since January 2024. This move is driven by tighter supply and rising benchmark prices, largely influenced by OPEC+ production cuts, reduced exports from Iran and Russia, and recent U.S. sanctions on Russian oil.

As the Middle East’s key crude benchmarks continue to surge on the back of limited Russian supply to major Asian markets like China and India, Saudi Arabia’s state-owned oil giant, Aramco, is expected to raise its flagship Arab Light grade prices by up to $2.50 per barrel over Oman and Dubai benchmarks, according to a Reuters survey of Asian refiners. Some refinery sources predict the hike could reach as high as $3 per barrel.

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If the expected increase is confirmed next week, the price of Arab Light could rise to a premium of at least $3.50 per barrel over the Oman/Dubai average, the highest premium since early 2024. This would follow Saudi Arabia’s February price hike, which surpassed expectations due to tightening supply in Asia, exacerbated by ongoing OPEC+ cuts and the decline in Russian and Iranian oil exports.

The surge in Oman and Dubai benchmarks in the past month has been driven by the decrease in Russian and Iranian output, with the U.S. imposing stricter sanctions on Russian oil trade starting January 10. Saudi Arabia typically announces its pricing for the next month by the 5th, setting the pace for other Middle Eastern oil producers’ prices in Asia.

President Donald Trump signed a suite of military-focused executive orders on Monday, rolling back key policies tied to diversity, COVID-era dismissals, and transgender service members. These orders include reinstating troops discharged for refusing COVID-19 vaccines and eliminating Diversity, Equity, and Inclusion (DEI) programs across the armed forces.

Speaking from Air Force One en route to Washington, Trump’s directives signal a return to earlier policies, including a controversial stance on transgender personnel. One order declares that military standards must align with individuals’ biological sex, barring “invented” pronouns while leaving the status of current transgender service members uncertain. Advocacy groups, including the ACLU, have called the measures discriminatory and possibly illegal.

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This policy shift builds on Trump’s 2017 attempt to ban transgender troops, a move later overturned by President Biden in 2021. While Trump cited concerns about costs and unit cohesion, critics argue these decisions sideline capable personnel in a military of over 1.3 million active-duty members.

Missile Defence And Historical Revisions

In addition to personnel policies, Trump signed an order aiming to create a U.S. version of Israel’s Iron Dome defense system. While ambitious, such a program would require years of development. Meanwhile, the Air Force announced the return of its Tuskegee Airmen training video, adjusted to align with Trump’s DEI rollback.

With sweeping changes underway, Trump’s actions reflect his broader vision for a streamlined, ideologically aligned military—though they’re already drawing sharp criticism from advocacy groups and political opponents.

The Government has reaffirmed that all flights operating to and from Paphos and Larnaca airports remain safe.

Responding to concerns about Paphos airport and flight diversions linked to Israeli security measures, Deputy Government Spokesperson Yiannis Antoniou reassured the public via the Cyprus News Agency that the safety of these routes is not compromised. He clarified that the measures in question apply exclusively to airlines with Israeli interests.

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Meanwhile, Israeli media have reported that extraordinary security protocols affecting flights to and from Paphos airport are expected to be lifted this weekend.

Dubai’s real estate sector experienced a significant milestone in 2024, with 110,000 new investors joining the market, marking a 55% year-on-year increase. This surge in investments underscores Dubai’s global leadership in fostering a world-class investment environment that appeals to investors from around the globe and supports the sustainable development of its real estate sector.

The emirate achieved notable success in 2024, recording 217,000 investments valued at AED526 billion, reflecting impressive growth rates of 38% in the number of investments and 27% in value compared to the previous year.

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Marwan Ahmed bin Ghalita, director-general of Dubai Land Department, attributed this success to the resilience and adaptability of Dubai’s real estate market. “These results reflect the city’s ambitious vision and efforts to enhance its attractiveness under the Dubai Economic Agenda D33, which aims to position Dubai among the top three urban economies in the world,” he stated.

Real Estate Transactions Hit AED761 Billion

Dubai’s real estate sector also reached a historic high in 2024, recording a total of 2.78 million transactions, the highest number in its history. This includes both real estate transactions and rental agreements, marking a 17% increase from 2023.

Real estate transactions alone reached 226,000, with a combined value of AED761 billion, a 36% growth in volume and 20% growth in value year-on-year.

“The exceptional results achieved in 2024 reflect the strength and resilience of Dubai’s economy. The Dubai Economic Agenda D33 has played a crucial role in raising the city’s profile as a hub for investment, trade, and innovation, enhancing its appeal as both a lifestyle and investment destination,” said H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai.

Dubai Real Estate Strategy 2033 Drives Sector Growth

The Dubai Real Estate Strategy 2033 continues to elevate the sector, setting new benchmarks for transparency, return on investment, and investor confidence. The strategy has also focused on addressing the diverse needs of the market and fostering growth through innovation and technology.

“The strategy enhances transparency, balances supply and demand, and aims to attract investments from emerging markets. It’s a key factor in Dubai’s efforts to become a leading global real estate hub,” added bin Ghalita.

