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Cyprus Poised To Become A Leading Sports Tourism Destination, Says Basketball Federation

by THEFUTURE.TEAM

January 16, 2025

The President of the Cyprus Basketball Federation, Andreas Mouzouridis, has described the opportunity to host a group in the final phase of EuroBasket 2025 as a historic chance for Cyprus to establish itself as a premier sports tourism destination.

Speaking through the Federation’s official website, Mouzouridis emphasised that achieving this goal hinges on adopting a well-structured, long-term strategy. This approach should involve close collaboration between public and private stakeholders to maximise the lasting benefits for the country.

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The Power Of Sports Tourism

Mouzouridis underlined the dynamic nature of sports tourism, which merges passion for sports with unique travel experiences. Its development offers diverse benefits, particularly in economic terms. Hosting major international events, such as EuroBasket, attracts visitors from around the globe, who stimulate the local economy by staying in hotels, dining in restaurants, utilizing transportation services, and participating in leisure activities.

In addition, the global visibility that comes with such events enhances Cyprus’ reputation as a premium destination, which can drive sustained growth in tourist demand over time.

Investing In Infrastructure And Climate

Key to the success of Cyprus’ sports tourism potential is significant investment in sports infrastructure. Mouzouridis pointed out that such upgrades are vital not only for meeting the standards of the EuroBasket tournament but also for providing enduring benefits to local communities and the economy.

Cyprus’ excellent year-round climate also positions it as an attractive destination for outdoor sports activities, which should be capitalized on to further enhance its appeal.

Collaboration For Success

Mouzouridis called for a united effort to realize this vision. The Ministry of Finance can play a pivotal role by securing funding for necessary infrastructure and offering incentives to encourage private investments. Meanwhile, the Deputy Ministry of Tourism should integrate sports tourism more strategically into its plans, promoting Cyprus as a key hub for international sporting events.

The Cyprus Sports Organisation, he added, must focus on upgrading existing facilities to meet international standards, ensuring the infrastructure is competitive.

The private sector, particularly hoteliers, travel agents, and tourism professionals, is also crucial to the effort. Their collaboration can help create comprehensive and memorable experiences for visitors, blending high-quality services with a vibrant sports culture.

Mouzouridis concluded that the successful hosting of EuroBasket 2025 could lay the foundation for Cyprus to become a top destination for sports tourism, driving economic growth and elevating its international profile.

The Decline Of Smartwatches: A Turning Point In The Wearable Tech Industry

by THEFUTURE.TEAM

March 13, 2025

For the first time in history, the smartwatch market is facing a significant downturn. Shipments are expected to drop by 7% in 2024, marking a major shift in a segment that has been growing steadily for over a decade. A report by Counterpoint reveals that while Apple still holds the top spot, its dominance is being challenged by a surge from Chinese brands like Huawei, Xiaomi, and BBK. Even as the overall market struggles, some companies are thriving.

The Big Picture: Why Smartwatches Are Slowing Down

Apple’s flagship products have long been the driving force in the smartwatch market, but even the tech giant is feeling the pressure. The company’s shipments are projected to fall by 19% this year, though it will remain the market leader. Meanwhile, brands from China are capitalizing on the shift, with Huawei showing an impressive 35% growth in sales, driven by the booming domestic market and a broad range of offerings, including smartwatches for kids.

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Xiaomi, too, is experiencing remarkable success, with a staggering 135% increase in sales. In contrast, Samsung is seeing more modest growth, up 3%, thanks to its latest Galaxy Watch 7 and Galaxy Watch Ultra series.

While some companies are succeeding, the broader market is facing headwinds. The biggest factor behind the overall decline is the slowdown in India, where consumer demand for smartwatches has stagnated. The segment is suffering from a lack of innovation and fresh updates, leaving many consumers with little incentive to upgrade their devices. Add to that market saturation, and it’s clear why many users are content with their current models. The Chinese market, however, is bucking the trend, showing 6% growth in 2024.

A Glimpse Into The Future

Looking ahead, the smartwatch market may begin to recover in 2025, driven by the increasing integration of AI and advanced health monitoring tools. As these technologies evolve, the industry could see a resurgence in demand.

Huawei’s Remarkable Comeback

Huawei’s impressive performance in the smartwatch space signals a broader recovery for the company, which has been hit hard by US sanctions. Once the world’s largest smartphone maker, Huawei’s business was decimated when it lost access to advanced chips and Google’s Android operating system in 2019. But in China, Huawei has maintained its dominance, with its market share growing to 17% in 2024.

This resurgence was partly driven by the launch of the Mate 60 Pro, a smartphone featuring a 7-nanometer chip developed in China. Despite US sanctions, the device surprised many with its capabilities, a testament to China’s rising investment in domestic semiconductor production.

In February, Huawei also unveiled its Mate XT foldable smartphone, the world’s first device to fold in three directions. Running on HarmonyOS 4.2, Huawei’s proprietary operating system, the phone further demonstrates the company’s resilience and ability to innovate despite international challenges.

Huawei’s smartwatch offerings are also catching attention, particularly the Huawei Watch GT 5 Pro, which launched in September of last year. With a premium titanium alloy design, a high-resolution AMOLED display, and impressive health tracking features, the GT 5 Pro has become a standout in the market, available to both Android and iOS users.

A Brief History Of The Smartwatch Revolution

The smartwatch market has had its fair share of milestones, but the real breakthrough came in 2012 with the Pebble, a Kickstarter-funded project that raised over $10 million. Pebble introduced the world to smartphone integration, app downloads, and long battery life, becoming the first truly mass-market smartwatch.

In 2013, Samsung entered the game with the Galaxy Gear, marking its first attempt at wearable tech. But it was Apple’s entry in 2014 that truly set the industry on fire. The Apple Watch’s sleek design, integration with iOS, and emphasis on health and fitness catapulted it to the top of the market, establishing a standard that many other brands would try to follow.

By 2021, the smartwatch industry had grown to over $30 billion in revenue, with annual growth reaching 20%. Yet now, it finds itself at a crossroads, with innovation stagnating and market saturation taking a toll.