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Cyprus Sees 4.2% Growth in Tourist Arrivals, Reaching 3.27 Million from January to September

Tourist arrivals in Cyprus reached 3.27 million from January to September, reflecting a 4.2% rise compared to the same period in 2023 and a slight increase over the same timeframe in 2019, which was a record year for tourism in Cyprus.

Data published by the Statistical Service of Cyprus (Cystat) shows that 3,268,090 tourists visited the island in the first nine months of 2024, up from 3,136,145 during the same period last year. This figure also represents a 0.23% increase compared to the corresponding period of 2019, when Cyprus saw its highest-ever number of tourist arrivals.

For September alone, the number of tourists reached 509,463, a 4.5% rise from the 487,350 recorded in September 2023, according to Cystat.

In September 2024, the United Kingdom was the top source of tourists, contributing 35.5% (180,961) of total arrivals. Israel followed with 10.7% (54,557), Poland with 8.3% (42,295), Germany with 4.8% (24,594), and Sweden with 4.2% (21,609).

Additionally, Cypriot residents traveling abroad increased by 11.4% in September 2024. A total of 156,153 residents returned from trips abroad, compared to 140,187 in September 2023. Greece was the top destination for these trips, with 35% (54,624) of the travelers. Other popular destinations included the United Kingdom (7.8%, 12,165), Italy (6.3%, 9,860), and Russia (5.6%, 8,719), according to Cystat.

doValue Cyprus Strengthens Market Leadership With New Astrobank Portfolio

Expanding Market Influence

Loan and real estate management firm doValue Cyprus has significantly reinforced its domestic presence in non-performing loan servicing by acquiring a new portfolio from Astrobank Public Company Limited. This development follows Astrobank’s recent transition, marked by the transfer of key operations to Alpha Bank Cyprus Limited and the subsequent surrender of its banking licence.

Strategic Acquisition And Swift Execution

Finalized on November 3, 2025, the agreement underscores a decisive strategic shift as doValue Cyprus assumes management of Astrobank’s remaining portfolio. The immediate commencement of portfolio management is a testament to the firm’s commitment to delivering specialized, resilient solutions within the non-performing loan market.

Expertise Driving Market Growth

Chief Executive Officer Varnavas Kourounas emphasized that the latest portfolio acquisition not only expands the firm’s operational footprint but also validates its credibility and deep expertise in the competitive Cypriot financial sector. The strategic move is aligned with the broader growth ambitions of the doValue Group.

Broader Market Implications

Operating as part of the international doValue Group—the largest independent loan and real estate management organization in Southern Europe—doValue Cyprus is well-positioned to leverage its newly expanded portfolio. With approximately €136 billion in assets under management, the group maintains a dominant presence across Italy, Greece, Spain, Portugal, and Cyprus. Moreover, its subsidiary, Altamira Real Estate, runs Cyprus’ largest real estate platform, managing extensive property portfolios alongside the island’s most comprehensive sales network.

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