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Cypriots Stick To Familiar Summer Choices, But Cruises Are Gaining Ground

Cypriots are sticking with familiar holiday choices this summer, with the Greek islands remaining the most popular destination, while Italy and France continue to lead demand across Europe. At the same time, one travel trend is gaining momentum: cruises are becoming an increasingly popular way to spend a summer holiday.

Familiar Destinations Still Lead The Market

According to former Association of Cyprus Travel Agents president Akis Kelepesi, travel preferences have changed little from last year. Greek islands continue to dominate outbound holiday bookings, followed by European destinations, particularly Italy and France.

Rather than shifting to entirely new destinations, travellers are increasingly combining countries within the same trip, such as Italy and Switzerland or Germany and France.

Among the most popular Greek destinations are Rhodes, Crete, Skiathos and Preveza, which also serves as a gateway to nearby islands including Lefkada.

Longer-Haul Travel Is Regaining Interest

Demand is also recovering for long-haul destinations. Kelepesi pointed to growing interest in the Far East, the United States, Northern and Eastern Europe, as well as Poland. Japan has also become a more popular choice this year, reflecting travellers’ willingness to venture beyond the Mediterranean in search of new experiences.

Cruises Move Into The Mainstream

Cruise holidays continue to gain popularity among Cypriot travellers. According to Kelepesi, more holidaymakers are choosing cruises departing from Piraeus for Eastern Mediterranean itineraries or from Rome for routes across the Western Mediterranean.

The appeal lies in the convenience of visiting several destinations within a single trip, combined with predictable costs and fewer logistical arrangements than a traditional multi-city holiday.

Summer Remains Peak Travel Season

July and August continue to account for the bulk of outbound travel. Between 370,000 and 480,000 Cypriots are expected to travel abroad during the two months, compared with an average monthly outbound travel of between 120,000 and 140,000 passengers during the rest of the year.

Price Still Shapes Destination Choices

Kelepesi said holidays on many Greek islands now cost roughly the same as trips to major European cities. While destinations such as Mykonos and Santorini remain among the most expensive, islands including Rhodes, Lefkada and Crete continue to offer better value.

Larger islands such as Rhodes and Crete remain particularly attractive for families thanks to their hotel infrastructure, while younger couples continue to favour destinations such as Santorini, Mykonos and long-haul options including Bali.

Last-Minute Bookings Help Offset Softer Demand

Overall, outbound travel remains slightly below last year’s levels. Kelepesi attributed the softer market to geopolitical uncertainty during March and April, when many Cypriots typically book their summer holidays.

More recently, however, travel agencies have seen an increase in last-minute bookings. Although volumes remain below those recorded a year ago, the trend suggests travellers are delaying decisions rather than cancelling their holidays altogether.

Bitcoin Surges 23% In A Week As Investor Optimism Returns

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%.

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.

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