Cyprus Sees a Surge In Tourism Revenue: February’s Significant Gains And What It Means

by News Editor

April 29, 2025

In February 2025, Cyprus reported a notable €79.7 million in tourism revenue, reflecting a remarkable 22.4% increase from the same period last year when earnings stood at €65.1 million, according to the latest release by the statistical service.

Year-to-Date Performance

Taking a broader view, the combined revenue for the first two months of 2025 reached €148.9 million, soaring by 35% compared to €110.3 million during the same months in 2024.

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Spending Patterns of Tourists

The per capita expenditure for February rose by 14.3%, amounting to €595.71 compared to €521.01 in February 2024. Among the tourists, British visitors, accounting for 24.8% of the arrivals, spent an average of €73.42 per day. Polish tourists made up 15.1% of the total arrivals and spent €71.07 daily. Intriguingly, visitors from Israel had the highest daily spending at €203.06.

Future Prospects

Looking ahead, Harris Papacharalambous, President of Cyprus Travel and Tourism Agents Association, anticipates that a total of 4.25 million tourists will visit Cyprus by the end of the year. The vision for 2026 is to enhance the island’s tourism offerings with innovative changes, turning it into a regional hub for tourism activities, thanks to Cyprus’ strategic geographical position.

For further exploration of Cyprus’s rapid growth and economic potential, read about Cyprus’s fastest-growing tech companies and their global impact.

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Robust Cyprus Construction Activity Bolsters Vassilico Cement’s 2025 Performance

by THEFUTURE.TEAM

April 24, 2026

Vassilico Cement Works Public Company Ltd reported a net profit of €35.52 million for 2025, supported by strong construction activity in Cyprus. Company profit reached €34.99 million, reflecting higher revenues and improved operating performance.

Domestic Market Growth Driven By Cyprus Construction

Group revenue rose to €152.75 million, while company revenue reached €152.66 million, up 11% year on year. Growth was driven by increased sales volumes in the domestic market, where construction activity remained strong throughout the year.

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Enhanced Production Efficiency And Cost Management

Gross profit increased to €50.30 million at group level and €50.21 million at company level, compared with €42.49 million in 2024. The improvement reflects gains in production efficiency and cost control, supported by higher use of alternative fuels and improved electricity efficiency. These measures reduced unit costs while supporting environmental targets.

Executive Insights And Macroeconomic Outlook

Executive Chairman Antonis Antoniou said strong domestic demand supported production volumes, with the company maintaining focus on the local market and managing exports selectively. He added that favorable economic conditions in Cyprus contributed to performance, despite regulatory pressures in Europe and broader geopolitical uncertainty.

Navigating Energy And Regulatory Challenges

Future performance will be influenced by energy market volatility and European climate policy, including carbon pricing and the Carbon Border Adjustment Mechanism. Rising fuel and electricity costs continue to affect energy-intensive industries.

The company is expanding its renewable energy capacity, with a photovoltaic park reaching 16MW and plans for an additional 8MW, subject to grid connection. The investments aim to improve cost stability and energy efficiency.

Shareholder Returns And Strategic Investments

The board approved an interim dividend of €0.15 per share, totaling €10.79 million, on September 25, 2025. A final dividend of €16.55 million, or €0.23 per share, will be proposed. Combined, total dividends amount to €27.34 million, or €0.38 per share.

Management said the company will continue focusing on efficiency, cost control and sustainability as it navigates energy market pressures and regulatory requirements.

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