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Cyprus Tourism Feels Impact Of Decline In Israeli Visitors

Declining Arrivals And Revenue Implications

Recent data show that the absence of Israeli tourists over the past two months has affected Cyprus’ tourism sector, particularly given the market’s high daily spending levels. Tourist arrivals reached 455,680 in May 2026, compared with 479,160 in May 2025, representing a decline of 4.9%. During the January-May period, arrivals were down 13.3% compared with the same period a year earlier.

Foreign Market Contributions: United Kingdom And Beyond

The United Kingdom remained Cyprus’ largest source market in May 2026, accounting for 36.3% of total arrivals, or 165,600 visitors. Israel followed with 53,649 arrivals, representing 11.8% of the total. Other key markets included Poland with 37,307 arrivals (8.2%), Germany with 28,546 arrivals (6.3%), and Sweden with 22,111 arrivals (4.9%). Despite a decline in arrivals from some markets, these countries continue to account for a significant share of Cyprus’ tourism traffic.

Rebound In Israeli Tourism

Arrivals from Israel recovered during May 2026 following the sharp decline recorded in March. Visitor numbers rose from 1,537 in March to 15,997 in April before reaching 53,649 in May. Compared with May 2025, arrivals from Israel increased by 18.6%. The recovery follows the near-zero inflow recorded in March after an incident involving a drone near British military bases.

Government Response And Strategic Management

Deputy Minister of Tourism Kostas Koumis said the ministry remains focused on supporting the sector’s recovery following one of the most difficult periods in recent decades outside the pandemic. According to Koumis, efforts to promote Cyprus as a safe destination helped limit the impact of geopolitical tensions and disruptions affecting air connectivity.

Investing In A Resilient Future

Over the past three months, authorities and industry stakeholders have focused on supporting Cyprus’ presence in international tourism markets. Actions have included digital marketing campaigns in 27 countries, visits by foreign journalists and influencers, international meetings and presentations, and cooperation with long-standing tourism partners.

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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