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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.”

Cyprus Crypto Users Face New Risks As MiCA Rules Take Effect

Why Investors Need To Check The Company Behind Their Crypto Platform

Crypto users in Cyprus are being urged to verify exactly which company holds their assets after the EU’s Markets in Crypto-Assets Regulation (MiCA) transition period ended on July 1, 2026.

MiCA rules for crypto-asset service providers have applied since December 2024, but Cyprus allowed companies operating under its previous national framework to continue temporarily. CySEC required providers wishing to remain in the market to apply by February 27, 2026.

The end of the transition means that appearing on an old national register is no longer enough. Investors must check the specific legal entity providing the service and the activities it is authorised to perform.

Two Regulatory Routes

CySEC maintains separate registers for providers authorised under Article 63 and companies using the Article 60 notification route.

The lists should not simply be treated as a count of licensed crypto exchanges. Providers have different regulatory statuses and may be authorised for different services, including custody, transfers, exchanges or operating trading platforms.

Companies authorised elsewhere in the EU can also serve Cypriot customers through MiCA passporting. Investors should therefore check the wider ESMA register.

Familiar Brands Can Still Be Used In Scams

MiCA authorisation applies to a specific legal entity, not automatically to every website, subsidiary or service using the same brand. Fraudsters can copy a legitimate company’s name, logo and licence number while changing its website or payment details.

The regulatory transition creates another opportunity for scammers. They can imitate legitimate notices about account closures or transfers and claim that customers must urgently move their assets to a new “regulated” platform.

In its July announcement, CySEC warned that customers using unauthorised providers do not receive MiCA protections and advised investors to verify providers through ESMA.

A Wider European Shake-Up

The changes affect the broader European crypto market. VASPnet estimated that more than 1,700 unlicensed crypto companies could face closure, relocation or restructuring after the transition period.

ESMA’s register contained 323 authorised providers at the end of July, while TRM Labs identified 1,343 operating providers in the European Economic Area on July 1, including 281 with MiCA authorisation. The different figures reflect different methodologies, but point to a substantial number of providers operating without the new authorisation.

ESMA instructed unauthorised companies to stop accepting new EU customers, opening accounts and marketing their services, while allowing limited activity needed for an orderly withdrawal.

What Investors Should Check

MiCA introduces common requirements for areas such as governance, disclosures and safeguarding client assets, but it does not make crypto investments risk-free.

For Cyprus users, the key questions are which legal entity provides the service, what it is authorised to do and whether the website or contact details are genuine.

Requests to transfer assets urgently, pay recovery fees, reveal private keys or install remote-access software should be treated as red flags. MiCA may bring greater clarity to the market, but the transition has also created a new opportunity for criminals to exploit a very real regulatory change.

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