Cyprus residents are on track to make around 2.1 million trips abroad in 2026, up from 1.96 million last year, according to the Association of Cyprus Travel & Tourism Agents (ACTTA).

ACTTA president Charis Papacharalambous said outbound travel is growing by about 7%, meaning the number of trips could exceed two million for the first time.

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He said the increase reflects a broader shift in which international travel has become a regular part of life for Cyprus residents rather than an occasional luxury. Better air connectivity has also expanded the number of destinations and flight options available from the island.

Greece Remains The Top Choice

Around 85% of trips by Cyprus residents are to European destinations, including the UK, while almost 70% are to EU member states.

Greece remains by far the most popular destination, accounting for about 33% of all outbound trips. Italy, Poland, France and Germany are also among the leading choices, while Spain and Romania have recorded notable increases in demand.

Long-haul travel is gaining ground as well. Japan has become increasingly popular over the past two to three years, particularly among older travellers and families with older children. Thailand is also regaining interest after a period of weaker demand.

Inbound Tourism Faces A Mixed Picture

While outbound travel is growing strongly, Cyprus’ inbound tourism performance has been more uneven. July arrivals were close to last year’s level, but several key European markets remained below their 2025 figures.

British arrivals were around 11% lower for the year so far, while arrivals from EU countries were down by approximately 9.5%.

A sharp increase in visitors from Israel has partly offset these declines. Around 80,000 to 90,000 more Israeli visitors arrived over the past two months than during the same period last year, with arrivals from the market rising by about 165% in June.

However, Israeli tourists generally stay for shorter periods than European visitors, meaning the increase in arrivals does not translate into the same growth in overnight stays.

Winter Tourism Remains A Challenge

Papacharalambous identified winter tourism as one of Cyprus’ biggest long-term challenges. While efforts are already underway to develop the market, he said they remain fragmented and lack a consistent long-term strategy.

A stronger winter tourism sector would require clear planning and conditions that give businesses and investors confidence to commit to Cyprus for the long term.

Looking ahead to 2027, Papacharalambous said reliable forecasts remain difficult because of the continuing geopolitical uncertainty in the region. The wider regional situation remains uncertain.

Cyprus could strengthen its position as an international financial centre by treating its European regulatory framework as a competitive advantage rather than simply a compliance cost, according to Kyriacos Antonaki, Head of AML & Compliance at KENDRIS Capital Limited.

In an analysis published by the Cyprus Investment Funds Association, Antonaki says investors are increasingly prioritising governance, transparency, resilience and regulatory credibility alongside financial performance.

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Regulation Becomes A Competitive Factor

Financial centres have traditionally competed through flexibility, speed and lower regulatory barriers. That model is becoming less attractive as geopolitical uncertainty, sanctions risks and financial crime concerns increase.

For investment funds and financial firms, investors are now paying greater attention to governance, compliance systems and the quality of supervision in the jurisdictions where they operate.

This could work in Cyprus’s favour. EU rules covering investment funds, financial markets, operational resilience and anti-money laundering have increased compliance requirements but also created greater consistency and predictability.

Cyprus Can Leverage Its EU Position

As an EU and eurozone member, Cyprus combines access to the European regulatory and passporting framework with a competitive business environment, an established professional services sector and a strategic location between Europe, the Middle East and Asia.

For smaller financial centres, the opportunity lies not in competing with larger markets on scale, but in offering adaptability, responsiveness and specialised expertise.

Trust Over Regulatory Arbitrage

Antonaki argues that international firms are increasingly looking beyond the lowest costs and towards jurisdictions offering efficiency, market access, stability and regulatory credibility.

However, EU alignment alone will not be enough. Effective supervision, strong governance, professional expertise and consistent implementation will determine whether Cyprus can turn regulation into a lasting advantage.

He also stresses the importance of proportionality, warning that excessive compliance costs could undermine competitiveness, particularly for smaller businesses.

The broader shift is therefore away from competing through lighter regulation and towards building institutional trust. For Cyprus, its EU regulatory status could become not a constraint, but one of the strongest selling points for international investors and financial firms.

Top Kinisis Travel Public Ltd will review its financial performance for the first six months of 2026 at a board meeting scheduled for September 23. Directors will examine the company’s unaudited consolidated results for the period.

