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Cyprus Accelerates Push Into Mountain And Rural Tourism As It Seeks Year-Round Growth

by THEFUTURE.TEAM

Cyprus is stepping up investment in mountain and rural tourism as the government works to draw more visitors inland, support local communities and strengthen the island’s position as a year-round destination, Deputy Tourism Minister Kostas Koumis said on Thursday in Agros.

Authenticity Emerges As A Core Competitive Advantage

Speaking at the conference “Mountain Areas, Special Interest of Tourism and Community Resilience”, held as part of Mountain Games Cyprus 2026, Koumis said authenticity remains one of the sector’s most valuable assets. The character of rural and mountain communities, he argued, is central to their long-term appeal.

The four-day Mountain Games programme, organised during the European Week of Sport, features 35 activities across eight Troodos villages within the UNESCO Global Geopark.

Tourism Strategy Puts Nature And Rural Experiences At The Forefront

Koumis said the government and the Deputy Ministry continue to invest in mountain and rural areas, while recent studies show travellers increasingly want nature, outdoor activity and closer contact with local communities.

Under the National Tourism Strategy 2035, nature and rural tourism — alongside cultural tourism — have been identified as priority special-interest segments, with hiking trails playing a central role. The objective is clear: extend the tourism season, spread visitor traffic further inland and reinforce Cyprus as a destination that can attract demand throughout the year.

Troodos, Koumis said, has “all the ingredients to meet this demand”, citing its walking trails, wine villages, Geopark status and UNESCO-listed monuments.

Upgrading Trails To European Standards

To support that ambition, the Deputy Ministry is working closely with the Forestry Department to promote walking and cycling tourism, improve route signage and upgrade forest recreation infrastructure.

Koumis also highlighted the publication by the Cyprus Organisation for Standardisation (CYS) of the national standard for the design, construction, signposting and management of hiking trails. For the first time in Cyprus, the standard sets national criteria covering trail characteristics, difficulty levels and minimum requirements for design, construction, marking and maintenance.

The aim is to deliver trails that are safe, accessible and well maintained, while enhancing the visitor experience and better reflecting the natural and cultural identity of each area.

Cyprus is also seeking to align its hiking infrastructure more closely with recognised European benchmarks. As a member of the European Hiking Federation, the Deputy Ministry is working to apply the “Leading Quality Trails – Best of Europe” criteria, with the longer-term goal of creating the conditions for the certification of Cyprus’ first long-distance trail.

A two-day training workshop on the scheme will take place in Spilia on September 25 and 26, with support from the Deputy Ministry. The session will focus on day hiking routes and help local authorities, government services and tourism organisations assess and upgrade routes. The next target is certification of three to four day routes within the Troodos Geopark.

Linking Outdoor Tourism With Local Economies

The wider strategy goes beyond infrastructure. The Deputy Ministry also wants outdoor tourism to support village businesses, local products and rural traditions more directly.

Koumis pointed to the Heartland of Legends circular route, where hiking, cycling, climbing and birdwatching are integrated with themes inspired by the island’s traditional rural activities. A similar approach underpins Taste Cyprus and the island’s wine routes, which connect tourism with local production and gastronomy so that more economic value stays within the communities themselves.

The Christmas Villages initiative is another key part of the effort, giving visitors “another reason to choose the mountains in winter” while supporting accommodation, hospitality and other local businesses beyond the peak summer period.

Accessibility Becomes Part Of The Quality Proposition

Accessibility is also being treated as part of the overall tourism product, not simply as a compliance issue. Koumis said the Deputy Ministry does not see accessibility as “a formal obligation”, but as a core element of quality, equality and social responsibility.

Grant schemes have already supported accessibility upgrades, specialist-interest facilities and health and wellness services at tourism accommodation. In addition, the Deputy Ministry has identified more than 300 tourism sites accessible to people with different disabilities.

Cyprus is also reviewing the experience of the Italian Hiking Federation, particularly in relation to trail assessment and certification, the training of accompanying guides and the use of specialist equipment for people with mobility disabilities.

More Than €15 Million Channelled Into Rural Projects

Rural tourism investment has also continued through the Recovery and Resilience Plan. Under the second call of the grant scheme for the revival of rural, mountain, border and remote areas, 152 projects have been completed, supported by €7 million in funding.

