Cyprus Airports Break Passenger Traffic Records in 2024

by THEFUTURE.TEAM

December 9, 2024

Cyprus has recorded an all-time high in passenger traffic for 2024, with figures surpassing last year’s total by 30 November. The Ministry of Transport, Communications and Works announced that passenger volume is projected to grow by 5% compared to 2023, marking a significant milestone for the country’s aviation sector.

Transport Minister Alexis Vafeadis expressed his satisfaction with the remarkable results, highlighting the broader economic and tourism benefits.

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Unprecedented Passenger Numbers for November

November 2024 alone saw a record-breaking 715,231 passengers pass through Larnaca and Paphos airports — a 7.01% increase from the same month in 2023. This achievement represents the highest-ever performance for November.

From January to November 2024, passenger volume also hit a historic peak, registering a 5% increase year-on-year. Larnaca Airport experienced a 7.39% rise in passenger numbers, while Paphos Airport saw a 6.05% increase. Key source markets included the United Kingdom, Greece, Poland, Israel, and Germany. Air traffic at both airports grew by 4.89%, with a total of 6,309 flights recorded.

Growing Demand Presents New Challenges

The surge in passenger numbers presents what the Ministry described as a “pleasant problem” — managing the growing demand until necessary infrastructure investments are completed. Plans are underway to expand airport facilities to better accommodate the increased traffic.

Minister Vafeadis acknowledged the collective effort behind the success, extending gratitude to his team and key stakeholders, including the Deputy Ministry of Tourism and Hermes Airports Ltd. Their coordinated efforts to expand the country’s airline network and introduce new routes played a decisive role in achieving this growth.

“The addition of new airlines and routes has been a game-changer,” the Ministry noted, emphasizing the role of enhanced connectivity in driving passenger traffic growth.

With demand on the rise and investments in airport infrastructure in progress, Cyprus is well-positioned to sustain its role as a key regional aviation hub, further bolstering its economy and tourism sector.

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Bitcoin Surges 23% In A Week As Investor Optimism Returns

by News Editor

August 21, 2026

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.

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