Breaking news

Cyprus Economy In 2024: Growth In Key Sectors, But Trade Faces Challenges

by THEFUTURE.TEAM
February 13, 2025

Cyprus experienced notable economic growth in 2024, driven by increases in construction, manufacturing, tourism, and vehicle registrations. However, trade performance weakened, with both imports and exports declining. The latest data from CySTAT provides a comprehensive overview of these trends.

Key Figures

  • Construction Growth: Building permits reached 1.72 million square meters (January–August 2024), an 18% increase compared to the same period in 2023.
  • Manufacturing Expansion: Industrial production rose 1.8% from January to November 2024, reflecting steady growth in the sector.
  • Increase in Vehicle Registrations: Total vehicle registrations grew 9.1%, reaching 49,616; Private saloon car registrations increased 11.2%, while light goods vehicle sales surged 36.1%.
  • Consumer Price Index: Inflation remained moderate, with the CPI rising 1.8% for the year.
  • Tourism Growth: Tourist arrivals reached 4,040,200, marking a 5.1% increase compared to 2023.
  • Decline in Trade Performance: Imports fell 7%, totaling €12.26 billion; Exports declined 12.5%, amounting to €4.12 billion.

The data highlights strong domestic economic activity but also signals potential challenges in external trade.

Airbnb Unveils Reserve Now, Pay Later Option For U.S. Guests

by THEFUTURE.TEAM
August 15, 2025

Introduction

Airbnb has introduced an innovative payment solution designed to enhance user flexibility for U.S. travellers. The new “Reserve Now, Pay Later” feature enables users to secure a booking without an upfront payment, offering a streamlined cancellation process should plans change.

Flexible Payment Terms

This new option applies to listings that feature either flexible or moderate cancellation policies. Under a flexible policy, guests can cancel their reservation up to 24 hours before check-in, while a moderate policy offers no-fee cancellations until five days prior to arrival.

Payment Timing and Reminders

Regardless of the cancellation window, guests are obligated to complete the full payment before the expiration of the free cancellation period. Airbnb ensures a smooth experience by sending timely payment reminders to avoid any last-minute issues.

Evolution of Airbnb’s Payment Solutions

This initiative builds on Airbnb’s previous forays into flexible payment structures. In 2018, the company offered a partial upfront payment model, and more recently, a collaboration with Klarna enabled guests to pay in four installments over six weeks. Such strategic advancements demonstrate Airbnb’s commitment to adapting and refining its payment solutions to meet evolving consumer demands.

Consumer Insight Driving Innovation

Airbnb’s decision to launch the “Reserve Now, Pay Later” feature reflects robust consumer demand, with recent surveys indicating that 55% of respondents prefer flexible payment options. Additionally, 42% noted missed opportunities due to payment complexities when coordinating with travel companions, underlining the need for simplified financial arrangements.

Conclusion

By enhancing payment flexibility, Airbnb not only broadens its appeal but also addresses critical customer pain points, reinforcing its position as a leader in the evolving travel market. This initiative exemplifies how strategic innovation can drive customer satisfaction in an increasingly competitive landscape.

The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter