Opens in a new tab

Breaking news

Cyprus Resorts See Mixed Tourism Results As Summer Season Peaks

Hotel demand across Cyprus is showing mixed results this summer, with Limassol and the eastern resorts reporting strong occupancy while Larnaca continues to feel the impact of regional conflicts.

Limassol hotels are around 90% full in August, while Larnaca is about 15% below last year. Protaras and Ayia Napa are also expecting occupancy to approach full capacity in the coming weeks.

Limassol Maintains Strong Demand

Hotels in Limassol are matching last year’s August booking levels, according to Christos Tsanos, president of the Cyprus Hotels Association branch in the city.

Prices have largely remained stable, with increases in most categories limited to around 5%. Tsanos said Limassol’s appeal among higher-income visitors was also supporting demand.

Larnaca Still Feels Regional Impact

Larnaca hotel occupancy is around 15% below last year in both July and August. Marios Polyviou, head of the local hotel association, said the city had been particularly affected by the conflict in the Middle East.

August began with occupancy at approximately 75%, compared with around 90% in 2025. Hoteliers are hoping for more last-minute bookings, while September reservations are showing a more positive trend.

Paphos And Famagusta See Stronger Demand

Paphos is showing signs of recovery, with improvements to the seafront and key tourist areas following a municipal clean-up campaign.

Hotels in Protaras and Ayia Napa are expecting occupancy of 90% to 95% over the next two to three weeks. Demand is being driven by visitors from the UK, Israel and Scandinavian countries, alongside domestic bookings.

Cyprus Loan Growth Accelerates To 14% In September

Lending in Cyprus accelerated in September, with the annual growth rate of total loans reaching 14%, up from 11.8% in August. Deposits also recorded a stronger monthly increase, according to the Central Bank of Cyprus (CBC).

Total deposits rose by a net €697.1 million to €60.2 billion at the end of September. Total loans increased by €857.8 million to €29.6 billion, according to the CBC’s October 2026 Monetary and Financial Statistics.

Deposit Growth Strengthens

Deposits recorded a monthly increase of €697.1 million, more than four times the €171.5 million rise in August. However, the annual growth rate remained unchanged at 6.5%.

Deposits held by Cyprus residents increased by €639.9 million. Household deposits rose by €93.8 million, while deposits held by non-financial corporations grew by €373 million. Other domestic sectors contributed a further €173.1 million.

Annual Loan Growth Reaches 14%

Total loans increased by a net €857.8 million in September, compared with €114.6 million in August. The annual growth rate accelerated to 14%, up from 11.8% a month earlier.

Lending to Cyprus residents rose by €470.8 million. Loans to households increased by €52.2 million, while lending to non-financial corporations grew by €110.1 million. Other domestic sectors recorded a larger increase of €308.5 million.

The figures cover deposits and loans held by monetary financial institutions in September 2026.

Uol
eCredo
Aretilaw firm
The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter