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Cyprus Records Third-Highest Annual Growth Rate in the EU for Q2 2024

Cyprus has emerged as one of the fastest-growing economies in the European Union, registering the third-highest annual growth rate for the second quarter of 2024. This significant economic performance demonstrates the island nation’s ability to adapt and thrive amid both regional and global economic challenges. As other EU member states grapple with inflation and economic stagnation, Cyprus has posted an impressive annual growth rate of 3.6%, outpaced only by Ireland and Romania.

A Strong Recovery

The latest data underscores Cyprus’ robust economic recovery, bolstered by a combination of government policies and favourable market conditions. The Cypriot economy has shown resilience, particularly in its key sectors, such as tourism, real estate, and financial services. With tourism returning to pre-pandemic levels, and an uptick in foreign investments, Cyprus has capitalised on its strategic location and regulatory framework to attract business and bolster growth.

The 3.6% annual growth rate is especially significant in the context of broader economic uncertainty across Europe, where many countries are experiencing slower or negative growth. According to Eurostat, the European Union recorded an average annual growth rate of 1.2% for Q2 2024, which puts Cyprus well above the regional average. This surge reflects both the island’s economic dynamism and its capacity to withstand external pressures.

Key Sectors

Tourism remains a key driver of economic activity in Cyprus, with revenues from this sector playing a pivotal role in boosting national GDP. Following a strong summer season in 2023, the influx of tourists has continued into 2024, with significant arrivals from traditional markets such as the UK and Germany, as well as new markets in the Middle East and Eastern Europe. Moreover, the government’s strategic initiatives, including targeted marketing campaigns and improved infrastructure, have helped to solidify the island’s reputation as a top-tier tourist destination.

Beyond tourism, Cyprus’ financial services and real estate sectors have been instrumental in driving growth. The island continues to attract foreign investors, particularly in real estate, where demand for high-end residential and commercial properties remains strong. Additionally, the financial services sector has benefited from Cyprus’ business-friendly tax regime and regulatory environment, further enhancing the country’s status as a regional financial hub.

Cloudflare Sets New Default To Separate Search Crawlers From AI Bots

Cloudflare has drawn a sharper line between traditional search and artificial intelligence.

Beginning September 15, 2026, the company will change its default settings to block so-called mixed-use crawlers from pages that run ads, unless a site owner chooses otherwise. The policy applies to new Cloudflare customers, new sites created by existing customers, and all current free customers.

A Clearer Divide In Web Access

The shift could materially reshape how AI companies collect web data for model training and agentic products. Cloudflare’s central argument is straightforward: most publishers want their content to remain visible in search and accessible through certain AI services, but they do not want that same material repurposed without compensation.

In Cloudflare’s view, the problem is not crawling itself. It is the blending of three different functions: search, agentic use, and training into a single bot that makes it difficult for website owners to set meaningful boundaries.

The Google Question

Cloudflare pointedly referenced the “world’s largest search engine,” an unmistakable nod to Google, arguing that it has access to roughly twice as much information as rival AI companies because it makes it harder for customers to stay discoverable without also being used for AI.

Google has disputed that framing. The company offers Google Extended, a crawler setting that lets publishers opt out of having content used for training and AI products such as Gemini apps and Vertex AI, without affecting visibility in Google Search. At the same time, Googlebot still crawls for Search and for AI-powered features such as AI Overviews and AI Mode.

Publishers Want Reach, Not Exploitation

Matthew Prince, Cloudflare’s co-founder and chief executive, said the company is moving quickly because the internet is now dominated by machine traffic.

“Now that the majority of traffic on the Internet is non-human, we must go further and act faster so that a sustainable ecosystem can emerge,” Prince said, referring to the recent milestone in which bots surpassed human traffic online sooner than expected.

Prince added that Cloudflare’s tools and partnerships are designed to give publishers more visibility and commercial leverage, while also rewarding AI companies that are transparent about how they use content.

From Pay Per Crawl To Pay Per Use

Cloudflare has increasingly positioned itself as a gatekeeper for publishers looking to assert control in the AI era. The company already offers tools to block AI bots, along with a marketplace called Pay Per Crawl, which lets websites charge AI systems for scraping.

That framework is now expanding into Pay Per Use, which Cloudflare says will allow publishers to charge AI companies when content creates value, not merely when it is fetched. In practical terms, that shifts the economics from extraction to monetization.

Cloudflare says the move may also reduce waste. Its data suggests more than half of crawl traffic from AI bots is spent revisiting pages that have not changed, consuming bandwidth and compute without adding fresh value for either side.

Early Partners Signal The Commercial Model

To launch the new system, Cloudflare is working with Ceramic.ai and You.com. Under the opt-in model, publishers can be paid when their content appears in Ceramic’s AI search results or when You.com accesses premium material.

Cloudflare says other AI companies can adapt the model to fit their own products. The broader message is clear: the era of unrestricted crawling is giving way to one in which access, attribution, and compensation are increasingly negotiated rather than assumed.

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