Breaking news

Cyprus And U.K. Launch Europe’s First Virtual Security Training Platform For Tourism Professionals

Cyprus and the United Kingdom have unveiled Europe’s first comprehensive online training platform, designed to equip tourism-sector staff with the skills necessary to identify and report potential terrorist threats and manage crises. Unveiled at the ‘Safeguarding Cyprus’s Tourism Industry’ conference—co-hosted by the Deputy Ministry of Tourism and showcased by the British High Commission—the initiative underscores a growing bilateral commitment to safeguarding a vital economic sector.

Protecting A Key Economic Pillar

Tourism contributes approximately €3.2 billion annually to the Cypriot economy. British High Commissioner Michael Tatham emphasized the importance of security in maintaining Cyprus’s reputation as a safe destination. With 34 per cent of tourists in 2024 being British nationals, the partnership highlights a shared interest in protecting the island’s allure, renowned for its sun, blue skies, and Mediterranean climate.

Operational Excellence On The Frontline

The platform goes beyond theoretical training, delivering operational modules that simulate realistic scenarios to prepare staff for swift, decisive action during crises. This proactive approach aims to minimize the human and economic repercussions of security breaches. As Tatham warned, even one incident could erode confidence and have lasting adverse effects on tourism, investment, and job creation.

Enhancing Security Across Critical Sectors

Recognizing the evolving nature of risks—from geopolitical tensions and terrorism to health emergencies and cyberattacks—the initiative extends its reach to hotels, airports, restaurants, and bars. This role-specific training is offered in both Greek and English, ensuring that frontline personnel are well-equipped to respond effectively. Deputy Ministry of Tourism Director General Costas Constantinou articulated the vision: “Every visitor should feel safe, every professional prepared, and every community protected.”

A Model For Public-Private Collaboration

Both Cypriot and U.K. officials view the platform as a natural extension of a strategic partnership. While Cyprus serves as a crucial security bridge between Europe and the Middle East, the expanded cooperation reinforces public-private ties crucial for building resilient tourism ecosystems. Law enforcement and industry stakeholders alike are encouraged to adopt best practices that not only enhance immediate safety but promise long-term economic stability.

Conclusion

In a time when security challenges loom large, this innovative training platform represents a robust effort to safeguard Cyprus’ tourism industry. As experts from both nations champion vigilant, operational training, the initiative stands as a testament to the power of international collaboration in today’s interconnected world.

Bank of Cyprus Upgrade Signals Fresh Optimism For Greek And Cypriot Banks

Regional Banks Enter A More Favorable Cycle

Bank of Cyprus and Eurobank are well positioned to benefit from a renewed re-rating of Greek and Cypriot bank stocks, according to Cyprus-based investment firm Roemer Capital, which upgraded Bank of Cyprus to a buy rating and reaffirmed its positive view on Eurobank.

The firm cited easing geopolitical tensions, resilient economic growth in Greece and Cyprus, lower funding costs and Greece’s expected transition to developed-market status as the main factors supporting the sector.

Roemer Capital also lowered its cost of equity assumptions, updated its forecasts following first-quarter 2026 results and extended its valuation horizon to the end of 2027, raising target prices across its banking coverage.

Bank Of Cyprus Gets The Largest Upgrade

Bank of Cyprus received the biggest revision, with Roemer Capital upgrading the stock from hold to buy and setting a target price of €11.10, implying potential total upside of 27%.

The firm highlighted the bank’s strong capital generation, profitability and projected 100% dividend payout, describing it as the strongest capital-return story among the banks under coverage. Roemer Capital maintained its buy rating on Eurobank, assigning a target price of €4.90 and forecasting potential upside of 28%. The report said the bank is well placed to benefit from loan growth, improving operating performance and merger-and-acquisition synergies.

National Bank of Greece and Piraeus Bank also retained buy ratings, with expected returns ranging from 25% to 36%. Optima Bank was upgraded to buy, while Alpha Bank remained at hold on valuation grounds.

Why Growth Still Sets The Region Apart

According to Roemer Capital, Greek and Cypriot banks continue to benefit from stronger economic fundamentals than many western European peers. The report pointed to faster economic growth, healthier balance sheets, low levels of non-performing exposures, capital ratios approaching 20% and strong customer deposit bases.

Analysts expect performing loans across the sector to grow at a compound annual rate of 6% to 8% through 2028, supported by private investment, digitalisation, green manufacturing, supply-chain expansion and a gradual recovery in household lending.

The report also said the conclusion of lending under the EU Recovery and Resilience Facility is unlikely to materially affect credit growth, as banks have already shifted back towards traditional commercial lending. Roemer Capital expects Euribor to remain between 2.2% and 2.5%, a level it believes should support both lending activity and net interest margins.

Geopolitics, Valuation And Market Structure Support The Case

The report said improving geopolitical conditions have strengthened the investment outlook, noting that Brent crude prices have largely returned to pre-war levels while Greek government bond yields have stabilised at around 3.5%. Although geopolitical risks remain, Roemer Capital believes the likelihood of a major inflationary shock or significant pressure on bank profitability has eased.

Another important catalyst identified by the firm is Greece’s expected promotion to developed-market status by FTSE Russell, STOXX and MSCI over the coming months.

According to the report, the reclassification should improve liquidity and attract a broader base of international investors. Roemer Capital also said Euronext’s acquisition of the Athens Exchange is expected to strengthen market infrastructure and increase international visibility, particularly for Bank of Cyprus and Optima Bank.

The firm noted that Bank of Cyprus has already benefited from its Athens listing, with average daily trading value increasing from less than €400,000 before its September 2024 move to nearly €6 million afterwards.

Economic Momentum Remains A Core Tailwind

Roemer Capital said both Greece and Cyprus have moved beyond post-crisis recovery and are now supported by private-sector-led growth. For Cyprus, the report highlighted recent tax reform and efforts to simplify the legal and regulatory framework, while also noting that limited foreign banking competition continues to support domestic lenders.

Overall, Roemer Capital expects Greek and Cypriot banks to remain well-positioned for profitable loan growth over the coming years.

The Future Forbes Realty Global Properties
eCredo
Aretilaw firm
Uol

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter