Cyprus Tourism Arrivals Decline Eases, But Full-Year Forecast Still Points To A 5% Drop

by THEFUTURE.TEAM

September 14, 2026

Speaking at a meeting with the deputy ministry, the hoteliers’ association Pasyxe and tourism bodies in Limassol, Tourism Minister Kostas Koumis said the year is now expected to close with a decline of around 5%, despite what he described as a successful response to earlier disruptions.

Summer Losses Narrow As Recovery Takes Shape

The decline eased to around 1% in June and just over 1% in July, while August data have not yet been released. The first seven months recorded an 8% decline, Koumis said.

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“The total percentage for the first seven months of the year has dropped to 8 per cent, and I emphasise the word dropped because it indicates that the decrease is clearly now on a downward path,” Koumis said.

He pointed to the crisis earlier this year, when a drone strike at RAF Akrotiri and the US-Israeli conflict with Iran triggered thousands of cancellations and a freeze in reservations. Authorities responded with a series of measures as the scale of the disruption became clear, he said.

Limassol’s Capacity Challenge Remains

Limassol Tourism Board President Andreas Tsouloftas said the conversion of small hotels into short-term residential units has reduced available bed capacity. He said this limits the city’s ability to expand beyond its current 12% share of national tourism.

“It would be a good thing if there were interest or some incentives to increase these beds, instead of focusing on just attracting higher spending visitors,” he said.

Pollution Concerns Remain With Shipping Authorities

Asked about reported pollution off the Limassol coast, Koumis said the issue falls under the responsibility of the deputy shipping ministry.

“We know that the issue has already been analysed, it will be managed by the competent authorities of the country and from there on we hope that a solution will be found in the long term,” he said.

Tourism Groups Strengthen Promotion

Pasyxe’s Limassol chief Christos Tsanos said the association is strengthening promotional efforts with the Employers and Industrialists Federation (Oev), the Cyprus Chamber of Commerce and Industry (Keve) and the municipality.

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EU Agrees On Major Overhaul Of Financial Market Supervision

by THEFUTURE.TEAM

October 9, 2026

European Union finance ministers have reached agreement on a sweeping package designed to strengthen oversight of the bloc’s financial markets, in a move aimed at reducing fragmentation and improving the flow of capital across borders.

A Push To Deepen Capital Markets

The Market Integration and Supervision Package, or MISP, would grant the European Securities and Markets Authority direct supervision over major market operators that are currently regulated by national authorities. The reforms are intended to make Europe’s capital markets more integrated, more efficient and better able to channel savings into productive investment.

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According to the Irish presidency, the package is meant to help savings and investments move more freely across the European Union, improving access to finance for companies while giving households broader opportunities to earn returns on their savings.

What The Reform Would Change

Under the new framework, ESMA would take direct oversight of key trading venues, clearing houses, securities settlement bodies and crypto-asset service providers. The package would also establish a permanent, independent executive board within the regulator, strengthening its institutional capacity.

Market operators would be able to opt into a new EU-wide operating framework. In parallel, the reforms would seek to make national supervision more consistent and update rules governing trading, transaction completion, investment management and the use of blockchain technology.

Why The Agreement Matters

Supporters of deeper capital markets argue that Europe has long paid a price for regulatory inconsistency. While many rules are harmonised across the bloc, differences in enforcement and supervision have contributed to a patchwork system that can make cross-border investment slower and more costly.

A more integrated framework, proponents say, could lower costs for companies seeking funding and broaden the menu of investment options available to savers and institutional investors alike.

Outstanding Questions Remain

Despite the broad agreement, some important details remain unresolved. Trading venues operated by Deutsche Börse, the company behind the Frankfurt stock exchange, may remain outside ESMA’s direct supervision.

Euronews previously reported that Germany had secured an exemption for Deutsche Börse’s domestically focused trading venues, leaving part of the system under regional supervision. The latest announcement did not clarify whether that arrangement will stand.

A Step Forward For The Savings And Investments Union

Dutch Finance Minister Eelco Heinen welcomed the deal, calling it a major advance for the Capital Markets Union and saying Europe had made more progress in 10 months than in the previous 10 years.

The agreement is an important milestone in the Savings and Investments Union, the EU’s broader effort to channel more of Europeans’ savings into investments that can support growth, innovation and competitiveness across the bloc.

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