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Cyprus Elevates Tourism Quality Ahead Of EU Council Presidency

Tourism Resilience And Recovery

Cyprus is poised to fortify the quality of its tourism offerings as it enters a pivotal phase of development. Deputy Minister of Tourism Kostas Koumis emphasized the nation’s robust recovery and remarkable growth during a gathering of the Association of Travel And Tourism Agents Of Cyprus (Actta) in Nicosia. He noted that the past three years have not only seen the industry rebound from pandemic setbacks but, in many instances, surpass pre-pandemic performance metrics.

Strategic Investments And Evolving Priorities

The Deputy Minister outlined several key initiatives driving this transition. Enhanced air connectivity across European markets, rising hotel overnight stays well above the EU average, and significant gains in tourism revenue underscore this upward trend. However, Koumis stressed that the government’s strategy is evolving—tourism success must now be measured by the depth and quality of the experiences offered rather than mere visitor numbers or revenue figures.

Embracing Sustainability And Authenticity

According to Koumis, addressing seasonality, prioritizing digital upgrades, environmental sustainability, and robust local community support are crucial. These measures align with the EU’s Tourism Agenda 2030, which champions long-term sustainability and community enrichment. The Deputy Ministry has already allocated over €20 million through the Recovery And Resilience Facility (RRF) to upgrade rural and remote areas, enhance local accommodations, and foster authentic visitor experiences.

Preparing For A Modern Tourism Model

Recent initiatives—including a draft law on diving tourism, the launch of a national tourism app, a comprehensive study on medical tourism, and a project documenting Cyprus’ rich tourism history—demonstrate a strategic pivot toward strengthening the island’s unique destination attributes. As 2024 and 2025 set new benchmarks in visitor arrivals and revenue, industry leaders are now called upon to envision the next decade collectively. Koumis underscored the influential role of tour operators in promoting lesser-known regions and expanding authentic tourism products.

A Vision For Broader Prosperity

The overarching challenge remains ensuring that progress in tourism generates broad societal benefits. The commitment to cultivating a modern tourism model—one that enriches visitors with the genuine flavor of Cyprus while providing tangible advantages to local communities—illustrates a forward-looking strategy. As the nation prepares to assume the EU Council Presidency in 2026, Cyprus is set to redefine its tourism paradigm, building not only on performance metrics but on the intrinsic value of unique and sustainable experiences.

SEC Drops Lawsuit Against Gemini: A Major Turning Point In Crypto Regulation

SEC Dismisses Legal Action Against Gemini

The Securities and Exchange Commission has formally withdrawn its lawsuit against Gemini, the prominent crypto exchange founded by twins Cameron and Tyler Winklevoss. The move follows a joint court filing in which both the regulator and Gemini sought dismissal of the case that centered on the collapse of the Gemini Earn investment product, a debacle that left investors without access to their funds for 18 months.

Settlement And Regulatory Reassessment

In a significant development, a 2024 settlement between New York and Gemini ensured that investors recovered one hundred percent of their crypto assets loaned through the Gemini Earn program. The legal reprieve comes on the heels of actions initiated by New York Attorney General Letitia James, who accused Gemini of defrauding investors.

Political Backdrop And Industry Implications

This dismissal reinforces a broader trend of regulatory leniency toward the crypto sector noted during the Trump administration, which saw the SEC dismiss, pause, or reduce penalties in more than 60 percent of its pending crypto lawsuits. Meanwhile, Gemini’s recent public offering filing underscores its ambitions to solidify its status as a major player in the evolving digital asset market.

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