Shareholders Approved 2025 Dividend

The upcoming meeting follows the company’s annual general meeting, held at its Strovolos headquarters on June 11. Shareholders approved the consolidated financial statements for 2025 and a dividend of €0.01 per ordinary share, amounting to €122,120.11 in total.

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The dividend was scheduled for payment on July 24 to shareholders registered with the Cyprus Stock Exchange as of June 26. Investors had to complete their purchases by June 24, with the shares trading ex-dividend from June 25.

Board And Audit Decisions

Shareholders also re-elected Elena Tanou, Constantinos Kakkouras, Nicolaos Pissas and Panayiotis Papanicolaou to the board after their formal resignations.

Board members will receive €100 per meeting, while the chairman’s fee was set at €150. Baker Tilly was also re-appointed as the company’s auditor until the next annual general meeting, with the board authorised to negotiate its fees.

Cyprus collected and spent €5.43 billion by the end of July 2026, keeping state revenue and expenditure at the same absolute level halfway through the budget year. Revenue had reached 50% of the annual target, compared with 47% for expenditure.

Compared with the first seven months of 2025, both revenue and spending increased by €260 million. Stronger tax receipts were the main reason for the rise in revenue, while higher operating costs, transfers, grants and social benefits pushed expenditure up.

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Tax Receipts Provide A Major Boost

VAT collections rose by €200 million year-on-year to €1.98 billion, while direct tax revenue increased by €150 million to €1.95 billion. Income tax paid by companies and individuals accounted for most of the increase in direct taxation.

The stronger tax performance has helped the government accommodate higher spending without creating a significant deterioration in the mid-year budget position.

Social Spending And Transfers Rise

The increase in expenditure was not driven by public sector salaries and pensions, which remained broadly unchanged at €1.90 billion.

Instead, social benefits reached €1.13 billion, up €70 million from a year earlier, with additional spending directed towards healthcare, education, housing and welfare. Transfers and grants also increased by €80 million to €1.13 billion.

Operating costs climbed by €120 million to €530 million, partly reflecting higher spending on defence and policing, as well as consultancy and research services.

Development Spending Moves Faster

Capital expenditure reached €165.7 million by July, with 32% of the development budget executed compared with a 28% average for the same period over the past decade.

Major allocations included roads, construction projects, government and school buildings, equipment, and water and sewerage infrastructure.

EU-backed programmes are also supporting areas such as home energy upgrades, sustainable transport, electric mobility, digital transformation and skills development.

Debt Repayments Surge

One of the biggest changes came from public debt transactions. Government borrowing inflows reached €1.31 billion, while loan repayments and related outflows exceeded €2.1 billion.

Foreign debt repayments accounted for €2.06 billion, compared with just €60 million during the same period in 2025. Despite the much larger repayments, financing costs remained broadly stable at around €430 million.

A Balanced Mid-Year Picture

Overall, Cyprus’s public finances remain broadly on track. Rising VAT and income tax receipts are supporting higher social, operational and development spending, while the public-sector wage bill remains relatively stable.

The headline €5.43 billion balance between revenue and expenditure therefore tells only part of the story: beneath it, tax collection is strengthening, investment spending is progressing faster than usual, and debt-related cash flows have increased sharply.

Eurobank S.A. spent €5.88 million repurchasing more than 1.3 million of its own shares on Euronext Athens between August 17 and August 21, 2026.

The purchases are part of the bank’s ongoing share buyback programme, approved by shareholders at the annual general meeting on April 28 and launched following a public announcement on June 10.

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More Than 1.3 Million Shares Repurchased

During the five-day trading period, Eurobank bought 1,312,998 shares for a total of €5,882,204.05, at an average price of about €4.48 per share.

The transactions were carried out on Euronext Athens through Eurobank Equities Single Member Investment Firm S.A.

Daily purchases were as follows:

• August 17: 257,693 shares for €1.16 million, at an average of €4.4951 per share.
• August 18: 271,616 shares for €1.22 million, averaging €4.4929.
• August 19: 323,887 shares for €1.44 million, the largest daily purchase, at an average of €4.4336.
• August 20: 237,344 shares for €1.06 million, averaging €4.4646.
• August 21: 222,458 shares for €1.01 million, at an average of €4.5305.