In parallel, 46 hotels and tourist accommodation businesses in rural, mountain and remote areas were approved for grants worth €6.9 million, while a further €1.3 million was allocated in 2025 for upgrades to restaurants and shops selling traditional food products.

Taken together, the three funding streams amount to more than €15 million in support for rural projects, accommodation and businesses linked to local food production.

Supporting Communities, Not Just Visitor Numbers

Koumis described support for the countryside as a wider government priority, aimed at keeping mountain communities economically active and encouraging younger people to return.

Tourism also plays an important role in the National Strategy for the Development of Mountain Communities, coordinated by the Commissioner for the Development of Mountain Communities, while agricultural support under the Common Agricultural Policy Strategic Plan 2023-2027 helps sustain the local production that underpins much of Cyprus’ gastronomic tourism offering.

Koumis also referred to conclusions adopted by the EU Competitiveness Council during Cyprus’ EU presidency, which placed greater emphasis on rural, mountain and remote destinations, as well as accessible and inclusive tourism models.

Ultimately, he said, the goal is to develop mountain tourism in a way that “respects the identity of each place” while ensuring tourism delivers meaningful and lasting benefits for the communities that host it.

LVMH Revenue Rises, But China Weakness Continues To Weigh On Luxury Giant

by THEFUTURE.TEAM

A Softer Quarter Exposes The Limits Of Luxury’s Recovery

LVMH, the world’s largest luxury group and parent of Louis Vuitton, Dior, Celine and Hennessy, reported revenue of €18.5 billion in the three months to the end of September, underscoring both the scale of its business and the pressure building across parts of the luxury market.

The company’s revenue rose 1.2% year on year in the third quarter, following a 0.1% increase in the second quarter and a 5.9% decline in the first. The trajectory points to stabilization, but not yet to a convincing rebound.

Organic Growth Misses Expectations

Organic sales growth, which strips out currency effects and portfolio changes, slowed to 1% in the third quarter from 3% in the previous quarter. That result fell short of market expectations and reinforced concerns that the luxury cycle remains uneven.

For the first nine months of the year, LVMH generated sales of €57.1 billion, with organic growth of 2%.

In its statement, the company highlighted the breadth of its portfolio, saying that diversification continues to provide resilience in an uncertain geopolitical and economic environment. That remains one of LVMH’s defining strengths: when one category weakens, another can help offset the downturn.

China Remains The Key Pressure Point

LVMH said sales performed well in the United States, Europe and Japan, but conditions in China remained less favorable. That matters because the country has long been one of the most important growth engines for global luxury brands.

The fashion and leather goods division, LVMH’s most closely watched unit, saw organic sales fall 5% as weaker demand in China weighed on performance. Deutsche Bank said the decline was steeper than the roughly 2% drop expected by analysts.

The segment had delivered its first organic sales gain in two years in the previous quarter, making the latest retreat a notable setback.

Brand Equity Faces A Test In China

The quarter also highlighted the reputational risks facing global brands in China. Louis Vuitton drew criticism after suing local tea company Molly Tea over logo copying. Although the company won the case, the dispute sparked social media backlash and boycott calls, adding another layer of pressure to an already fragile environment.

For a company built on scarcity, aspiration and brand discipline, perception is an asset as valuable as inventory. In a market as digitally connected as China, that asset can shift quickly.

Mixed Performance Across The Portfolio

Not every division weakened. LVMH’s selective retailing business, which includes Sephora, posted an 8% organic sales increase. Watches and jewellery, along with wines and spirits, both recorded 6% organic gains.

That broad mix is precisely what has historically given LVMH an advantage over rivals: it can absorb softness in one category without relying on a single growth driver.

Analysts See A Longer Recovery Ahead

Deutsche Bank analysts said the results could lead to further cuts in earnings forecasts for the second half of 2026 and 2027. They added that it is difficult to see what could improve investor sentiment in the near term.

Still, the bank framed the weakness as cyclical rather than structural. In its view, recovery is taking longer because Chinese demand remains subdued, but the problem does not appear to reflect a permanent deterioration in the brand franchise. Analysts said ongoing brand initiatives are beginning to show results, though improvements are likely to remain gradual.

Investor Pressure Continues To Mount

LVMH’s share price has fallen nearly 40% since the start of the year. In September, L’Oréal overtook the group as France’s most valuable listed company, a symbolic shift that captures how sharply sentiment has changed.

Shares in LVMH were down more than 1.6% in Paris around 10 a.m. CEST following the release.

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