The Dubai Real Estate Strategy 2033 is also contributing to the broader objectives of the Dubai Economic Agenda D33, with a focus on doubling the city’s GDP by 2033 and increasing the real estate sector’s contribution to this goal.

Dubai: A Global Destination For Real Estate Investment

Dubai continues to strengthen its position as a leading global destination for real estate investment, driven by its vision for sustainable development and innovative technologies. The city’s strategic collaboration between the public and private sectors has set new standards in economic excellence.

“The influx of 110,000 new investors is a clear indication of the growing global confidence in Dubai’s real estate market,” said bin Ghalita. “Our efforts to develop an advanced, technology-driven real estate environment, incorporating artificial intelligence and proptech solutions, are key to boosting operational efficiency and ensuring stakeholder satisfaction.”

Dubai Land Department remains committed to collaborating with both public and private sector partners to reach further milestones, contributing to Dubai’s long-term strategic objectives.

The Abu Dhabi Real Estate Center (ADREC) has reported an impressive 125% year-on-year increase in foreign direct investment (FDI) in 2024, with the sector attracting over AED7.86 billion ($2.14 billion). A total of 2,302 investors from 105 countries, including the US, UK, Kazakhstan, Russia, France, and China, contributed to this surge.

Engineer Rashed Al Omaira, acting director general of ADREC, highlighted the significance of this surge, stating, “The rise in FDI demonstrates Abu Dhabi’s resilience and adaptability in a changing global economy. It underscores the emirate’s investment-friendly environment and world-class infrastructure that ensures sustainable growth.”

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Real Estate Transactions Grow 24.2% In 2024

Abu Dhabi’s real estate sector saw a remarkable 24.2% rise in transactions last year. The market continues to thrive, positioning itself as an attractive destination for global investors. ADREC revealed that 28,249 transactions were completed in 2024, a 10.45% increase in total value, reaching AED96.2 billion ($26.19 billion). The sector included 16,735 sales transactions worth AED58.5 billion and 11,514 mortgage transactions valued at AED37.7 billion.

“The continuous growth of the real estate market reflects our strategy of ensuring stability,” said Al Omaira. “Abu Dhabi’s recognition among the top five global improvers in the 2024 Global Real Estate Transparency Index (GRETI) by JLL reflects our commitment to transparency and trust in the sector.”

38 New Projects Launched In 2024

In line with its growth strategy, Abu Dhabi introduced 38 new real estate projects for off-plan sales and completed 12 major developments in 2024. These projects were carefully selected for their diverse offerings, innovative designs, and affordability, catering to a broad range of investors.

ADREC remains committed to enhancing Abu Dhabi’s position as a global investment hub, with initiatives focused on driving sustainable development and improving the quality of life for residents.

High ROI Areas In Abu Dhabi’s Real Estate

Several areas in Abu Dhabi’s real estate market stood out in 2024 for offering strong returns on investment (ROI), according to Bayut’s Abu Dhabi Annual Property Market Reports.

• Al Reef provided the highest average ROI for budget-friendly apartments at 8.64%.
• Al Ghadeer followed closely, with an 8.41% ROI for affordable apartments.
• Yas Island was the top choice for luxury apartments, offering a 7.07% ROI.
• Al Raha Beach also proved popular for high-end apartments with a 6.09% ROI.
• For budget-friendly villas, Hydra Village led with an 8.09% ROI.
• Al Ghadeer again offered a solid return of 6.53% in the affordable villa category.
• Yas Island emerged as the top destination for luxury villas, with an ROI of 6.28%, closely followed by Al Raha Gardens with a 6.23% ROI.

Popular Off-Plan Projects In 2024

Abu Dhabi’s off-plan real estate market continued to attract investors in both affordable and luxury segments.

• Affordable Apartments: Top choices included the City of Lights on Al Reem Island, Al Reeman 1 in Al Shamkha, and the eco-friendly Royal Park in Masdar City.
• Luxury Apartments: Yas Bay on Yas Island, Saadiyat Island’s Cultural District, and Al Maryah Vista on Al Maryah Island stood out for their luxury offerings.
• Affordable Villas: Investors showed interest in Reem Hills on Al Reem Island, Bloom Living in Zayed City, and Al Reeman 2 in Al Shamkha.
• Luxury Villas: The opulent Saadiyat Lagoons on Saadiyat Island and Yas Acres on Yas Island were the top picks for those seeking high-end villa options.

Abu Dhabi’s real estate market continues to thrive, offering numerous opportunities for investors across diverse segments. ADREC’s initiatives are designed to ensure long-term growth and sustainability for the sector.

At the World Economic Forum in Davos, Barclays Europe CEO Francesco Ceccato discussed the challenges of financing the AI revolution and the fragmented capital markets in Europe. 

Ceccato stressed that no single company or government can fund the massive infrastructure and energy requirements needed to support AI growth. His comments came shortly before US President Donald Trump announced a groundbreaking joint venture, Stargate, with OpenAI, Oracle, and SoftBank, which will allocate up to $500 billion (€480 billion) in AI investments over the next four years.

