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Cyprus Airports Propel Expansion With €170 Million Investment Amid Record Passenger Traffic

by THEFUTURE.TEAM

September 9, 2025

Record-Breaking Passenger Traffic

Cyprus’ airports have reached an unprecedented level of activity, with Larnaca and Paphos recording a combined 1.8 million passengers in August. This figure marks a notable increase from 1.6 million in the previous year and underscores a resilient rebound beyond pre-pandemic levels. Larnaca, in particular, observed growth from 1.2 million to 1.3 million passengers, while Paphos reported an increase from 439,900 to 501,100 passengers year-over-year.

Robust Expansion Programs Underway

Construction is now well underway on the second phase of a major expansion programme, endorsed by a €170 million investment. The initiative, which commenced in March, saw President Nikos Christodoulides laying the foundation stone in June. At Larnaca, the upgrade will encompass approximately 20,000 square metres, adding new arrival and departure gates, enhanced baggage handling, expanded passport control, advanced security checks, and enlarged commercial areas alongside increased aircraft parking capacity. Paphos is set to experience a terminal capacity boost of around 30 per cent, significantly refining passenger processing and overall efficiency. Operational enhancements also include the extension of the southern parallel taxiway, further elevating the airports’ flexibility and throughput. Once complete, Larnaca and Paphos will boast annual capacities of 12.4 million and 5 million passengers, respectively.

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Tourism Surge And Revenue Growth

The momentum extends beyond infrastructure. Recent statistics show that tourist arrivals in Cyprus escalated by 6.9 per cent in July 2025, with the UK, Israel, and Poland topping the list of source markets. Meanwhile, tourism revenue climbed by 9.6 per cent to reach €422.3 million in June 2025, with overall spending per visitor also rising. The first half of the year collectively generated €1.38 billion in revenue, marking a 21.3 per cent increase over the previous year. Such figures attest to the strong recovery and continuous expansion of Cyprus’ tourism sector, further supported by a record-breaking influx reflected in over 12.3 million passengers in 2024.

These developments not only highlight the strategic importance of airport expansions in meeting growing demand but also underscore Cyprus’ robust economic recovery and commitment to enhancing its infrastructure for sustainable growth.

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Mortgage And Business Loan Rate Dynamics Among Cyprus Banks

by THEFUTURE.TEAM

January 17, 2026

Stable Mortgage Loan Rates Post-Mergers

Recent consolidations in the Cyprus banking sector have led to a striking uniformity in mortgage loan interest rates. For example, data from November 2025 reveal that Bank of Cyprus, Eurobank Ltd, and Ancoria Bank are all offering an average rate of 2.98%. Alpha Bank even offers a marginally lower rate of 2.81% for home purchases, whereas smaller market players continue to provide loans at higher costs.

Differentiated Business Loan Offerings

In contrast, business loan interest rates demonstrate greater variability. For loans up to €1 million, Alpha Bank offers the most competitive rate at 3.31%, followed by the National Bank of Greece (Cyprus) at 3.78% (NBG Cyprus). Eurobank Ltd, Kyprian Bank of Development, and Bank of Cyprus post higher averages at 4.00%, 4.46%, and 4.47% respectively, while Societe Generale Bank Cyprus and Banque SBA register even steeper rates at 6.05% and 6.54%.

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For loans exceeding €1 million, the trend remains similar: Alpha Bank leads with 3.64%, trailed by National Bank of Greece (Cyprus) at 3.99% and Bank of Cyprus at 4.18%. Eurobank Ltd and Kyprian Bank of Development follow with rates of 4.54% and 4.30%, whereas Societe Generale Bank Cyprus stands out with an average rate of 6.23%.

Competitive Deposit Rates Reflect High Liquidity

Deposits in Cyprus are offered at some of the lowest interest rates in the Eurozone, a situation that reflects the exceptionally high liquidity across the local banking systems. With a Liquidity Coverage Ratio (LCR) recorded at 319% in November 2025, well above the Eurozone median of 191%, major institutions such as Bank of Cyprus, Eurobank Ltd, and Alpha Bank feature household deposit averages of 0.67%, 1.11%, and 1.36% respectively.

Meanwhile, smaller banks including Ancoria Bank, National Bank of Greece (Cyprus), and Kyprian Bank of Development report higher deposit rates of 1.47%, 1.49%, and 1.25% respectively. For business term deposits (up to one year), Ancoria Bank offers the highest average rate at 1.51%, closely followed by Alpha Bank at 1.43%. Other institutions maintain averages between 1.12% and 1.42%, underscoring a competitive yet stratified market landscape.