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Cyprus Sees Surge In Short-Term Rentals, Tourism Minister Says

The number of registered short-term rental properties in Cyprus has nearly doubled in under a year, rising from 4,765 in April 2023 to 8,248, Deputy Minister of Tourism Kostas Koumis announced.

Registration Boom And Regulatory Challenges

Speaking after a parliamentary committee meeting on 18 February, Koumis credited the surge to targeted awareness campaigns. With 1,275 applications pending approval and another 1,170 still incomplete, the number is expected to grow further.

However, the rapid expansion of short-term rentals is raising regulatory concerns. While the sector boosts the economy, it also competes with traditional hotels. The government is reviewing amendments to ensure balanced policies across different regions, from urban hubs like Nicosia to coastal tourist hotspots.

Record-Setting Tourism And Future Goals

Looking ahead, Koumis is optimistic about 2025, following a record-breaking 2024 in both arrivals and revenue. Cyprus has successfully rebounded from the loss of the Russian market, posting a 25% growth in tourism figures over two years.

The next challenge? Extending the tourism season beyond peak months to sustain momentum year-round.

FinTech’s Dominance In MENA: Three Strategic Drivers Behind Unyielding VC Success

Despite facing tightening global liquidity and macroeconomic headwinds, the FinTech sector continues to assert its leadership in the MENA region. In the first half of 2025, FinTech emerged as the most resilient and appealing arena for venture capital investments, proving its worth as a catalyst for financial innovation and inclusion.

Addressing Structural Financial Gaps

In many parts of MENA, a significant proportion of the population remains underbanked and underserved by traditional financial institutions. FinTech companies are uniquely positioned to address these persistent challenges by bridging critical access gaps and driving financial inclusion. With the proliferation of payment apps, digital wallets, and micro-lending platforms, investors have witnessed firsthand how these solutions pave the way for scalable growth and eventual exits. Early-stage momentum in the region is underscored by a doubling of pre-seed deals year-over-year, reinforcing the sector’s capacity for rapid innovation and sustainable expansion.

Highly Scalable and Replicable Business Models

One of the key factors behind FinTech’s dominance is the inherent scalability of its business models. Once the necessary infrastructure and regulatory approvals are in place, these models have demonstrated robust performance across borders. The first half of 2025 saw a marked acceleration in deal activity, with payment solutions leading the charge with 28 deals in MENA—a significant increase over the previous year. Lending platforms, in particular, experienced a meteoric 500% year-over-year increase in funding, emerging as the fastest-growing subindustry. Such replicability makes FinTech an attractive proposition for investors seeking high-growth opportunities in diverse markets.

Supportive Regulatory And Government Backing

The strategic support offered by key government initiatives in the UAE and Saudi Arabia has been instrumental in propelling the FinTech sector forward. Progressive frameworks, such as the UAE’s open finance and digital asset directives, coupled with Saudi Arabia’s live-testing sandboxes, have materially lowered entry barriers for startups. These measures not only foster innovation but also streamline the path to commercialization. Consequently, the combined efforts of these regulatory bodies have enabled the UAE and Saudi Arabia to account for 86% of MENA’s total FinTech funding in H1 2025.

The resilience of FinTech in MENA is not merely a reflection of contemporary market trends—it signals a fundamental shift in the region’s economic fabric. With an unwavering commitment to addressing real financial challenges, scalable and replicable business practices, and robust regulatory support, FinTech is setting the benchmark for sustainable innovation. As capital markets become increasingly discerning, this sector stands out as a beacon of long-term growth and transformative impact.

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