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Cypriot Travelers Favor Additional Experiences, According to Mastercard Research

by THEFUTURE.TEAM

November 26, 2025

Extensive Study Across Europe

A recent in-depth study commissioned by Mastercard reveals that Cypriot travelers are keeping their calendars open for more experiences, even as 2025 draws to a close. Surveying more than 20,000 Europeans across 20 countries, the research underscores the growing trend of consumers postponing final plans until after the year’s end, with many eager to add yet another travel experience before 2026.

Cypriot Travelers: Embracing Additional Experiences

The study shows that nearly half of Cypriot respondents (47%) still have between 7 and 20-plus vacation days available for 2025, with the highest proportion (19%) having 7 to 10 days left unused. In fact, Cyprus leads the pack alongside Switzerland (56%) and Bulgaria (55%) in terms of available leave. This trend reflects a robust culture of experience-seeking, as 71.8% of Cypriots indicated they have one or more experiences they aim to accomplish before the new year.

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Determination and Optimism Across Age Groups

The ambition to seize every available opportunity spans all age groups. Among respondents, 38.2% are set on achieving a single major experience, while 33.6% plan to complete several. Overall, 34.54% believe they are likely to achieve their goals, 26.60% are confident and enthusiastic about their plans, and 36.77% remain hopeful but uncertain. Notably, a significant majority in Cyprus include 71.7% of Generation Z, 74.5% of Millennials, 61.7% of Generation X, and 75% of Baby Boomers, indicating a unified commitment to living life fully across generations.

Travel: The Foremost Experience

The survey further highlights that travel continues to be the foremost experience on the minds of Europeans. Top selections among Cypriots include a dream destination trip (39.55%), trying a new outdoor activity (21.73%), and attending a long-awaited performance or concert (19.78%). Other experiences, such as witnessing a major sporting event (10.45%), dining at a top restaurant (2.65%), or visiting a Christmas market (1.25%), also make periodic appearances among the preferences.

Optimism in the Broader European Context

Comparatively, optimism is even more pronounced among Europeans overall, with over two-thirds (67%) expressing confidence that they will complete at least one target experience by the end of 2025. Countries like Serbia (82%), Sweden (72%), Spain (71%), and France (71%) are highlighted for their strong belief in this trend. Nevertheless, respondents pointed to challenges such as the need for additional savings (23%), the pursuit of the ‘perfect moment’ (13%), and limited free time due to work and commitments (12%) — factors that may hamper the achievement of these experiential goals.

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Tax Department Targets 500 Companies With Over €1 Million In Outstanding Tax Debt

Targeting Major Tax Defaulters

Cyprus’ Taxation Department is preparing to target an initial group of 500 companies with tax arrears exceeding €1 million as part of newly approved enforcement measures aimed at recovering unpaid liabilities. Under the updated framework approved by parliament, businesses with significant outstanding tax debts could face operational suspension and the sealing of their premises.

Debt And Enforcement Timeline

Authorities have identified companies across sectors, including retail, betting, luxury yacht sales and manufacturing, that have failed to settle substantial tax debts despite previous warnings and recommendations. The sealing measure legally applies to businesses owing more than €20,000, although the first phase will focus on companies with the largest outstanding liabilities.

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Officials said affected firms will receive three warnings over a period of 25 days before stricter measures are enforced. The aim is to encourage companies either to fully settle their debts or agree to an instalment plan.

Comprehensive Debt And Collection Measures

Outstanding liabilities include income tax, extraordinary defence contribution, capital gains tax, VAT, withholding taxes and related contributions. The amounts are based either on taxpayer self-assessments or final determinations issued by the tax office after all legal and procedural deadlines have expired.

Enhanced Compliance Through Documentation

The sealing measures will also apply to businesses that fail to issue invoices and receipts, submit inaccurate documentation or obstruct auditors during compliance checks. To support the process, the Taxation Department has procured tablets connected to the relevant software systems, while personnel are undergoing training focused on invoice and receipt verification.

Consequences For Non-Filing Of Returns

The enforcement policy will additionally apply to businesses that fail to submit mandatory tax, VAT and withholding declarations. Taxpayers have until the end of the year to regularise outstanding filings, after which operational suspensions are expected to begin on January 1, 2027.