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The Urgent Need For Investment In AI And Energy Infrastructure

Ceccato linked his comments to the latest Barclays AI report, which highlights the growing importance of AI in boosting productivity, especially as populations age and productivity declines. “This year, we are focusing on how to address the energy demands that come with AI investments,” he explained.

He emphasized the need for substantial energy investments to support AI infrastructure, noting that AI applications require immense computing power. For instance, developments in supercomputers—such as Elon Musk’s energy-hungry AI systems—highlight the scale of energy consumption involved.

Ceccato also referenced data from the International Energy Agency (IEA), which predicts that by 2030, data centers worldwide will require 1,000 terawatt hours (TWh) of energy to run AI operations. “Energy infrastructure is crucial to supporting AI,” he added.

Is Europe Ready For The Investment Challenge?

Ceccato called for Europe to step up its investment in AI infrastructure, stressing that governments alone cannot shoulder the financial burden due to fiscal constraints. “The capital markets need to play a role,” he noted but pointed out that Europe’s capital markets are fragmented, calling for urgent reforms to ensure they can meet the demands of the AI boom.

Sustainability: A Long-Term Commitment

The Barclays CEO also touched on sustainability, explaining that the transition to cleaner energy is a gradual process, not an immediate shift. “Getting to cleaner energy is a dial, not a switch,” Ceccato said. He reaffirmed Barclays’ commitment to supporting clients through financing and advice on sustainable practices, while also aiming to contribute significantly to the bank’s target of $1 trillion in sustainable and transition finance by 2030.

Additionally, he highlighted Barclays’ ongoing support for early-stage cleantech companies that are driving technological advancements to support the global energy transition.

Ceccato’s remarks underscore the need for a collaborative, multi-faceted approach to financing AI and energy infrastructure, one that involves both public and private sectors working in tandem to meet the demands of an evolving global economy.

The World Economic Forum (WEF) has issued a stark warning about the growing fragmentation of the global financial system, which is increasingly driven by geopolitical tensions. In its latest report, Navigating Global Financial System Fragmentation, created in collaboration with Oliver Wyman, the WEF highlights the potentially disastrous economic impact of this trend—one that could rival the costs of the COVID-19 pandemic and the 2008 global financial crisis.

The root cause of this disruption lies in the increasing use of global trading and financial systems to advance national geopolitical agendas. Many countries are implementing industrial policies, sanctions, and other economic tools to assert their influence. According to the London Stock Exchange Group (LSEG), sanctions have surged by 370% since 2017, accompanied by a noticeable rise in subsidies worldwide.

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The Economic Cost Of Fragmentation

The WEF report estimates that global GDP could shrink by as much as $5.7 trillion (around 5%) if fragmentation worsens significantly. The primary culprits behind this decline are anticipated to be reduced cross-border capital flows and declining trade volumes, both of which would lead to diminished economic efficiency.

The report also warns that global inflation could rise by over 5% in extreme fragmentation scenarios.

Despite the challenges, the WEF stresses the need for countries to adopt a framework of economic statecraft that prioritizes sustainable development, cooperation, and global resilience. This approach would help nations protect their sovereignty and security while mitigating the economic damage caused by fragmentation.

Matthew Blake, Head of the WEF’s Centre for Financial and Monetary Systems, emphasized: “The potential costs of fragmentation on the global economy are staggering. Leaders face a critical opportunity to safeguard the global financial system through principled approaches.”

The Impact of Fragmentation On Global GDP And Inflation

The consequences of fragmentation on global GDP and inflation will depend largely on the policies enacted by national leaders. The WEF’s model envisions four potential levels of fragmentation: low, moderate, high, and very high.

In the most extreme scenario—where economic blocs are fully separated—the Western bloc (including the US and its allies) could see its GDP drop by 3.9%, while the Eastern bloc (including Russia, China, and others) would experience a smaller decline of 3.5%. In less severe fragmentation situations, GDP losses would still be significant but lower, ranging from 0.6% to 2.8% for the Western bloc, and from 1.4% to 4.6% for the Eastern bloc.

Countries that fall outside these blocs—such as Brazil, Turkey, and India—could be forced into exclusive trade relationships with whichever bloc is more economically important to them. In the worst-case scenario, these nations could suffer a GDP decline of over 10%.

The Ripple Effect On Global Trade

Fragmentation would also curtail global trade, limiting the flow of goods, services, and capital between blocs. Emerging markets and developing economies, which are heavily reliant on an integrated financial system for growth, would bear the brunt of this disruption.

Matt Strahan, Lead for Private Markets at the WEF, added: “Fragmentation not only fuels inflation but also negatively impacts economic growth prospects, particularly in emerging markets and developing economies that depend on an integrated financial system for their continued development.”

A Call To Action

The WEF’s message is clear: to prevent further fragmentation and safeguard the global financial system, world leaders must work to preserve the functionality of global markets and ensure that countries retain the ability to engage across geopolitical divides. Only through such cooperation can the global economy avoid deeper instability and continue to thrive.