Cyprus Nears US Visa Waiver Program As Refusal Rate Drops Below 3%

by THEFUTURE.TEAM

November 28, 2024

Cyprus has achieved a significant milestone in its efforts to join the US Visa Waiver Program, with the 2024 visa refusal rate for Cypriot citizens reported at just 2.16%. This figure, announced by the US Department of State, is well below the program’s required threshold of 3%, marking a crucial step toward visa-free travel for Cypriots.

Progress Towards Inclusion

Deputy Minister to the President, Irene Piki, highlighted the importance of this development, stating that Cyprus has met a “key prerequisite” for its inclusion in the program. She credited the progress to successful technical consultations between Cyprus and the United States over the past year.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Piki reaffirmed the government’s commitment to securing Cyprus’ inclusion in the program by 2025, allowing Cypriots to travel to the US for tourism and business without the need for a visa.

Support from US Officials

US Ambassador to Cyprus, Julie Fisher, also acknowledged the milestone, describing it as a significant step forward. She expressed optimism that Cypriots would soon enjoy the benefits of visa-free travel to the US.

What’s Next?

The Cypriot government plans to continue its focused efforts to meet all remaining requirements, ensuring the process stays on track. This achievement underscores the growing cooperation between Cyprus and the US, paving the way for stronger ties and easier travel.

As Cyprus moves closer to this goal, the prospect of visa-free access to the US represents an important development for both business and leisure travellers.

The Future Forbes Realty Global Properties

ECB Survey Shows Eurozone Inflation Expectations Ease In May

by THEFUTURE.TEAM

June 29, 2026

Inflation Expectations Retreat In May

Consumers across the euro area lowered their short-term inflation expectations in May, according to the European Central Bank’s latest Consumer Expectations Survey.

Expected inflation over the next 12 months fell to 3.5% from 4.0% in April, while perceived inflation over the previous 12 months remained unchanged at 4.0%.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Long-Term Outlook Holds Steady

Longer-term inflation expectations were unchanged. Consumers continued to expect inflation of 2.9% three years ahead and 2.4% over a five-year horizon.

The ECB also reported a decline in uncertainty about inflation over the coming year, although it remained above levels recorded before the conflict in the Middle East.

Income Gaps Continue To Shape Sentiment

The survey showed notable differences across income groups. Lower-income households reported higher perceptions of past inflation and higher expectations for future inflation than higher-income respondents.

Age differences were also evident. Consumers aged 18 to 34 reported lower inflation perceptions and expectations than those aged between 35 and 70.

Household Finances Show Mixed Signals

Expected nominal income growth over the next 12 months increased to 1.0% from 0.8% in April. At the same time, expected spending growth eased to 3.8% from 4.3%, while expectations for economic growth improved to -1.7% from -2.2%. Although households continued to expect the economy to contract, the latest reading indicates a less negative outlook than a month earlier.

Labour Market Views Remain Broadly Stable

Consumers expected the unemployment rate 12 months ahead to reach 11.3%, up slightly from 11.2% in April. Expectations differed across income groups, with lower-income households forecasting unemployment of 13.7%, compared with 9.5% among higher-income respondents.

The expected unemployment rate remained only slightly above the perceived current rate of 10.7%.

Housing And Credit Conditions Stay Tight

Consumers expect house prices to increase by 3.6% over the next year, compared with 3.7% in April. Expectations for mortgage interest rates were unchanged at 4.9% for the third consecutive month.

Lower-income households continued to expect higher mortgage rates than higher-income households, at 5.6% and 4.4% respectively.

The survey also showed that the net share of households reporting tighter access to credit over the previous 12 months reached its highest level since February 2024. At the same time, fewer respondents expected credit conditions to tighten further over the coming year.

Breaking news