Cyprus Emerges as EU Tourism Powerhouse With Record Growth in 2024

by THEFUTURE.TEAM

October 19, 2025

Exceptional Growth Paves the Way

Cyprus has distinguished itself as the leading force in European tourism for 2024, recording the highest year-on-year growth rate in overnight stays among European Union member states. Eurostat confirmed a significant 14.5 percent increase in nights spent at Cypriot accommodation facilities compared with 2023, edging out Malta by a narrow margin, which posted a 14.4 percent increase.

EU Trends and Comparative Performance

While Cyprus and Malta set the pace at the top, other EU countries also registered notable gains. Latvia stood out with a 7.4 percent increase, contributing to an overall EU improvement where the total number of nights spent in tourist accommodations surpassed three billion for the first time. The EU as a whole experienced a modest growth of 2.7 percent in overnight stays in 2024 compared to the previous year.

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Domestic Versus International Impact

The growth in tourism was fueled predominantly by domestic travel, which accounted for 51.9 percent (1.57 billion nights) of the total visits across the EU. International travelers contributed 48.1 percent (1.45 billion nights), with a significant share of these visitors coming from other EU countries. Specifically, 61.6 percent of the international nights were recorded by tourists from within the Union, while visitors from other European countries accounted for 21.3 percent. Guests arriving from outside Europe, particularly North America, made up the largest portion of non-European travelers at 7.5 percent, followed by Asia at 4.9 percent, Central and South America at 2.3 percent, Oceania at 1.0 percent, and Africa at 0.8 percent.

Accommodation Dynamics and Sector Insight

The accommodation sector demonstrated varied trends with nearly two-thirds (62.8 percent) of all overnight stays taking place in hotels and similar establishments. Holiday rentals and short-stay apartments captured 23.7 percent of the market, whereas camping grounds, recreational vehicle parks, and trailer parks comprised the remaining 13.5 percent.

Conclusion: Strategic Opportunities Ahead

The robust performance of Cyprus underscores a broader European trend of rising tourism that is redefining travel dynamics across the Union. For industry stakeholders and policymakers, these figures offer a valuable barometer of market confidence and signal potential strategic opportunities to harness burgeoning tourism demands in both domestic and international markets.

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Central Bank Of Cyprus Balance Sheet Reflects Strong Eurosystem Position

by THEFUTURE.TEAM

February 17, 2026

Overview Of Financial Stability

The Central Bank of Cyprus (CBC) has released its latest balance sheet, reaffirming its steadfast role within the Eurosystem. The balance sheet, featuring total assets and liabilities of €29.545 billion, underscores the institution’s stable financial posture at the close of January 2026.

Asset Allocation And Strategic Holdings

Governor Christodoulos Patsalides issued the balance sheet, which details the CBC’s asset composition under the Eurosystem framework. Notably, the bank’s gold and gold receivables amounted to €1.635 billion, providing a significant hedge and stability to its balance sheet. Additional asset categories include claims on non-euro area residents denominated in foreign currency at €1.099 billion, while claims on euro area residents in both foreign and domestic currency add further depth to its portfolio.

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The most substantial asset category, intra-Eurosystem claims, reached €19.438 billion, an indication of the CBC’s deep integration with its European counterparts. Furthermore, euro-denominated securities held by euro area residents contributed €6.587 billion. Despite a marked emphasis on these areas, lending to euro area credit institutions in monetary policy operations recorded no activity during the period.

Liability Structure And Monetary Policy Implications

On the liabilities side, banknotes in circulation contributed €3.218 billion. Liabilities to euro area credit institutions associated with monetary policy operations were notably the largest single category, totaling €17.636 billion. Supplementary liabilities included those to other euro area residents, which aggregated to €4.989 billion, with government liabilities playing a predominant role at €4.754 billion.

Other liability items, such as claims related to special drawing rights allocated by the International Monetary Fund at €494.193 million, and provisions of €596.571 million, further articulate the CBC’s exposure. Revaluation accounts stood at €1.643 billion, and overall capital and reserves were confirmed at €333.822 million, completing the picture of a well-capitalized institution.

Conclusive Insights And Strategic Alignment

The detailed breakdown illustrates the CBC’s sizeable intra-Eurosystem exposures, reinforcing its central role within Europe’s monetary landscape. With an asset-liability balance maintained at €29.545 billion, the CBC’s financial position remains robust, indicating a commitment to structural stability and strategic risk management.

This fiscal disclosure not only provides transparency into the CBC’s operations but also serves as a benchmark for comparative analysis among other central banks within the Eurosystem, highlighting the intricate balance between asset liquidity, regulatory oversight, and monetary policy imperatives.

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