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Cyprus Tourism Regains Its Footing After A Turbulent Spring

Cyprus’ tourism sector is showing signs of renewed stability, even as June arrivals slipped 1.7% year on year, according to Deputy Minister of Tourism Kostas Koumis, who said the latest figures point to a market that has now returned to a steadier path.

The comments followed the release of new data from the Cyprus Statistical Service (Cystat), which showed that 489,965 tourists visited the island in June 2026, down from 498,527 in the same month last year.

A Softer First Half, But Not A Break in Momentum

For the January-to-June period, Cyprus recorded 1,656,015 tourist arrivals, representing a 10.1% decline from 1,843,013 in the first half of 2025. Even so, Koumis argued that the underlying picture was more resilient than the headline decline suggests.

He described June as “satisfactory under the circumstances,” saying it confirmed that the tourism sector had moved back onto a stable trajectory after a difficult spring. In particular, he pointed to the weaker performance in March and April, when the conflict in the Middle East weighed on travel demand and disrupted normal seasonal patterns.

“It also confirms that the actions taken by the deputy ministry, together with the entire tourism industry, to manage the extraordinary situation our country’s tourism sector faced from March 1 onwards have clearly produced improved results,” Koumis said.

Reading Beyond The Headline Numbers

The deputy minister also argued that the first-half performance, while down year on year, should be viewed in context. Arrivals in the first six months of 2026 were still 0.2% higher than during the same period in 2024, suggesting that the market has not lost its broader momentum.

“If we take into account the very significant losses recorded during March and April, which heavily influence any analysis, the first-half performance should also be considered satisfactory,” he said. “At the same time, a window of hope is opening for a further reduction in the overall decline for the current year.”

Targeted Support For Key Markets

Koumis said the government is now focusing on a deeper analysis of market trends rather than relying solely on overall arrival figures. That review, he added, has identified several geographic markets that have been affected and still require support to sustain long-term growth.

“As a government, and as the competent deputy ministry, we are certainly not stopping at simply reading the numbers,” he said. “A thorough analysis shows that several geographical markets have been affected and still require careful support to ensure their successful and uninterrupted development in the coming years.”

According to Cystat, the United Kingdom remained Cyprus’ largest source market in June, accounting for 33.0% of arrivals, or 161,913 visitors.

Looking Ahead To Next Year

Koumis said planning is already underway for the years ahead, with next year at the centre of the government’s coordination efforts with the tourism industry.

“We are continuing to work hard on planning for the coming years, with next year naturally at the centre of our efforts, in cooperation with the country’s tourism industry,” he said. “Our ultimate objective remains the continuation of our collective effort to transform Cyprus into a sustainable, digitally smart and accessible destination for everyone.”

Bitcoin Surges 23% In A Week As Investor Optimism Returns

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.

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