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Cyprus Tour Guides Association Mobilizes For Sector Reform

Cyprus Tour Guides Association has announced a protest outside Deputy Ministry of Tourism, scheduled for 11:00 on Friday. Action follows growing concerns in the sector over working conditions and market pressure.

Critical Issues Under Scrutiny

Tour guides highlight several ongoing issues, including illegal tours, limited oversight at archaeological sites and strict controls at crossing points. According to the association, these factors are affecting daily work and contributing to a rise in cancellations.

Economic Implications Amid Regional Instability

Pressure on the sector is increasing as tourism demand shows signs of slowing. Hoteliers report weaker bookings for April and May, linked to ongoing instability in the Middle East. While summer reservations remain relatively stable, new bookings from key markets, including Europe and Israel, have declined.

Calls For Strategic Government Action

At the same time, Akel leader Stefanos Stefanou has called for additional government support for the tourism sector. He proposed measures such as strengthening air connectivity, launching targeted safety campaigns and introducing support for domestic demand. He also highlighted the need to support seasonal workers affected by delays at the start of the season.

Developments reflect broader pressure across tourism, as businesses and workers adjust to weaker demand and ongoing regional uncertainty.

Eurobank Wins Two Euromoney Awards Following Cyprus Merger

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.

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