Eurobank’s Share Holdings Increase

The buyback programme was formally established through a board resolution adopted on April 29, following shareholder approval and the relevant legal framework.

After the latest purchases, Eurobank holds a total of 22,500,675 of its own shares.

Saving for a home deposit in Cyprus is becoming increasingly difficult as property prices rise faster than household savings. A new analysis by BestBrokers estimates that a typical 108-square-metre home costs around €305,296. A 20% deposit would therefore require about €61,059.

Average Salary Does Not Tell The Full Story

Based on an average gross monthly income of €2,603, the deposit equals roughly 23 months of salary. In reality, however, buyers must cover rent, food, transport and other expenses.

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Cyprus’ median monthly salary was €1,968 in 2025, while one in three employees earned less than €1,500 in the first quarter of 2026. At the median salary, the deposit represents around 31 months of gross income.

Someone earning €1,500 would need more than 40 months of pay. Saving 20% of the median salary each month would take almost 13 years to reach €61,059, assuming property prices did not rise.

Mortgage Costs Add To The Pressure

A 20% deposit is broadly consistent with current mortgage conditions. Bank of Cyprus’ first-home loan offers financing of up to 80%. For a €305,296 property, the mortgage would be about €244,237. At an average new mortgage rate of 3.28% in June, a 30-year loan would cost approximately €1,067 per month if the rate remained unchanged.

That would absorb more than half of the median gross salary before taxes and living expenses.

Location And Property Type Matter

New-build prices vary significantly across Cyprus. During the first half of 2026, the average transaction reached €319,618, while the median was €232,500. A 20% deposit based on median new-build prices would be around €37,000 in Nicosia, €38,000 in Larnaca, €45,000 in Famagusta, €60,600 in Limassol and €72,000 in Paphos.

Apartments remain more affordable than houses, with a median new-build price of €215,000 compared with €365,000 for houses. That means deposits of roughly €43,000 and €73,000 respectively.

Prices Rise Faster Than Savings

Apartment prices increased 10.8% year-on-year in the first quarter of 2026, according to Central Bank of Cyprus data, while house prices rose 3%.

At the same time, average household savings rates stood at just 1.42% in June, leaving savers struggling to keep up with property prices. Government support has also attracted strong demand. A housing scheme offering grants of up to €50,000 to people aged 41 and under received 1,018 applications for its initial 400 places. An additional €11 million was later approved for another 277 applicants.

Cyprus Remains Mid-Ranked In Europe

Despite the affordability challenges, Cyprus compares relatively well with several European markets. A 20% deposit represents around 23 months of gross income, compared with 24 months in the UK, Malta and Spain, 29 in Greece and 30 in Portugal.

Cyprus and Croatia also recorded one of Europe’s lowest housing-cost overburden rates, at 2.6% of urban residents spending at least 40% of disposable income on housing, according to Eurostat.

Cyprus has become increasingly attractive to digital nomads and international professionals, thanks to its mild climate, quality of life, digital infrastructure and business-friendly environment. Many of them live on the island while working remotely for companies or clients abroad, bringing foreign income into the local economy.

To support this trend, the Cyprus Civil Registry and Migration Department has increased the digital nomad visa quota to 1,000 permits for non-EU nationals. Applicants must have a minimum net monthly income of €3,500, helping to target relatively highly paid professionals.

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Foreign Income And Local Spending

Digital nomads typically stay much longer than traditional tourists, sometimes for months or even years. Their spending on accommodation, healthcare, education, transport, restaurants and entertainment therefore provides a steady boost to local businesses.

Studies cited in the source estimate that an individual digital nomad spends between €1,600 and €2,200 per month. If all 1,000 visa places were used, the Cyprus Chamber of Commerce estimates the programme could generate more than €10 million annually.

Beyond consumption, the arrival of international professionals can support new business networks, knowledge-sharing and innovation, strengthening Cyprus’s ambitions to become a regional business hub.

Economic Benefits Have Their Limits

The growing digital nomad population also raises questions about the sustainability of this model. While foreign income and additional consumer spending benefit the economy, they cannot replace investment in productive industries, stable employment and long-term innovation.

