Cyprus Ranks Among EU’s Highest Electricity Prices Amid Sector Shifts

by THEFUTURE.TEAM

January 19, 2026

Overview Of The Current Energy Landscape In The EU

Cyprus has emerged as one of the ten EU countries with the highest retail electricity prices, according to recent data released by the European Commission. The findings, based on trends in natural gas and electricity markets for the second quarter of 2025, underscore significant variations across member states.

Cyprus And EU Price Comparisons

For households in Cyprus, the retail electricity price reached 309.5 euros per megawatt‐hour (equivalent to 30.9 cents per kilowatt‐hour), placing the nation at the tenth highest cost among EU countries. In contrast, the regional average was 246 euros per megawatt‐hour (24.6 cents per kilowatt‐hour). Germany topped the chart with prices of 399.6 euros per megawatt‐hour, while Hungary was noted as the most competitive at 91.8 euros.

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Comparative Analysis With Neighboring Markets

Interestingly, Greece recorded a lower retail price at 232.6 euros per megawatt‐hour during the same period, positioning it in the 19th spot and below the EU average. The European Commission’s analysis further revealed a moderate 3% increase in household electricity prices attributed to rising taxes and network costs, alongside significant country-by-country variations.

Energy Consumption Trends And Market Dynamics

The overall consumption of electricity in the EU remained largely steady with a marginal increase of 0.4% compared to the second quarter of 2024. Seventeen member states experienced a rise in consumption while others showed either stability or a decline. National demand figures for Q2 2025 were still 6% lower than pre-crisis averages from 2015 to 2019. The energy mix maintained a renewable share of 52%, unchanged from the previous year, with a slight uptick in fossil fuel contribution from 24% to 25%.

Surge In Electric Vehicle Sales

The European Commission also highlighted a significant surge in electric vehicle (EV) sales. Over 720,000 new electric passenger vehicles were sold in the EU during the second quarter of 2025—a year-on-year increase of nearly 30%. This represents a 23% market share among electric vehicles in the passenger car market, contrasting sharply with China’s 57% share and the United States’ 10% share.

Market Leaders In The Electric Mobility Sector

Sweden led the EV market with an impressive 62% of all new passenger vehicles sold being electric. Denmark (60%), Finland (54%), and the Netherlands (52%) also recorded major penetrations of electric or plug-in hybrid vehicles. Closer to home, recent data from the Cypriot Statistical Service showed a 6.2% increase in new passenger car registrations between January and December 2025. Notably, while the proportions of gasoline and diesel vehicles declined, the share of electric and hybrid models increased significantly.

These developments reflect not only a transformation in energy markets but also an evolving automotive landscape in Europe, where price dynamics and technological shifts continue to reshape consumer behaviors and national policy frameworks.

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Cyprus Tourism Recovers After Difficult Start To 2026

by THEFUTURE.TEAM

October 26, 2026

Cyprus’ tourism sector is recovering after a sharp decline in arrivals earlier this year, but Deputy Minister of Tourism Kostas Koumis has warned that the industry remains vulnerable to external shocks. Presenting the department’s €59.4 million budget for 2027, he stressed that continued growth cannot be taken for granted.

Arrivals Recover After A Sharp Early-Year Decline

Tourist arrivals fell by 5.6% in the first nine months of 2026 compared with the same period last year, Koumis said. This marks a significant improvement from the 17.9% decline recorded during the first four months, although the recovery remains incomplete.

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Despite the setback, arrivals between January and September were 4.1% higher than in 2024 and 8.5% above 2023 levels. Koumis said the figures indicated that the sector had entered a recovery phase, but added that more work was needed to restore demand in certain markets.

An Unprecedented Shock For The Industry

Koumis described 2026 as one of the most difficult years for Cyprus’ tourism sector in decades. External developments triggered widespread cancellations and a sharp slowdown in bookings during March and April, with tens of thousands of reservations cancelled and new bookings largely stalling.

“2026 will undoubtedly remain in the history and memory of those working in the sector as a year during which our country’s tourism industry was called upon to face an unprecedented crisis as a result of external factors,” he told lawmakers.

Budget Focuses On Promotion And Development

Around 62% of the proposed 2027 budget will go towards promoting Cyprus and strengthening its tourism offering. Funding will support marketing campaigns, participation in international tourism fairs and incentive schemes designed to stimulate demand and improve the island’s competitiveness in key markets.

Tourism Revenue Remains Below 2025 Levels

Tourism receipts fell by 7% in the first seven months of 2026 compared with the same period in 2025, according to the Cyprus Statistical Service. However, revenue remained 9.2% above 2024 levels and 13.8% higher than in 2023.

Koumis said the final outcome would depend on performance during the remaining months. If receipts follow a trajectory similar to 2025, he expects the full-year decline to be limited to between 3% and 4%, which he described as “a very satisfactory performance” under the circumstances.

Recovery Does Not Guarantee Future Growth

September recorded what Koumis described as the strongest September on record for tourist arrivals in Cyprus. However, he cautioned against complacency, noting that the disruption earlier in the year demonstrated how quickly external events can affect the sector.

“Success in tourism can never be taken for granted,” he said.

The government aims to ensure that tourism continues to benefit Cyprus’ economy, businesses and local communities in 2027. The proposed budget places particular emphasis on promotion and product development, reflecting a strategy focused on consolidating the recovery while preparing the sector for further uncertainty.

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