Housing is one of the biggest concerns. Rising demand from international professionals is adding pressure to an already expensive property market. Eurostat data shows that the index for actual rental payments in Cyprus reached 103.95 points in May 2026, while the Central Bank reported a 7.07% year-on-year increase in residential property prices.

For many Cypriots, particularly younger workers, higher rents and property prices are making it increasingly difficult to afford housing.

Cyprus Needs More Housing, Not Just Less Demand

Restricting demand from foreign professionals alone is unlikely to solve the problem. A broader response should focus on increasing the supply of homes, speeding up development approvals and allowing greater residential density where appropriate.

Expanding affordable housing for young people and families could also ease pressure, while better transport connections would make areas outside the most expensive urban centres more attractive for permanent residents.

Digital nomads can therefore be an important source of foreign income, skills and international connections for Cyprus, but they should remain part of a wider economic strategy. The challenge is to attract international talent while ensuring that economic growth remains sustainable and housing stays accessible to local residents.

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

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Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.

Nevada is preparing for a major expansion of autonomous ride-hailing. The Nevada Transportation Authority unanimously approved permits for Tesla, Uber and Waymo to operate commercial robotaxi services in Clark County, home to Las Vegas.

Together, the permits allow the companies to deploy up to 8,000 robotaxis over the next 12 months. Tesla received approval for up to 5,000 vehicles, while Waymo and Uber were each granted permits for 1,000. Uber will operate its robotaxis through partnerships with Motional and Zoox, which already has approval to operate 100 autonomous vehicles.

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Tesla Expects A Smaller Rollout

Despite the size of the permits, the companies may deploy far fewer vehicles than the maximum allowed.

Tesla chief Cybercab engineer Eric Early said the 5,000-vehicle limit was intended as a ceiling and that the company would be satisfied with reaching around 2,500 vehicles, or somewhat more, within the next year.

Even a rollout at half the permitted capacity would make Las Vegas a major battleground for autonomous ride-hailing, with Tesla, Waymo and Uber competing for passengers.

Concerns Over Jobs And Congestion

The expansion could also reshape Las Vegas’s transportation workforce. Supporters argue robotaxis will create new jobs focused on maintaining, charging and cleaning autonomous vehicles, while opponents warn they could threaten jobs held by taxi and gig drivers.

Representatives of the Livery Operators Association and local taxi companies opposed the permits, citing concerns about market oversaturation and increased traffic, particularly around the Las Vegas Strip and airport area.

Uber Pushes A Hybrid Model

Uber has advocated for a gradual transition in which human-driven vehicles and robotaxis operate alongside each other. During the hearing, the company argued that a hybrid model would allow cities to add autonomous vehicles according to demand rather than introducing thousands of robotaxis at once.

For Las Vegas, the approvals mark a significant step toward making autonomous ride-hailing a much larger part of the city’s transportation system.

The Enhanced Games, a controversial sports competition that allows athletes to use performance-enhancing drugs banned in traditional sports, has ended its first event with disappointing results both competitively and financially.

Held in Las Vegas in May, the Games attracted backing from figures including Peter Thiel and executives from the crypto, AI and biotech industries. However, only one world record was set during the event, in swimming.

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Enhanced Group, the company behind the Games, has now reported a net loss of nearly $62 million for the second quarter, with a significant portion of the loss linked to hosting the competition.

Revenue Driven By The Games

Founded in 2023, Enhanced Group went public earlier this year at a valuation of around $1.2 billion. Its core business is a digital telehealth platform offering personalised health treatments, including FDA-approved peptides, testosterone injections and GLP-1 drugs.

The company generated $17.7 million in revenue during the second quarter, but most of it came from sponsorships connected to the Games rather than its telehealth business.

The results also raise questions about plans to make the competition an annual event, as repeating a loss-making format could prove difficult without significantly higher revenue.

A Lower-Cost Strategy

Enhanced Group recently launched Enhanced Breakers, an online sports series that it says operates at a fraction of the cost of a full Games event. The format is designed to keep athletes competing and sponsors engaged while promoting the company’s performance-medicine business throughout the year.

Meanwhile, the broader peptide and performance-medicine industry continues to grow. Silicon Valley has become a hub for startups focused on biohacking and personalised health, while the sector is expanding faster than the regulations governing it.